Northwest Natural Gas Q1 Earnings Call Highlights

2 days ago 5

MarketBeat

Wed, May 13, 2026 astatine 6:07 AM CDT 6 min read

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Northwest Natural Gas (NYSE:NWN) said first-quarter 2026 results were beardown and successful enactment with management’s expectations, driven by caller rates, lawsuit maturation and show crossed its regulated inferior businesses.

President and CEO Justin Palfreyman said the company’s state inferior systems “performed precise good implicit the heating season,” portion the broader Northwest Natural Holdings level benefited from having 3 regulated inferior businesses. He said the institution remains focused connected “disciplined execution, dependable net growth, and charismatic wide shareholder returns.”

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Senior Vice President and CFO Ray Kaszuba said adjusted net per stock roseate to $2.33 from $2.28 successful the prior-year quarter. Adjusted nett income accrued by $5.7 million. Kaszuba said the EPS summation was driven by caller rates, peculiarly astatine Northwest Natural, and lawsuit growth, partially offset by higher depreciation disbursal and financing needs tied to strategy investments.

The institution reaffirmed its full-year 2026 net guidance of $2.95 to $3.15 per stock and maintained its semipermanent EPS maturation people of 4% to 6%. Management said the SiEnergy and h2o businesses are inactive expected to lend astir 25% of consolidated EPS successful 2026.

Regulatory Filings Remain Central to 2026 Strategy

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Palfreyman highlighted respective regulatory initiatives intended to trim regulatory lag and nutrient a much balanced net profile. In Washington, Northwest Natural filed a multi-party colony successful March with the Washington Utilities and Transportation Commission resolving each gross request aspects of its multi-year wide complaint case. The colony remains taxable to committee approval.

The projected Washington colony provides for yearly gross request increases implicit 3 years: $20.1 cardinal successful the archetypal twelvemonth opening August 1, 2026, $7.7 cardinal successful the 2nd twelvemonth and $8.7 cardinal successful the 3rd year. It includes a superior operation of 50% equity and 50% semipermanent indebtedness and a 9.5% instrumentality connected equity.

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In Oregon, Palfreyman said the institution remains engaged with unit and different parties connected multi-year complaint lawsuit rulemaking. He said the process could widen into 2027. In the meantime, Northwest Natural filed an alternate complaint mechanics to retrieve definite safety, accusation exertion and ample nationalist works investments. That connection contemplates a 1.5% complaint summation opening October 31, 2026.

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