NYSE$NWN
Northwest Natural Holding Company · Q1 2024 earnings
Q1 2024 earnings · · Investor relations
Briefing
Reported net income for the first quarter of 2024 and added nearly 15,000 gas and water utility connections.
NW Natural Holdings reported a net income of $63.8 million ($1.69 per share) for Q1 2024, compared to $71.7 million ($2.01 per share) for the same period in 2023. The company added nearly 15,000 gas and water utility connections in the last 12 months, representing a growth rate of 1.7%. They reaffirmed their 2024 earnings guidance in the range of $2.20 to $2.40 per share.
- Net income was $63.8 million ($1.69 per share) for the first quarter of 2024, compared to $71.7 million ($2.01 per share) for the same period in 2023.
- Added nearly 15,000 gas and water utility connections in the last 12 months, a growth rate of 1.7% as of March 31, 2024.
- Oregon gas customers received bill credits totaling nearly $30 million in early 2024.
- Reaffirmed 2024 earnings guidance in the range of $2.20 to $2.40 per share and long-term earnings per share growth rate target of 4% to 6% from 2022 through 2027.
Headline financials
Revenue & EPS history
NW Natural · Revenue · Quarterly
$433M
Forward guidance
NW Natural Holdings reaffirmed its 2024 annual earnings guidance in the range of $2.20 to $2.40 per share.
Tailwinds
- Continued customer growth
- Average weather conditions
- No significant changes in prevailing regulatory policies, mechanisms, or outcomes
- No significant changes in local, state or federal laws, legislation or regulations
Headwinds
- Regulatory lag from our natural gas distribution segment
- Substantial investments to provide continued safe and reliable service for our customers
- Elevated investment in technology, which is shorter lived and results in higher depreciation expense
- Increasing operating expenses due to several multi-year operations and maintenance contracts renewing
- Higher personnel costs and increased pension expense
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q1 2024
-0.4%
Avg return
Earnings day
+0.1%
Avg return
5 days after
-0.6%
Avg return
30 days after
36%
23 / 64 earnings
Positive
+10.7%
Q4 2021
Best reaction
-7.9%
Q4 2023
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -7.7% | -4.4% | -5.5% | |
| Q4 2025 | +5.7% | +4.5% | +5.1% | |
| Q3 2025 | -1.3% | +0.6% | -1.0% | |
| Q1 2025 | +0.0% | -1.7% | -8.6% | |
| Q4 2024 | -0.6% | +1.3% | +3.6% | |
| Q3 2024 | -0.4% | -0.7% | +0.3% | |
| Q2 2024 | -5.6% | -6.1% | -0.3% | |
| Q1 2024 | -0.7% | +0.0% | -4.5% | |
| Q4 2023 | -7.9% | -6.6% | -9.7% | |
| Q3 2023 | -2.2% | -4.8% | -3.3% | |
| Q2 2023 | -1.8% | -2.8% | -7.5% | |
| Q1 2023 | +2.0% | +0.3% | -6.1% | |
| Q4 2022 | -0.8% | -2.3% | -3.6% | |
| Q3 2022 | +1.0% | +5.0% | +6.4% | |
| Q2 2022 | -1.4% | -1.9% | -10.9% | |
| Q1 2022 | +3.7% | +4.8% | +16.7% | |
| Q4 2021 | +10.7% | +14.7% | +17.2% | |
| Q3 2021 | -1.0% | -1.0% | -3.6% | |
| Q2 2021 | -0.7% | -1.8% | -5.2% | |
| Q1 2021 | +1.2% | +2.3% | -0.5% | |
| Q4 2020 | -1.1% | -2.7% | +7.9% | |
| Q3 2020 | -1.0% | +16.5% | +10.1% | |
| Q2 2020 | +1.3% | +2.4% | -6.8% | |
| Q1 2020 | +0.3% | -6.4% | +1.5% | |
| Q4 2019 | -1.1% | +5.2% | -14.9% | |
| Q3 2019 | -2.1% | -3.2% | +2.7% | |
| Q2 2019 | -0.3% | -0.1% | +1.3% | |
| Q1 2019 | -1.9% | +0.4% | -1.0% | |
| Q4 2018 | +2.0% | +0.1% | +2.2% | |
| Q3 2018 | +2.3% | +3.1% | +0.3% | |
| Q2 2018 | -3.6% | -2.2% | +2.5% | |
| Q1 2018 | -3.1% | -2.2% | -6.9% | |
| Q4 2017 | -1.8% | -4.7% | +1.3% | |
| Q3 2017 | -0.1% | +1.4% | +3.5% | |
| Q2 2017 | +0.5% | +0.9% | +3.6% | |
| Q1 2017 | -0.5% | +0.8% | +3.9% | |
| Q4 2016 | -2.1% | -3.3% | -3.5% | |
| Q3 2016 | -1.5% | +0.6% | -0.5% | |
| Q2 2016 | +0.3% | -0.8% | -7.6% | |
| Q1 2016 | +4.9% | — | — | |
| Q4 2015 | -5.2% | — | — | |
| Q3 2015 | -0.3% | — | — | |
| Q2 2015 | +1.0% | — | — | |
| Q1 2015 | -3.7% | — | — | |
| Q4 2014 | -2.8% | — | — | |
| Q3 2014 | -0.7% | — | — | |
| Q2 2014 | -0.2% | — | — | |
| Q1 2014 | +0.9% | — | — | |
| Q4 2013 | -1.9% | — | — | |
| Q3 2013 | +0.1% | — | — | |
| Q2 2013 | -1.5% | — | — | |
| Q1 2013 | -0.7% | — | — | |
| Q4 2012 | +3.5% | — | — | |
| Q3 2012 | +0.0% | — | — | |
| Q2 2012 | +0.2% | — | — | |
| Q1 2012 | +0.9% | — | — | |
| Q4 2011 | -0.1% | — | — | |
| Q3 2011 | -2.6% | — | — | |
| Q2 2011 | +2.0% | — | — | |
| Q1 2011 | +0.2% | — | — | |
| Q4 2010 | -0.4% | — | — | |
| Q3 2010 | +1.5% | — | — | |
| Q2 2010 | -1.2% | — | — | |
| Q1 2010 | -0.0% | — | — |
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