Mission Statement, Vision, & Core Values of NiSource Inc. (NI)

You're looking at NiSource Inc. (NI) because a utility with a clear strategic roadmap is a utility you can model, especially one reaffirming its 2025 adjusted earnings per share (EPS) guidance to the upper half of $1.85 to $1.89. What matters most is how a company's foundational Mission and Vision-like being a premier, innovative, and trusted energy partner-translates into the $19.4 billion capital expenditure plan they've laid out for 2025 through 2029. Do their core values-Be Safe, Look for a Better Way, Act with Care, and Take Accountability-defintely support the targeted 8%-10% annual rate base growth, or are they just corporate wallpaper?

As an investor or strategist, you need to know if the company's stated purpose can withstand the pressure of a massive infrastructure build-out and the transition to cleaner energy. For instance, with GAAP net income hitting $671.7 million through the first nine months of 2025, how is that success tied back to the mission to deliver safe, reliable energy that drives value to customers? Let's dig into the principles that are supposed to guide every dollar of that multi-billion-dollar investment and see what it means for your analysis.

NiSource Inc. (NI) Overview

You need a clear picture of NiSource Inc.'s foundation and current financial standing, and the takeaway is simple: this is a major, regulated utility company that is aggressively funding its future through a massive capital plan, positioning for long-term, predictable growth.

NiSource Inc. has a deep history, tracing its roots back to the early 20th century, with its official establishment as the Northern Indiana Public Service Company (NIPSCO) in 1912. Today, it operates as one of the largest fully regulated utility companies in the United States, providing essential services across six states: Indiana, Kentucky, Maryland, Ohio, Pennsylvania, and Virginia. The company's core business is delivering natural gas and electricity through its two main operating segments: Columbia Gas and NIPSCO. They serve a massive combined customer base of approximately 3.3 million natural gas customers and 500,000 electric customers. For the twelve months ending September 30, 2025 (TTM), the company's total revenue, or current sales, stood at approximately $6.33 billion.

Latest Financial Performance: Q3 2025 Highlights

Looking at the latest financial reports, NiSource Inc. is showing strong execution, which is exactly what you want to see from a regulated utility. The company reported its third-quarter 2025 earnings on October 29, 2025, and the revenue figures were a clear beat. Quarterly revenue for Q3 2025 came in at $1.27 billion, significantly surpassing the consensus estimate of $983.25 million. That's a solid revenue beat that reflects steady demand for their core natural gas and electric services.

Here's the quick math on the nine-month performance: for the period ending September 30, 2025, the company's GAAP net income available to common shareholders reached $671.7 million, or $1.42 per diluted share. To be fair, this is a substantial increase from the $515.8 million, or $1.14 per diluted share, reported in the same nine-month period in 2024. This growth is driven by their ongoing infrastructure modernization and regulatory approvals for rate increases in key service areas, like the $257 million revenue uplift from the NIPSCO electric rate case approved in Indiana.

• Q3 2025 Revenue: $1.27 billion (beat consensus).
• Nine-Month Net Income: $671.7 million (up from $515.8 million in 2024).
• Adjusted EPS Guidance: Reaffirmed at the upper half of $1.85 to $1.89 for the full fiscal year 2025.

A Utility Leader Driving Transformative Growth

NiSource Inc. isn't just a stable utility; it's a leader actively transforming its business for the next decade. The company is committed to the energy transition (the move from traditional to renewable energy sources), planning to retire its remaining coal-fired electric generation by 2028. Their strategic capital plan is the clearest sign of their leadership and commitment to growth.

They recently announced an enormous consolidated capital expenditure plan of $28.0 billion through 2033. This plan is approximately 45% larger than the prior five-year plan, and it's fueled by nearly $7.0 billion in strategic data center investments, which is a massive new growth vector. This proactive investment supports an expected non-GAAP adjusted Earnings Per Share (EPS) compound annual growth rate (CAGR) of 8% to 9% from 2026 through 2033. They're also using advanced technologies, like AI capabilities, which are already delivering up to 24% improvements in field productivity across their operating companies. That's smart business. Want to dig deeper into the institutional confidence behind these numbers? You can find more details here: Exploring NiSource Inc. (NI) Investor Profile: Who's Buying and Why?

