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Mar 31, 2020
NW Natural Q1 2020 Earnings Report
Reported earnings increase in Q1 2020 compared to Q1 2019.
Key Takeaways
NW Natural Holdings reported a net income from continuing operations of $48.3 million, or $1.58 per share, for the first quarter of 2020, compared to $43.4 million, or $1.50 per share, for the same period in 2019. The company reaffirmed its 2020 GAAP earnings guidance from continuing operations in the range of $2.25 to $2.45 per share and guided toward the lower end of the range due to potential implications from COVID-19.
Reported first quarter 2020 earnings of $1.58 per share from continuing operations, compared to earnings of $1.50 per share for the same period in 2019.
Provided customers with essential natural gas and water utility services during coronavirus pandemic (COVID-19).
Added more than 12,400 natural gas meters over the last 12 months equating to a 1.6% growth rate.
Closed four water utility transactions in 2020 bringing total connections to 25,000 serving about 61,000 people.
Forward Guidance
NW Natural Holdings reaffirmed 2020 earnings guidance from continuing operations in the range of $2.25 to $2.45 per share and guided toward the lower end of the range due to potential implications from COVID-19.
Positive Outlook
- Continued customer growth
- Average weather conditions
- No significant changes in prevailing regulatory policies, mechanisms, or outcomes
- No significant local, state or federal laws, legislation or regulations
- The majority of capital projects continue to move forward at this time.
Challenges Ahead
- Potential implications from COVID-19
- Customer losses
- Bad debt expense
- Lower late charge and reconnection fee revenues
- Regulatory recovery
Historical Earnings Impact
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Avg. Return Before/After Earnings
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