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Dec 31, 2022
NW Natural Q4 2022 Earnings Report
Reported strong financial results driven by new rates and customer growth.
Key Takeaways
NW Natural Holdings reported a net income of $47.9 million, or $1.36 per share, for the fourth quarter of 2022, compared to $40.5 million, or $1.32 per share, for the same period in 2021. The increase was primarily driven by new rates in Oregon and Washington, partially offset by higher operating expenses.
Net income increased driven by new rates in Oregon and Washington.
New rates went into effect on Nov. 1, 2022 related to Oregon and Washington NW Natural general rate cases
Customer base grew by 1.1% over the last 12 months.
NW Natural Water closed its largest water and wastewater acquisition to date in Yuma, Arizona.
Forward Guidance
NW Natural Holdings is initiating 2023 earnings guidance in the range of $2.55 to $2.75 per share. The long-term earnings per share growth rate target is 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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