NiSource raises annual growth forecast on AI-driven power demand

NiSource

06/05/2026 12:36

Utility NiSource NI.N on Wednesday raised its adjusted profit compound annual growth rate, after narrowly beating first-quarter profit, driven by higher power demand due to artificial intelligence-focused data centers.

Rising demand from data centers is expected to push power consumption to record highs in 2026, according to the U.S. Energy Information Administration.

The Merrillville, Indiana-based company reported quarterly profit of $1.06 per share, beating analysts' average estimate of $1.05, according to data compiled by LSEG.

The company raised its adjusted profit compound annual growth rate (CAGR) to a range of 9% to 10% from a prior forecast of 8% to 9%.

NiSource had in April signed a long-term energy supply agreement with a unit of Alphabet GOOGL.O to support a large data center in northern Indiana.

The company's quarterly net income rose 10.2% to $509.6 million.

"We are seeing the impact of our GenCo model through new and expanded collaboration with Alphabet and Amazon, which together are expected to deliver approximately $1.4 billion in customer value," CEO Lloyd Yates said.

The utility reaffirmed its forecast for full-year adjusted earnings in the range of $2.02 to $2.07 per share.

The company serves 3.3 million natural gas customers across six states through its Columbia Gas division and 500,000 electricity customers in Indiana through its NIPSCO unit.

 (Reporting by Dharna Bafna in Bengaluru; Editing by Shreya Biswas)

 ((Dharna.Bafna@thomsonreuters.com))