Sector: Utilities|Industry: Utilities - Regulated Gas|Market Cap: $16.99B|Employees: 7.4K
NiSource Inc. is an energy holding company with regulated natural gas and electric utility subsidiaries, serving approximately 3.8 million customers across six states. The company focuses on providing safe and reliable service with a focus on infrastructure investment, safety programs, and environmental sustainability. NiSource operates primarily in the Midwest and Mid-Atlantic regions.
Operating revenues decreased from $1,966.0 million in Q1 2023 to $1,706.3 million in Q1 2024, primarily due to lower customer revenues. This indicates a potential slowdown in core business activities.
Net income attributable to NiSource increased from $333.0 million in Q1 2023 to $365.0 million in Q1 2024. This was primarily due to higher revenues, net of cost of energy, driven by rate increases from regulatory outcomes.
Cost of energy decreased from $765.1 million in Q1 2023 to $425.0 million in Q1 2024. This decrease significantly contributed to the increase in operating income.