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Mar 31, 2025
NW Natural Q1 2025 Earnings Report
Reported solid first quarter 2025 results
Key Takeaways
NW Natural Holdings reported strong Q1 2025 results, with GAAP EPS of $2.18 and adjusted EPS of $2.28, showing significant increases from the prior year. The company's performance was boosted by new rates, the acquisition of SiEnergy, and growth in their water and renewables businesses. They also announced an agreement to acquire another Texas gas utility, Hughes Gas Resources, Inc.
Reported GAAP EPS of $2.18 and adjusted EPS of $2.28 for Q1 2025.
Net income increased by $24.1 million to $87.9 million compared to Q1 2024.
Closed the acquisition of SiEnergy, a Texas gas utility, in early January 2025.
Signed an agreement to acquire Hughes Gas Resources, Inc., adding scale to the Texas gas utility platform.
Revenue by Segment
Forward Guidance
NW Natural Holdings updated its 2025 GAAP EPS guidance to $2.65 to $2.85 and reaffirmed adjusted EPS guidance of $2.75 to $2.95, excluding transaction costs. They also reaffirmed their long-term EPS growth rate target of 4% to 6%. Capital expenditures for 2025 are expected to be in the range of $450 to $500 million.
Positive Outlook
- Reaffirmed adjusted EPS guidance of $2.75 to $2.95 for 2025.
- Reaffirmed long-term EPS growth rate target of 4% to 6%.
- Expects continued customer growth.
- Capital expenditures expected to be in the range of $450 - $500 million to support growth and reliability.
- Hughes acquisition expected to be accretive in the first full year of operations.
Challenges Ahead
- Updated 2025 GAAP EPS guidance slightly lower due to expected transaction costs from the Hughes acquisition.
- Guidance assumes average weather conditions.
- Guidance assumes no significant changes in prevailing regulatory policies, mechanisms, or assumed outcomes.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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