Northwest Natural Gas ( (NWN) ) has released its Q4 earnings. Here is a breakdown of the information Northwest Natural Gas presented to its investors.
Northwest Natural Holding Company, a key player in the energy sector, provides natural gas, water, and wastewater services across multiple states, with a focus on safety, environmental stewardship, and the energy transition. The company reported its financial results for 2024, highlighting a net income of $2.03 per share and adjusted earnings of $2.33 per share, a decrease from the previous year due to regulatory delays in Oregon. Notable achievements include the acquisition of SiEnergy, the addition of nearly 10,000 utility connections, and the commencement of operations at two renewable natural gas facilities.
The company’s financial performance was impacted by a decline in net income from its natural gas distribution segment, attributed to higher pension expenses, lower interest income, and increased depreciation costs. However, new rates in Oregon, effective from November 2024, contributed positively to the margin. NW Natural Holdings also invested significantly in its utility systems, with $394.4 million allocated to enhance reliability and resiliency.
Strategically, the acquisition of SiEnergy marks a significant expansion into the Texas market, adding approximately 70,000 customers. The company also closed the Puttman/ICH water acquisition, further strengthening its growth pipeline. NW Natural Holdings has initiated 2025 earnings guidance, projecting GAAP EPS between $2.66 and $2.86, and adjusted EPS between $2.75 and $2.95, reaffirming its long-term EPS growth target of 4% to 6% annually.
Looking ahead, NW Natural Holdings remains committed to its long-term growth strategy, focusing on customer satisfaction and infrastructure investments. The company plans capital expenditures between $450 million and $500 million for 2025, with a broader investment range of $2.5 billion to $2.7 billion through 2030. Management is optimistic about continuing to provide safe and reliable services while delivering value to stakeholders.