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Mar 31, 2022
NW Natural Q1 2022 Earnings Report
Reported net income of $1.80 per share for the first quarter of 2022.
Key Takeaways
NW Natural Holdings reported a decrease in net income for the first quarter of 2022, with earnings of $1.80 per share compared to $1.94 per share for the same period in 2021. The company added over 10,800 natural gas meters in the last 12 months and commenced operations at its first renewable natural gas facility.
Net income was $1.80 per share for Q1 2022, compared to $1.94 per share in Q1 2021, which included a $2.8 million after-tax benefit from a cold weather event.
Added more than 10,800 natural gas meters in the last 12 months, a growth rate of 1.4% as of March 31, 2022.
Operations commenced at the first renewable natural gas (RNG) facility under Oregon Senate Bill 98.
Reaffirmed 2022 earnings guidance in the range of $2.45 to $2.65 per share and long-term earnings per share growth rate target of 4% to 6%.
NW Natural
NW Natural
Forward Guidance
NW Natural Holdings reaffirmed 2022 earnings guidance in the range of $2.45 to $2.65 per share.
Positive Outlook
- Continued customer growth
- Average weather conditions
- No significant changes in prevailing regulatory policies
- No significant changes in regulatory mechanisms
- No significant changes in regulatory outcomes
Challenges Ahead
- No significant changes in local laws
- No significant changes in state laws
- No significant changes in federal laws
- No significant changes in legislation
- No significant changes in regulations