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Jun 30, 2025
NW Natural Q2 2025 Earnings Report
NW Natural Holdings reported a net loss of $0.06 per share and adjusted net income of $0.01 per share for the second quarter of 2025, alongside strategic acquisitions and reaffirmed 2025 adjusted EPS guidance.
Key Takeaways
NW Natural Holdings reported a net loss of $2.5 million for the second quarter of 2025, or $0.06 per share, which was an improvement compared to a net loss of $2.8 million, or $0.07 per share, in the same period last year. Adjusted net income for the quarter was $0.3 million, or $0.01 per share. The company saw strong customer growth, adding over 92,000 gas and water utility connections in the last 12 months, primarily due to the acquisitions of SiEnergy and Pines. They also reaffirmed their adjusted 2025 EPS guidance.
Reported a net loss of $0.06 per share and adjusted net income of $0.01 per share for Q2 2025, showing an improvement from the prior year's net loss.
Acquired Hughes Gas Resources, Inc. (rebranded Pines Holdings), a high-growth Texas gas utility, expanding their regulated gas utility business.
Added over 92,000 gas and water utility connections in the last 12 months, driven by acquisitions and strong organic customer growth of 1.9% (annualized).
Reaffirmed adjusted 2025 EPS guidance of $2.75 to $2.95 and long-term EPS growth rate target of 4% to 6%.
Revenue by Segment
Forward Guidance
NW Natural Holdings updated its 2025 GAAP EPS guidance to $2.60 to $2.80 and reaffirmed its adjusted 2025 EPS guidance of $2.75 to $2.95. The company also reaffirmed its long-term EPS growth rate target of 4% to 6% compounded annually from the expected 2025 adjusted EPS.
Positive Outlook
- Reaffirmed adjusted 2025 EPS guidance of $2.75 to $2.95, indicating confidence in core business performance.
- Reaffirmed long-term EPS growth rate target of 4% to 6% compounded annually, suggesting sustained future growth.
- Assumes continued customer growth, which is a key driver for revenue expansion.
- Expected capital expenditures for 2025 are in the range of $450 million to $500 million, indicating continued investment in infrastructure.
- New rates in Oregon are expected to take effect Oct. 31, 2025, which should positively impact future revenue.
Challenges Ahead
- Updated 2025 GAAP EPS guidance to a slightly lower range ($2.60 to $2.80) due to final transaction costs from the Pines acquisition and business development costs.
- Guidance assumes average weather conditions, implying potential sensitivity to weather fluctuations.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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