NiSource, Inc. (NYSE:NI) Q3 2023 Earnings Conference Call November 1, 2023 11:00 AM ET

Company Participants

Christopher Turnure - Director, IR

Lloyd Yates - President, CEO & Director

Michael Luhrs - EVP, Strategy & Risk and Chief Commercial Officer

Shawn Anderson - EVP & CFO

Randy Hulen - VP of IR and Treasurer

Conference Call Participants

Jamieson Ward - Guggenheim Partners

Durgesh Chopra - Evercore ISI

Richard Sunderland - JPMorgan

Paul Fremont - Ladenburg

Travis Miller - Morningstar

Aditya Gandhi - Wolfe Research

Julien Dumoulin-Smith - Bank of America.

Operator

Thank you for standing by. And welcome to the Q3 2023 NiSource Earnings Conference Call. I would now like to welcome Chris Turnure, Director of Investor Relations to begin the call. Chris, over to you.

Christopher Turnure

Good morning, and welcome to the NiSource Third Quarter 2023 Investor Call. Joining me today are President and Chief Executive Officer, Lloyd Yates; Executive Vice President and Chief Financial Officer, Shawn Anderson; Executive Vice President of Strategy and Risk and Chief Commercial Officer; Michael Luhrs, Executive Vice President and Group President, NiSource Utilities, Melody Birmingham; and Vice President of Investor Relations and Treasurer, Randy Hulen. The purpose of this presentation is to review NiSource's financial performance for the third quarter of 2023 as well as provide an update on our operations and growth drivers. Following our prepared remarks, we'll open the call to your questions. Slides for today's call are available in the Investor Relations section of our website.

We would like to remind you that some of the statements made during this presentation will be forward-looking. These statements are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in the statements. Information concerning such risks and uncertainties is included in the risk factors and MD&A sections of our periodic SEC filings. Additionally, some of the statements made on this call relate to non-GAAP measures. Please refer to the supplemental slides, segment information and full financial schedules for information on the most directly comparable GAAP measure and a reconciliation of these measures.

I'd now like to turn the call over to Lloyd.

Lloyd Yates

Thanks, Chris. Good morning and thank you for joining us. I'll start with an overview of our value proposition on slide three. At year-end 2022, we had $16.6 billion of rate base deployed for our customers, and today are outlining a refreshed base plan to invest another nearly $16 billion of capital over the next five years. We plan to execute on our resilient financial commitments supported by a superior regulatory and stakeholder foundation and balance sheet flexibility. Assuming a constant PE ratio, our plan can deliver a total shareholder return of 10% to 12%.