Filing Flows › NiSource (NI) › Q1 2026
NiSource (NI) Q1 2026 earnings results (first quarter 2026)
10-Q filed May 6, 2026
NiSource (NI) reported revenue of $2.3B for the first quarter 2026 (Q1 2026), +8% from a year earlier and +23% from the quarter before. Operating margin was 35.3%, net earnings $507M (21.8% of revenue).
NiSource, Q1 2026: revenue $2.3B (+8% year over year), operating margin 35.3%, net earnings $507M, operating cash flow $442M. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $2.3B | +23% | +8% |
| Operating profit | $819M | +59% | +8% |
| Net earnings | $507M | +97% | +7% |
| Operating cash flow | $442M | -38% | -36% |
What changed
Revenue was $2.3B in Q1 2026, up 8% year over year and up 23% from the previous quarter. Columbia Operations was the largest line at 57% of revenue. Columbia Operations added $0.09B year over year (up 7%), 51% of the total change.
Operating profit was $0.82B, a 35.3% margin (down 0.1 points year over year). Of the extra revenue versus Q1 2025, 35% reached operating profit, below the 35% margin then. Total costs grew 8% against revenue growth of 8%. The fastest-growing cost line was Other operating costs (+12%). Net earnings were $0.51B, up 7% year over year. The effective tax rate was 13.4%.
Operating cash flow was $0.44B (down 36% year over year), 80% of net income including minority interests. Non-cash charges added back $0.29B of depreciation and amortization. Working capital and other items used $0.40B. Capital expenditures of $0.81B exceeded it, leaving free cash flow of −$0.36B.
Questions
What was NiSource's revenue in the first quarter 2026?
NiSource (NI) reported revenue of $2.3B for the first quarter 2026 (Q1 2026), +8% from a year earlier and +23% from the quarter before.
Was NiSource profitable in the first quarter 2026?
Operating profit was $819M (35.3% of revenue) and net earnings $507M.
Source: NiSource 10-Q on SEC EDGAR.