Northwest Natural Holding Company · Q3 2022 earnings

Briefing

Reported a net loss for the third quarter of 2022.

NW Natural Holdings reported a net loss of $19.6 million ($0.56 per share) for the third quarter of 2022, compared to a net loss of $20.7 million ($0.67 per share) for the same period in 2021. The third quarter reflects the seasonal nature of the gas utility's earnings where the majority of revenues are generated during the winter heating season in the first and fourth quarters each year.

• Reported a net loss of $19.6 million ($0.56 per share) for the third quarter of 2022, compared to a net loss of $20.7 million ($0.67 per share) for the same period in 2021
• Earned net income of $38.4 million ($1.14 per share) for the first nine months of 2022, compared to earnings of $38.1 million ($1.24 per share) for the same period in 2021
• Added nearly 8,800 natural gas meters in the last 12 months for a growth rate of 1.1% as of September 30, 2022
• Increased our dividend for the 67th consecutive year to an annual indicated dividend rate of $1.94 per share

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.