Finance: You should defintely model the impact of the $7.0 billion data center investment on the 2026-2033 EPS CAGR, specifically looking at the regulatory asset treatment.

NiSource Inc. (NI) Mission Statement

The mission statement for NiSource Inc. is direct and serves as the core compass for its massive infrastructure strategy: NiSource Inc. (NI): History, Ownership, Mission, How It Works & Makes Money. It's a clear directive for the approximately 7,700 employees who serve nearly 3.8 million customers across six states. The statement is: To deliver safe, reliable energy that drives value to our customers. This isn't just a feel-good phrase; it's the mandate that justifies the company's significant capital allocation and guides every regulatory filing.

For us as analysts and investors, this mission is the lens through which we evaluate the company's performance and its long-term growth potential. When a utility commits to 'safe, reliable, and value,' it's defintely signaling a focus on regulated returns and infrastructure modernization, which is a key driver for rate base growth. The focus on 'driving value' is the critical component that ties operational execution to shareholder returns.

Core Component 1: Delivering Safe, Reliable Energy

The first core component-delivering safe, reliable energy-is the non-negotiable foundation of any utility. For NiSource Inc., this commitment is most clearly demonstrated in its massive infrastructure investment plan. Honestly, in this business, safety and reliability are bought with capital expenditure (CapEx).

The company is projecting a CapEx of between $4.0 billion and $4.3 billion just for the 2025 period, aimed at upgrading and modernizing both gas and electric systems. This is part of a larger 2025-2029 base capital plan totaling approximately $19.4 billion. Here's the quick math: that kind of sustained investment, especially with 48% of the 2025-2029 plan allocated to gas system hardening, directly translates into a more resilient grid and safer pipeline operations. A more reliable system means fewer outages, fewer safety risks, and a stronger platform for future growth.

• Invest in safety: Replace aging gas infrastructure like cast iron and bare steel.
• Modernize the grid: Upgrade substations and replace transformers for electric reliability.
• Reduce emissions: Infrastructure upgrades also cut methane leaks, a dual-benefit action.

Core Component 2: Driving Value to Our Customers

The second component, 'driving value to our customers,' moves beyond simple service delivery to address the core issue of affordability and customer experience. For a regulated utility, value is a balance of service quality and cost management, which is constantly under regulatory scrutiny. NiSource Inc. serves approximately 3.3 million natural gas customers and 500,000 electric customers, so managing costs is paramount.

The company is actively using technology to manage costs, which is a smart move to keep rates manageable while still investing heavily. For instance, they've implemented AI work management intelligence that is delivering sustained fuel productivity uplifts of over 20%. This operational efficiency is what allows them to reaffirm the upper half of their 2025 adjusted EPS guidance of $1.85 to $1.89 while still maintaining a focus on customer affordability. It's a classic utility trade-off: invest capital to improve service, but use efficiency gains to mitigate rate shock for the customer.

Core Component 3: Operational Excellence and Accountability

While not a separate phrase in the mission, the commitment to operational excellence is what makes the 'safe, reliable, value' proposition achievable. This is where the company's core values-specifically 'LOOK FOR A BETTER WAY' and 'TAKE ACCOUNTABILITY'-become strategic imperatives. You can't deliver on a multi-billion-dollar CapEx plan without a culture of continuous improvement.

The company's focus on technological advancement, such as the implementation of Artificial Intelligence (AI) across operations, has already resulted in over 60,000 hours of productivity gains since 2023. This isn't just a nice internal metric; it's a tangible reduction in operational friction that supports the $21 billion base CapEx plan through 2030. Plus, the recent consolidated CapEx plan of $28.0 billion, which includes nearly $7.0 billion in strategic data center investments, shows a clear, accountable strategy to capitalize on emerging load growth opportunities. This is how a utility executes its mission: by translating core values into measurable, high-impact financial actions.

