NWN

Interested in Northwest Natural Gas Company? Here are five stocks we like better. Northwest Natural expects 2026 EPS in the top half of its $2.95–$3.15 guidance range, supported by strong first-half results, cost management and expected benefits from new Washington rates and Oregon regulatory changes. The company advanced key regulatory and growth initiatives: Washington approved more than 80% of its requested revenue increase, SiEnergy customer growth exceeded 15%, and the water business continued expanding despite higher integration costs. The $300 million MX3 gas-storage project remains on schedule despite an appeal, with notice to proceed expected by 2027 and in-service operations targeted for 2029; 2026 capital spending is projected at $500 million–$550 million. 5 Dividend Kings Stocks to Load Up on Now Northwest Natural Gas (NYSE:NWN) said it expects 2026 earnings per share to land in the top half of its previously issued $2.95 to $3.15 guidance range, citing stronger-than-expected first-half performance, increased visibility into the second half and continued cost management. Northwest Natural Holdings reported second-quarter earnings per share of $0.01, unchanged from the prior-year period and above management's expectations. Year-to-date EPS was $2.33, compared with adjusted EPS of $2.28 in the first half of 2025. → Sandisk Just Delivered a Blowout Quarter—Here's Why the Stock Is Falling It's a Good Time To Buy High-Yield Dogs of the Dividend Kings President and Chief Executive Officer Justin Palfreyman said the company’s performance reflected operational execution across its gas, Texas utility and water businesses, alongside progress on regulatory matters and major growth projects. At Northwest Natural Gas, the company said it has filed a multiparty settlement in its Oregon alternative rate mechanism proceeding. The settlement would provide a $13 million revenue requirement, compared with the company’s original $15.6 million request. Management expects an Oregon Public Utility Commission order later in 2026, with new rates targeted to take effect Oct. 31, 2026. → 4 Oil and Gas ETF Plays as Prices Stay Sky-High Dividend Kings With the Highest Yield: 6 High Yields in 5 Minutes The company is also participating in Oregon’s multiyear rate-plan rulemaking process. Phase I has concluded and addressed concepts including five-year rate plans, revenue indexing and capital-funding mechanisms. Phase II is underway and is expected to establish further details, with the full process projected to conclude before the end of 2027. Under the current schedule, Northwest Natural expects to file its first multiyear general rate case under the prospective rules in 2028, with resulting rates effective in 2029. Palfreyman said the company has other options, including traditional rate cases, to support timely investment recovery before then. → No Hangover: Revisiting Microsoft One Week After Earnings In Washington, the company received an order in its multiyear rate case that granted more than 80% of its requested revenue-requirement increase. The order established a 50% equity and 50% long-term debt capital structure and a 9.5% return on equity. It also preserved the line-extension allowance for prospective customers. New Washington rates took effect Aug. 1. Northwest Natural invested more than $165 million in gas-system infrastructure during the first half of 2026, supporting customer growth, system reliability and modernization, according to management. SiEnergy, the company’s Texas gas utility, reported organic customer growth of more than 15% during the quarter. Management said it has more than 260,000 future meters in its backlog and continues to expect annual customer growth of roughly 15% to 20% through 2030. SiEnergy filed a rate case with the Railroad Commission of Texas on May 4. The company said it continues to work through the case, including elements needed to implement its GRIP mechanism, and expects new rates later in 2026. SiEnergy generated EPS of $0.05 in the second quarter, up from $0.03 a year earlier. Chief Financial Officer Ray Kaszuba attributed the increase primarily to customer growth, deferred depreciation, interest and general taxes, as well as a full quarter of contribution from Pines, which was acquired in June 2025. Northwest Natural Water recorded 3.4% customer growth for the 12 months ended June 30. Its second-quarter EPS was $0.05, compared with $0.07 in the year-earlier quarter. Kaszuba said higher revenue from organic growth and acquisitions was offset by higher operations and maintenance costs tied to platform integration and centralization. The water operation has four active rate cases across Oregon, Texas and Arizona. In Arizona, the company is pursuing formula rates for Foothills to better align recovery with ongoing infrastructure investment. Management also said it continues consolidation efforts in multiple jurisdictions. The company said its MX3 gas-storage expansion project remains on schedule despite an appeal of its recently approved conditional-use permit. The Columbia County Board of Commissioners unanimously approved the permit, but an appeal has been filed with the Land Use Board of Appeals. MX3 is a $300 million, federally regulated storage expansion that is expected to add four to five billion cubic feet of capacity. The project is fully contracted under 25-year agreements and is structured with a 12.5% return on equity and a 50% equity capital structure, according to the company. Management continues to expect a notice to proceed by the end of 2027 and an in-service date in 2029. Once notice to proceed is received, Northwest Natural expects MX3 to support an increase in its long-term earnings-growth target to 5% to 7%, from its current 4% to 6% target through 2030. The company reaffirmed planned 2026 capital expenditures of approximately $500 million to $550 million. It expects to fund investments through operating cash flow, about $150 million of net long-term debt issuance and roughly $40 million to $50 million of equity issued through its at-the-market program. In June, Northwest Natural completed its inaugural $75 million water bond issuance after its water debt received an investment-grade A- rating. The company ended the quarter with approximately $628 million of available liquidity. Kaszuba said SiEnergy and the water business are still expected to contribute approximately 25% of total company EPS in 2026. He added that Northwest Natural expects its gas-utility operations and maintenance expense to come in below its original plan, while stronger second-half results are expected to benefit from new Washington rates and the planned Oregon alternative rate mechanism implementation. Northwest Natural Gas (NYSE: NWN), commonly known as NW Natural, is a publicly traded energy utility primarily engaged in the distribution of natural gas to residential, commercial and industrial customers. Headquartered in Portland, Oregon, the company operates an extensive pipeline network spanning thousands of miles across Oregon and southwest Washington. Its core business activities include gas procurement, system operation and maintenance, safety inspections and customer service support. Dating back to the mid-19th century, Northwest Natural traces its origins to the Portland Gas Light Company, which first illuminated Portland streets with manufactured gas in 1859. This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected]. The article "Northwest Natural Gas Q2 Earnings Call Highlights" was originally published by MarketBeat. View MarketBeat's top stocks for August 2026.

