NiSource (NI) 10-K Summary — Year Ended Dec 31, 2024
NiSource Inc filed its annual report for the period ended December 31, 2024. The filing describes the company's regulated utility operations, financial results, and risk factors.
Key takeaway
Year ended Dec 31, 2024 · FY2025 10-K
NiSource Inc filed its annual report for the period ended December 31, 2024. The filing describes the company's regulated utility operations, financial results, and risk factors.
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
$1.5B
Income from operations reported for the year.
Net income
$760.4M
Net income reported for the year.
Operating cash flow
$1.8B
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% |
| Dec 31, 2024 | $5.3B | -1.2% |
Business overview
NiSource is a holding company whose primary business is regulated natural gas and electric utility operations. The company serves customers through its natural gas distribution and electric generation, transmission, and distribution subsidiaries. The filing references regulatory capital programs aimed at reducing methane emissions by replacing aging infrastructure to improve safety and reliability.
Financial performance
Revenue for the reported period was lower compared to the prior year. Operating income and net income were reported, and operating cash flow was positive. The trend data shows revenue declined from a higher level two years ago and remained relatively stable in the most recent period.
Material risks
The filing includes a dedicated risk factors section, though specific risk details are not provided in the supplied context. The business is subject to regulatory, operational, and financial risks common to utility companies. The filing also addresses cybersecurity as a separate item.
Liquidity and capital
The filing discusses liquidity and capital resources in the context of regulatory capital programs. These programs focus on replacing aging infrastructure to lower methane emissions, which also supports safety and reliability for customers.
What to watch
Investors should monitor the company's progress on regulatory capital programs and any changes in revenue trends in the next filing.