Northwest Natural (NWN) Earnings Call Transcript

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Friday, Feb. 27, 2026 astatine 11 a.m. ET

• President and Chief Executive Officer — Justin Palfreyman

• Senior Vice President and Chief Financial Officer — Raymond J. Kaszuba

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Justin Palfreyman, President and Chief Executive Officer, and Raymond J. Kaszuba, Senior Vice President and Chief Financial Officer. Justin volition supply highlights from 2025 and a look forward, and Ray volition locomotion done our fiscal results and guidance. After Justin and Ray's prepared remarks, we volition big a question and reply session. With that, I volition crook the telephone implicit to Justin.

Justin Palfreyman: Thanks, Nikki. Good morning, and welcome, everyone. We are excited to stock our results for the twelvemonth and our expectations for the future. Northwest Natural Holding Company began a caller section successful 2025, delivered grounds adjusted net per stock astatine the apical of our guidance range, deployed a grounds magnitude of superior to enactment our customers, and reported our strongest integrated lawsuit maturation successful astir 2 decades. Those results are not an accident. They were driven by deliberate strategical decisions we person made arsenic a company, bespeak our absorption team's absorption connected execution, and foreshadow the spot of our level going forward.

Over the past fewer years, we person taken steps to diversify into the h2o inferior business, grow into aggregate and adhd Texas state utilities to further heighten our semipermanent maturation prospects. What began arsenic a azygous inferior successful the Pacific Northwest has evolved into 3 thriving businesses serving customers crossed six states. Our 2025 show is simply a effect of these strategical decisions. We person acceptable the signifier for maturation portion fulfilling our ngo of delivering safe, reliable, and affordable work to our increasing lawsuit base. We are inactive successful the aboriginal chapters of our occurrence story. As you know, we are successful an property of tremendous vigor demand.

Natural state plays a captious relation successful gathering that need, and we are uniquely positioned to code it. That is wherefore we are excited to denote our caller MX3 retention enlargement task successful the Pacific Northwest, a task that volition heighten determination reliability and capableness and 1 that has the imaginable to thrust our semipermanent net maturation people to 5% to 7% erstwhile we person announcement to proceed. As our communicative progresses, we stay focused connected disciplined execution and delivering consistent, increasing net and returns for our shareholders. The momentum we person built positions america for adjacent greater occurrence successful the future.