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Jun 30, 2023
NW Natural Q2 2023 Earnings Report
Reported financial results for the second quarter of 2023.
Key Takeaways
NW Natural Holdings reported a net income of $1.2 million, or $0.03 per share, for the second quarter of 2023, compared to $1.7 million, or $0.05 per share, for the same period in 2022. The results reflect higher operating costs, partially offset by new rates in Oregon and Washington for the natural gas utility. The company reaffirmed its 2023 earnings guidance in the range of $2.55 to $2.75 per share.
Net income was $1.2 million ($0.03 per share) for the second quarter of 2023, compared to $1.7 million ($0.05 per share) for the same period in 2022.
Net income was $72.9 million ($2.03 per share) for the first six months of 2023, compared to $58.0 million ($1.77 per share) for the same period in 2022.
Added nearly 6,400 natural gas meters in the last 12 months for a growth rate of 0.8% as of June 30, 2023.
Reaffirmed 2023 earnings guidance in the range of $2.55 to $2.75 per share.
NW Natural
NW Natural
Forward Guidance
NW Natural Holdings is reaffirming 2023 earnings guidance in the range of $2.55 to $2.75 per share. This guidance assumes continued customer growth, average weather conditions, and no significant changes in prevailing regulatory policies, mechanisms, or outcomes, or significant local, state or federal laws, legislation or regulations.
Positive Outlook
- Continued customer growth
- Average weather conditions
Challenges Ahead
- Significant changes in prevailing regulatory policies, mechanisms, or outcomes
- Significant local, state or federal laws, legislation or regulations