NiSource Inc. (NYSE: NI) today announced, on a GAAP basis, net income available to common shareholders for the three months ended June 30, 2024, of $85.8 million, or $0.19 of earnings per diluted share, compared to net income available to common shareholders of $39.9 million, or $0.09 of earnings per diluted share, for the same period of 2023.
NiSource also reported second quarter 2024 non-GAAP adjusted net income available to common shareholders of $94.7 million, or $0.21 of adjusted earnings per share ("EPS") compared to non-GAAP adjusted net income available to common shareholders of $50.3 million, or $0.11 of adjusted EPS, for the same period of 2023. Schedule 1 of this press release contains a complete reconciliation of GAAP measures to non-GAAP measures. **
NiSource is reaffirming 2024 adjusted EPS guidance of $1.70-1.74 as well as annual 6-8% adjusted EPS growth and annual 8-10% rate base growth* for the 2023-2028 period. The 2024-2028 base capital expenditure plan is $16.4 billion.
"During the second quarter NiSource placed the Cavalry Solar & Storage project into service and reported strong earnings results, executing our investment plan and delivering consistent shareholder returns,” said NiSource President and CEO, Lloyd Yates. “Implementation of capital trackers as well as progress on renewable project approvals and our integrated resource planning process are continuing evidence of the superior regulatory and stakeholder foundation that make this possible. In July, our team was put to the test in responding to a major windstorm in our Indiana service area. I want to thank our employees and contractors for their preparation and around-the-clock response in restoring service to our communities.”
