Northwest Natural Holding Company · Q2 2022 earnings

Briefing

Reported a net income increase due to customer growth, new rates in Washington, and lower pension expenses, offset by higher operations and maintenance expenses.

NW Natural Holdings reported a net income of $1.7 million ($0.05 per share) for the second quarter of 2022, compared to a net loss of $0.7 million ($0.02 per share) for the same period in 2021. The company reaffirmed its 2022 earnings guidance in the range of $2.45 to $2.65 per share and its long-term earnings per share growth rate target of 4% to 6%.

• Reported net income of $1.7 million ($0.05 per share) for the second quarter of 2022, compared to a net loss of $0.7 million ($0.02 per share) for the same period in 2021.
• Earned net income of $58.0 million ($1.77 per share) for the first six months of 2022, compared to earnings of $58.8 million ($1.92 per share) for the same period in 2021.
• Added nearly 10,200 natural gas meters in the last 12 months for a growth rate of 1.3% as of June 30, 2022.
• Reaffirmed 2022 earnings guidance in the range of $2.45 to $2.65 per share and our long-term earnings per share growth rate target of 4% to 6%.

Headline financials

Revenue & EPS history

NW Natural Holdings reaffirmed 2022 earnings guidance in the range of $2.45 to $2.65 per share. This guidance assumes continued customer growth, average weather conditions, and no significant changes in prevailing regulatory policies, mechanisms, or outcomes, or significant local, state or federal laws, legislation or regulations. NW Natural Holdings reaffirmed its long-term earnings per share growth rate target of 4% to 6% compounded annually from 2022 through 2027.