The following is a summary of the NiSource Inc. (NI) Q3 2024 Earnings Call Transcript:

Financial Performance:

• NiSource Inc. reported a trailing twelve-month earned ROE of 9.9%, reflecting strong shareholder returns despite increasing capital deployment and declining financial leverage.

• Provided 2024 adjusted EPS guidance of $1.70 to $1.74, with expectations to achieve the upper half of this range, and introduced 2025 adjusted EPS guidance of $1.84 to $1.88.

• Detailed a comprehensive five-year capital plan amounting to $19.3 billion, accounting for 89% of their current rate base, aimed at achieving an 8% to 10% rate base growth from 2025 to 2029.

Business Progress:

• Achieved regulatory approvals in Indiana for solar and gas peaking facility projects and advancements in technology using AI for work and asset management to enhance operational efficiency and risk management.

• Filed electric rate case in Indiana reflecting $2.5 billion of investments, and secured approval for $285 million investment in Ohio for the capital expenditure program.

• Engaging in strategic planning for serving data center customers in Indiana, utilizing the robust infrastructure and favorable regional attributes.

Opportunities:

• Exploring substantial growth in data center operations in Northwest Indiana, capitalizing on regional infrastructure, favorable business climate, and strategic utility planning.

• Forecasting an increase in demand and investment through the integration of renewable energy projects and support of data center growth, enhancing shareholder value and community benefits.

Risks:

• Facing potential challenges such as regulatory changes, interest rate environment, inflationary pressures, and natural disaster risks which are being proactively managed to safeguard operations and financial commitments.

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