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How NiSource (NI) makes money
NiSource (NI) made $1.3B of revenue in the third quarter 2026 (Q3 2026), +5% from a year earlier. NIPSCO Operations brought in $796M (61%); Columbia Operations brought in $493M (38%); Corporate Segment brought in $10.5M (1%). Of every dollar of revenue, 26¢ was left as operating profit, 10¢ was left as net earnings.
Drawing the Sankey…
Revenue by segment, Q3 2026
| Segment | Revenue | Share | Q/Q | Y/Y |
|---|---|---|---|---|
| NIPSCO Operations | $796M | 61.2% | — | +5% |
| Columbia Operations | $493M | 37.9% | — | +3% |
| Corporate Segment | $10.5M | 0.8% | — | — |
| NIPSCO | $1.6M | 0.1% | — | — |
Where each dollar of revenue goes
| Line | Q3 2026 | % of revenue |
|---|---|---|
| Revenue | $1.3B | 100.0% |
| Operating profit | $340M | 26.2% |
| Income tax | $13.1M | 1.0% |
| Net earnings | $130M | 10.0% |
| Operating cash flow | $547M | 42.0% |
Revenue, quarter by quarter
| Quarter | Revenue | Y/Y |
|---|---|---|
| Q3 2026 | $1.3B | +5% |
| Q2 2026 | $1.3B | +3% |
| Q1 2026 | $2.3B | +8% |
| Q4 2025 | $1.9B | +22% |
| Q3 2025 | $1.2B | +15% |
| Q2 2025 | $1.2B | +15% |
| Q1 2025 | $2.1B | +26% |
From NiSource's 10-Q filed Oct 28, 2026 (on EDGAR).
Questions
How does NiSource make money?
NiSource (NI) made $1.3B of revenue in the third quarter 2026 (Q3 2026), +5% from a year earlier. NIPSCO Operations brought in $796M (61%); Columbia Operations brought in $493M (38%); Corporate Segment brought in $10.5M (1%). Of every dollar of revenue, 26¢ was left as operating profit, 10¢ was left as net earnings.
What is NiSource's biggest business?
NIPSCO Operations: $796M in the third quarter 2026, 61% of revenue, +5% from a year earlier.
What is NiSource's profit margin?
Net earnings were $130M, 10.0% of revenue, in the third quarter 2026; the operating margin was 26.2%.
Updated Nov 8, 2026. Read automatically from SEC filings and public data; errors are possible. Not investment advice.