NiSource Inc. (NI) Revenue by Segment

NiSource revenue by segment at a glance

In Q2 fiscal 2026 (the quarter ended June 30, 2026), NiSource's largest business segment was NiSource Gas Distribution, with $752.40 million or 58% of revenue, down 3.3% from a year earlier. Next: NiSource Electric Generation and Power Delivery (42%).

By customer type, Residential brought in 48%, Commercial brought in 26% and Industrial brought in 18% of revenue in Q3 fiscal 2022.

The fastest-growing business segment from a year earlier was NiSource Electric Generation and Power Delivery (+14.6%).

From company filings, in USD; latest quarter ended June 30, 2026; quarterly data from Q1 fiscal 2018.

NiSource Inc.

NIUtilities

United States

Utilities

Revenue breakdown

Fiscal quarters, from company filings

Segments by quarter (USD)

Click a bar to see that period below. Striped bars are calculated fourth quarters; an empty slot means it could not be calculated on the same basis i

Gas Distribution OperationsNiSource Gas DistributionElectric OperationsNiSource Electric Generation and Power DeliveryColumbia OperationsNIPSCO OperationsCorporate Segment and Other Operating

Q2 FY26 breakdown

Fiscal quarter ended Jun 30, 2026

Item	Revenue	Share	vs year before	Trend
NiSource Gas Distribution	USD 752.40M	58.3%	-3.3%
NiSource Electric Generation and Power Delivery	USD 537.10M	41.7%	+14.6%

Sum of items USD 1.29B. Shares are of the items shown. Click an item with › to see its parts.

Also reported by:

All periods

Every item and period in one grid. Purple = calculated; "–" = not available.

Item	Q2 FY26	Q1 FY26	Q4 FY25	Q3 FY25	Q2 FY25	Q1 FY25	Q4 FY24	Q3 FY24	Q2 FY24	Q1 FY24	Q4 FY23	Q3 FY23	Q2 FY23	Q1 FY23	Q4 FY22	Q3 FY22	Q2 FY22	Q1 FY22	Q4 FY21	Q3 FY21	Q2 FY21	Q1 FY21	Q4 FY20	Q3 FY20	Q2 FY20	Q1 FY20	Q4 FY19	Q3 FY19	Q2 FY19	Q1 FY19	Q4 FY18	Q3 FY18	Q2 FY18	Q1 FY18
Gas Distribution Operations	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	575.5M	744.3M	1.4B	988.8M	475.3M	577.3M	1.1B	823.7M	473.1M	609.3M	1.2B	1.0B	463.6M	603.8M	1.4B	1.1B	418.6M	601.9M	1.3B
NiSource Gas Distribution	752.4M	1.8B	–	607.1M	777.9M	1.7B	–	531.0M	605.3M	1.2B	–	524.9M	688.4M	1.5B	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–
Electric Operations	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	516.5M	437.3M	430.3M	411.4M	479.1M	403.7M	402.7M	370.2M	432.3M	356.4M	377.5M	393.5M	467.7M	406.4M	430.8M	381.5M	476.2M	404.9M	423.3M
NiSource Electric Generation and Power Delivery	537.1M	522.3M	–	633.1M	468.6M	479.0M	–	515.1M	448.8M	414.2M	–	477.7M	378.8M	441.0M	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–
Columbia Operations	–	–	1.0B	–	–	–	–	–	–	–	19.4M	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–
NIPSCO Operations	–	–	873.7M	–	–	–	–	–	–	–	20.5M	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–
Corporate Segment and Other Operating	–	–	–	–	–	–	–	–	–	–	200.0K	–	–	–	–	–	–	–	8.4M	–	–	–	17.1M	–	–	–	200.0K	200.0K	200.0K	200.0K	100.0K	200.0K	200.0K	200.0K

NiSource revenue by business segment, last 4 quarters

Business segment	Q2 FY26	Q1 FY26	Q3 FY25	Q2 FY25	Share
NiSource Gas Distribution	$752.4M	$1.8B	$607.1M	$777.9M	58%
NiSource Electric Generation and Power Delivery	$537.1M	$522.3M	$633.1M	$468.6M	42%

In USD, fiscal quarters as reported; share = part of Q2 FY26 revenue.

NiSource revenue by customer type, last 4 quarters

Customer type	Q3 FY22	Q2 FY22	Q1 FY22	Q3 FY21	Share
Residential	$508.9M	$602.0M	$1.1B	$483.0M	48%
Commercial	$273.5M	$295.3M	$491.0M	$250.8M	26%
Industrial	$194.5M	$186.8M	$197.6M	$166.7M	18%
Off-system	$72.7M	$59.1M	$18.7M	$14.5M	7%
Misc.	$8.6M	$13.3M	$17.6M	$3.8M	1%

In USD, fiscal quarters as reported; share = part of Q3 FY22 revenue.

Questions and answers

What are NiSource's business segments?

NiSource Gas Distribution and NiSource Electric Generation and Power Delivery (as reported for Q2 fiscal 2026).

Which business segment makes the most money for NiSource?

NiSource Gas Distribution: $752.40 million, or 58% of revenue, in Q2 fiscal 2026.

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Disclaimer: This analysis is for informational and educational purposes only and does not constitute financial, investment, tax, or legal advice. Data may be incomplete, delayed, or contain inaccuracies. Consult with a qualified financial advisor before making any investment decisions.