NiSource Inc. (NI) Vision Statement

You're looking at NiSource Inc. (NI) and trying to figure out if their long-term story matches their near-term financials. Honestly, the vision is the roadmap for how a utility like this justifies its massive capital spend and delivers predictable returns. Their vision, To be an innovative and trusted energy partner, is a clear statement that goes beyond just keeping the lights on and the gas flowing.

It's a simple promise, but it's backed by serious money. For the 2025-2029 period, the base capital expenditure plan is a staggering $19.4 billion, which is designed to drive an expected annual rate base growth of 8% to 10%. That's how a utility translates a high-level vision into concrete financial action. It's all about regulated, predictable growth.

Innovative Energy Partner: Capitalizing on the Future

Innovation for a utility isn't about a flashy app; it's about massive infrastructure shifts and smart technology deployment. NiSource is defintely leaning into this part of its vision by accelerating its shift to cleaner energy and embracing new power demands, like those from data centers.

The company is making huge, strategic bets. For instance, the newly consolidated capital expenditure plan is now $28.0 billion through 2033, which includes approximately $7.0 billion for strategic data center investments. This is a clear move to capture growth from the onshoring of manufacturing and the surging power needs of new technology across their service region. Here's the quick math: that $7.0 billion is a massive tailwind for their long-term growth, pushing their consolidated adjusted earnings per share (EPS) compound annual growth rate (CAGR) to 8% to 9% through 2033.

• Retire all coal assets by 2028.
• Achieve net-zero greenhouse gas emissions from operations by 2040.
• Use AI-driven data to boost productivity and efficiency.

Trusted Energy Partner: Safety and Predictable Returns

The trusted part of the vision is the bedrock of any utility: safety and reliability. For NiSource, this means a relentless focus on operational excellence and maintaining a constructive regulatory environment across its six-state footprint. The company's commitment to safety is a core value, and they track metrics like Days Away, Restricted or Transferred (DART) and Preventable Vehicle Collisions (PVCs) to ensure top-decile performance.

From a financial perspective, trust equals predictability. The company is guiding for 2025 non-GAAP adjusted EPS in the upper half of the $1.85 to $1.89 range. This stability, driven by regulated revenues and recovering capital investments, is what makes them a trusted investment. They've already achieved $0.98 adjusted EPS in the first quarter of 2025, which was a 15% year-over-year increase, showing they are on track to meet their full-year commitment.

What this estimate hides is the regulatory work needed to keep that trust. All planned regulated revenue increases necessary to achieve their 2025 guidance have either been put into rates or are pending approval, reinforcing the strength of their regulatory foundation. You can learn more about how this all works at NiSource Inc. (NI): History, Ownership, Mission, How It Works & Makes Money.

Mission: Delivering Value to Our Customers

The mission statement-To deliver safe, reliable energy that drives value to our customers-is the daily operational filter for the Vision. Every dollar of that multi-billion dollar capital plan must tie back to this. Value for a customer means a few things: safe systems, reliable service, and affordable rates.

The investment in infrastructure modernization, which is a significant portion of the $19.4 billion capital plan, directly supports this mission by improving reliability and safety. For example, the focus on Advanced Metering Infrastructure (AMI) is a commitment to leveraging advanced technology to enhance services and provide greater efficiency to their nearly 4 million customers.

Core Values: The Operational Guardrails

The four Core Values are the non-negotiable behaviors that underpin the Vision and Mission.

• Be Safe: Put safety above all else, which is critical in a utility setting.
• Look for a Better Way: Drive the innovation part of the vision, like their use of AI.
• Act with Care: Focus on the customer and community, which is tied to the 'trusted partner' goal.
• Take Accountability: Deliver on financial and operational commitments, like hitting that 2025 EPS guidance.

