NW Natural Holdings Q1 net income up 27.5% to $71.7M; reaffirms FY23 EPS guidance

Northwest Natural Holding Co

2023-Q1 EPS reported $2.01 revenue$462,423,000

Q1 net income $71.7M ($2.01 diluted EPS) vs $56.2M ($1.80) a year ago.
Added ~8,100 natural gas meters in last 12 months, growth rate 1.0%.
Dakota City RNG facility commenced operations in April 2023.
NW Natural Water launched O&M services business; to add 15K connections.
Quarterly dividend declared at $0.485/share ($1.94 annual); reaffirmed FY23 EPS guidance $2.55-$2.75.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Northwest Natural Holding Co reported the quarter ended March 31, 2023 results: net income $71.7 million, EPS $2.01 per share. Guidance reaffirmed.

Period: the quarter ended March 31, 2023
Net income: $71.7 million
EPS: $2.01 per share
Guidance: reaffirmed
Result: reported results

Exact text from the filing

reported financial results and highlights including: • Reported net income of $71.7 million ($2.01 per share) for the first three months of 2023, compared to earnings of $56.2 million ($1.80 per share) for the same period in 2022 • Added nearly 8,100 natural gas meters in the last 12 months for a growth rate of 1.0% as of March 31, 2023 • Completed construction on Dakota City renewable natural gas (RNG) facility, which is designed to provide environmental attributes on behalf of NW Natural customers • Broadening its scope, NW Natural Water launched an operations & maintenance service business • Honored as one of the 2023 World's Most Ethical Companies® by Ethisphere for the second year in a row 1 • Reaffirmed 2023 earnings guidance in the range of $2.55 to $2.75 per share and our long-term earnings per share growth rate target of 4% to 6% compounded annually from 2022 through 2027

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Source: SEC EDGAR

accession 0001733998-23-000013

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