Loading...
•
Sep 30, 2020
NW Natural Q3 2020 Earnings Report
Reported a net loss for the third quarter of 2020 due to higher depreciation and general tax expenses, partially offset by regulatory deferral asset recognition and higher water and wastewater utilities earnings.
Key Takeaways
NW Natural Holdings reported a net loss of $0.61 per share for the third quarter of 2020, consistent with the same period in 2019. Year-to-date earnings were $0.80 per share, compared to $0.91 per share in 2019. The company reaffirmed its 2020 GAAP earnings guidance.
Reported a net loss of $0.61 per share from continuing operations for Q3 2020, same as Q3 2019.
Earned net income of $0.80 per share from continuing operations for the first nine months of 2020, down from $0.91 per share in the same period in 2019.
Added more than 14,000 natural gas meters over the last 12 months, a 1.9% growth rate.
Reaffirmed 2020 GAAP earnings guidance from continuing operations in the range of $2.25 to $2.45 per share, guiding toward the lower end of the range due to COVID-19 effects.
NW Natural
NW Natural
Forward Guidance
NW Natural Holdings reaffirmed 2020 earnings guidance from continuing operations in the range of $2.25 to $2.45 per share and guided toward the lower end of the range due to potential implications from COVID-19.
Positive Outlook
- Continued customer growth
- Average weather conditions
- No significant changes in prevailing regulatory policies, mechanisms, or outcomes
- No significant changes in significant local, state or federal laws, legislation or regulations
Challenges Ahead
- Potential implications from COVID-19