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Dec 31, 2021
NW Natural Q4 2021 Earnings Report
Reported fourth quarter and full year results, initiated 2022 earnings guidance, and increased long-term EPS growth rate target.
Key Takeaways
NW Natural Holdings reported a net income of $40.5 million for the fourth quarter of 2021, a decrease compared to $45.8 million for the same period in 2020. The company initiated 2022 earnings guidance in the range of $2.45 to $2.65 per share and increased the long-term earnings per share growth rate target to 4% to 6%.
Net income from continuing operations decreased by $5.3 million in Q4 2021 compared to Q4 2020.
Natural gas distribution segment net income decreased due to higher operations and maintenance and depreciation expenses, partially offset by new rates in Oregon and Washington.
Margin increased primarily due to new rates and customer growth of 1.5% over the last 12 months.
NW Natural Renewables launched a competitive RNG strategy and hired a president to lead the new business line.
Forward Guidance
NW Natural Holdings is initiating 2022 earnings guidance in the range of $2.45 to $2.65 per share. NW Natural Holdings increased its long-term earnings per share growth rate target to 4% to 6% compounded annually from 2022 through 2027.
Positive Outlook
- Continued customer growth
- Average weather conditions
- No significant changes in prevailing regulatory policies
- No significant changes in mechanisms, or outcomes
- No significant local, state or federal laws, legislation or regulations
Historical Earnings Impact
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Avg. Return Before/After Earnings
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