These values aren't just posters on a wall; they are the cultural engine for the annual 6% to 8% non-GAAP adjusted EPS growth they are targeting through 2030.

NiSource Inc. (NI) Core Values

If you're looking at a utility company like NiSource Inc., its core values aren't just feel-good corporate slogans; they are the financial and operational blueprint. As a seasoned analyst, I can tell you that these values-Be Safe, Look for a Better Way, Act with Care, and Take Accountability-directly translate into capital expenditure plans, risk mitigation, and ultimately, shareholder value. They are the bedrock of their strategy to deliver safe, reliable energy and be an innovative, trusted energy partner. You can dive deeper into the company's investor profile to see how these values drive market perception: Exploring NiSource Inc. (NI) Investor Profile: Who's Buying and Why?

Be Safe

Safety is the number one priority for any utility, and for NiSource, this value is a non-negotiable operational standard. It's about protecting the public, employees, and the vast network of infrastructure, which in turn protects the company's financial stability from catastrophic risk. For 2025, this commitment is backed by a substantial capital plan. The company is estimating capital investments between $4.0 billion and $4.3 billion this year, a significant portion of which is dedicated to system modernization and safety enhancements.

This isn't just pipe replacement; it's a data-driven approach to risk reduction. NiSource is on track to meet its goal of a 50% reduction in methane emissions from main and service lines by the end of 2025, a crucial safety and environmental metric. This focus on operational excellence is why their gas operations have achieved the rigorous ISO 55001 and API RP 1173 certifications. That level of certification is a clear signal of industry-leading safety performance.

• Invest in system modernization.
• Reduce methane emissions by 50% by year-end.
• Maintain top-tier safety certifications.

Look for a Better Way

This value is NiSource's commitment to innovation and environmental stewardship, which is essential for a utility navigating the energy transition. The 'better way' is cleaner, more resilient, and ultimately, more cost-effective for customers long-term. The most visible example is the aggressive clean energy transition plan, which commits approximately $4 billion of cumulative generation transition investments.

NiSource is moving fast to retire all coal-fired electric generation by 2028. Specifically, the R.M. Schahfer Generating Station is scheduled to retire by the end of 2025. As of the third quarter of 2025, the company has successfully placed in service 1,950 MW of renewable projects and 101 MW of battery storage, fundamentally changing their energy mix. This strategy has already paid off, with a reduction in greenhouse gas (GHG) emissions of approximately 72% from 2005 levels as of late 2024. That's a huge step toward their net-zero goal by 2040.

Act with Care

Acting with care means prioritizing the customer experience and investing in the communities they serve. In a regulated business, customer satisfaction directly impacts regulatory outcomes and rate case support. The company's focus on this value is evident in the 2025 Escalent study, which named four NiSource operating companies among the most trusted utility brands and 'easiest to do business with.' For example, NIPSCO scored a strong 770 on the Customer Effort Score in the Midwest Region.

Beyond service, this value extends to economic inclusion. NiSource has a goal of 25% diverse supplier spend by 2025, having reached 23.6% in 2024. This is defintely a measurable commitment to economic equity. Additionally, the NiSource Charitable Foundation gave over $7 million to non-profit organizations in 2024, demonstrating a deep investment in local community vitality.

Take Accountability

Taking accountability is the financial and ethical backbone of the company, ensuring transparency and delivering on commitments to all stakeholders. This is where the rubber meets the road for investors. For the 2025 fiscal year, NiSource is reaffirming the upper half of its non-GAAP adjusted Earnings Per Share (EPS) guidance, targeting a range of $1.85 to $1.89.

Here's the quick math: The GAAP net income available to common shareholders for the nine months ended September 30, 2025, was $671.7 million. This steady performance underpins a massive, newly announced consolidated capital expenditure plan of $28.0 billion, which includes approximately $7.0 billion in strategic data center investments. What this estimate hides is the long-term growth potential tied to these new, high-demand customers, which is a direct outcome of accountable, forward-looking business strategy.