Northwestern ( (NWE) ) has released its Q4 earnings. Here is a breakdown of the information Northwestern presented to its investors.
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NorthWestern Energy Group, a provider of electricity and natural gas services to approximately 787,000 customers in Montana, South Dakota, Nebraska, and Yellowstone National Park, is a key player in the energy sector, known for its commitment to providing safe, reliable, and affordable energy.
NorthWestern Energy reported an increase in its 2024 financial results, with a GAAP diluted earnings per share of $3.65, up from $3.22 in 2023, and an adjusted non-GAAP EPS of $3.40, compared to $3.27 the previous year. The company affirmed its long-term EPS growth rate of 4% to 6% and announced a quarterly dividend increase to $0.66 per share.
Key financial highlights include a net income of $224.1 million, driven by favorable rate reviews in Montana and South Dakota, higher electric transmission revenues, and income tax benefits, despite challenges such as non-recoverable electric supply costs and increased insurance and interest expenses. The company unveiled a $2.7 billion 5-year capital plan, an 11% increase over the prior plan, and continued its strategic investments, including the substantial completion of the 175MW Yellowstone County Generating Station.
NorthWestern Energy’s strategic initiatives focused on enhancing system resilience and sustainability, such as filing rate reviews to support necessary investments, acquiring additional interests in Colstrip Units, and advancing regional transmission projects. These actions align with the company’s long-term strategy to provide reliable and cost-effective energy services.
Looking ahead, NorthWestern Energy remains optimistic about its growth trajectory, positioning itself to build on the momentum of 2024 by continuing investments in infrastructure and strategic acquisitions, while maintaining its commitment to delivering value for shareholders and reliable service to its customers.
