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Mar 31, 2021
NW Natural Q1 2021 Earnings Report
Reported financial results for Q1 2021, reflecting new rates, customer growth, and asset management benefits, offset by COVID-19 effects.
Key Takeaways
NW Natural Holdings reported a net income of $59.5 million, or $1.94 per share, for the first quarter of 2021, compared to $48.3 million, or $1.58 per share, for the same period in 2020. The results were driven by new rates in Oregon, customer growth, and asset management benefits, partially offset by the financial effects of COVID-19.
Q1 2021 earnings were $1.94 per share, compared to $1.58 per share for the same period in 2020.
Added over 11,000 natural gas meters in the last 12 months, representing a growth rate of 1.4%.
NW Natural Water acquired companies near existing service territories, providing water and wastewater service to approximately 63,000 people through 26,000 connections.
2021 earnings guidance reaffirmed in the range of $2.40 to $2.60 per share.
NW Natural
NW Natural
Forward Guidance
NW Natural Holdings reaffirmed 2021 earnings guidance in the range of $2.40 to $2.60 per share.
Positive Outlook
- Continued customer growth
- Average weather conditions
- No significant changes in prevailing regulatory policies
- No significant changes in prevailing regulatory mechanisms or outcomes
- No significant changes in significant local, state or federal laws, legislation or regulations