NiSource (NI) 10-K Summary — Year Ended Dec 31, 2023
NiSource Inc. is a natural gas distribution company that focuses on replacing aging infrastructure to reduce emissions and improve safety. The company's financial performance for the most recent annual period showed a decline in revenue compared to the prior year, while operating income and net income remained positive.
Key takeaway
Year ended Dec 31, 2023 · FY2025 10-K
NiSource Inc. is a natural gas distribution company that focuses on replacing aging infrastructure to reduce emissions and improve safety. The company's financial performance for the most recent annual period showed a decline in revenue compared to the prior year, while operating income and net income remained positive.
Financial snapshot
Selected annual figures reported with the filing, shown separately from the narrative summary.
Annual revenue
$5.3B
Revenue reported for the fiscal year.
Operating income
$1.3B
Income from operations reported for the year.
Net income
$714.3M
Net income reported for the year.
Operating cash flow
$1.9B
Cash generated by operating activities.
Annual revenue trend
Reported annual revenue and its change from the preceding fiscal year.
| Period ended | Revenue | Year-over-year change |
|---|---|---|
| Dec 31, 2021 | $4.7B | n/a |
| Dec 31, 2022 | $5.7B | +21.3% |
| Dec 31, 2023 | $5.3B | -6.8% |
Business overview
NiSource Inc. operates as a natural gas distribution company. The company's regulatory capital programs focus on replacing aging infrastructure to lower methane emissions and enhance safety and reliability for customers and communities.
Financial performance
The company reported a decrease in revenue relative to the previous year. Operating income and net income were positive. Cash flow from operations was also reported.
Material risks
The filing context did not provide specific risk factor descriptions. Therefore, no material risks can be identified from the supplied information.
Liquidity and capital
The company allocates capital to regulatory capital programs aimed at replacing aging natural gas infrastructure. This investment is intended to reduce methane emissions and improve system safety and reliability.
What to watch
Readers should monitor the company's progress on its infrastructure replacement programs and any related regulatory developments.