Our analysts just identified a stock with the potential to be the next Nvidia. Tell us how you invest and we'll show you why it's our #1 pick. Tap here. Management is targeting the top half of the existing 2026 EPS guidance range of $2.95 to $3.15 per share., citing strong year-to-date performance and improved visibility into second-half regulatory outcomes. SiEnergy achieved organic customer growth of over 15%, supported by a backlog of 260,000 future meters in high-growth Texas regions. The Oregon gas utility segment is transitioning toward a multiyear rate plan framework, which management believes balances customer affordability with the capital needed for system safety. Washington operations saw a favorable rate case outcome, securing over 80% of the requested revenue requirement and preserving line extension allowances for new customers. Water utility results were modestly below plan due to higher integration and centralization costs, though management views these as necessary investments to scale the platform. Operational excellence and disciplined cost management across all segments helped offset higher depreciation and financing costs associated with infrastructure investments. Management expects SiEnergy to maintain annual customer growth of 15% to 20% through 2030, driven by infrastructure investment in fast-growing markets. The long-term earnings growth target is set to increase from 4%-6% to 5%-7% once the MX3 storage project receives a formal Notice to Proceed. A first multiyear general rate case filing in Oregon is targeted for 2028, with new rates expected to become effective in 2029. Capital expenditures for 2026 are projected between $500 million and $550 million, funded by a mix of operating cash flow, debt, and ATM equity issuance. Dividend increases are expected to align with earnings growth as the payout ratio moves toward the target range of 55% to 65%. One stock. Nvidia-level potential. 30M+ investors trust Moby to find it first. Get the pick. Tap here. The $300 million MX3 storage expansion project received a unanimous conditional use permit, though an appeal has been filed with the Land Use Board of Appeals. Management noted that the MX3 project timeline already accounts for potential legal appeals, maintaining a 2027 Notice to Proceed target. The company completed its inaugural $75 million Water bond issuance, securing an investment-grade A- rating to support the platform's financial foundation. Regulatory risk is being managed through four active rate case proceedings across three states and the implementation of the GRIP mechanism in Texas.

Image source: The Motley Fool. Wednesday, Aug. 5, 2026 at 11 a.m. ET Director of Investor Relations - Nikki Sparley President and Chief Executive Officer - Justin Palfreyman Senior Vice President and Chief Financial Officer - Raymond Kaszuba Operator: Hello, everyone. Thank you for joining us, and welcome to the Northwest Natural Holding Company Q2 2026 Earnings Call. [Operator Instructions] I will now hand the conference over to Nikki Sparley, Director of Investor Relations. Nikki Sparley: Thank you. Good morning, and welcome to our second quarter 2026 earnings call. In addition to the press release, a supplemental presentation is available on our Investor Relations website at ir.nwnaturalholdings.com. And following this call, a recording will also be available on our website. As a reminder, some things that will be said this morning contain forward-looking statements. They are based on management's assumptions, which may or may not occur. For a complete list of cautionary statements, refer to the language at the end of our press release. Additionally, our risk factors are provided in our 10-Q and 10-K filings. We also refer to certain non-GAAP financial measures. For additional disclosures around these non-GAAP measures, including reconciliations to comparable GAAP measures, please see the slides that accompany today's call, which are available on the Investor Relations page of our website. Please note, our guidance assumes continued customer growth, average weather conditions, and no significant changes in prevailing regulatory policies, mechanisms or assumed outcomes or significant changes in local, state or federal laws, legislation or regulations. We expect to file our 10-Q later today. With us today are Justin Palfreyman, President and Chief Executive Officer; and Ray Kaszuba, Senior Vice President and Chief Financial Officer. Justin will provide highlights from the second quarter 2026, a regulatory update and a look forward. Ray will walk through our financial results and guidance. After Justin and Ray's prepared remarks, we will host a question-and-answer session. With that, I will turn the call over to Justin. Justin Palfreyman: Thanks, Nikki. Good morning, everyone. The second quarter represented another solid quarter of performance for Northwest Natural Holdings, adding to our growing track record of consistent earnings results. Earnings per share for both the quarter and year-to-date surpassed our expectations, reflecting disciplined execution across the company. Our teams are demonstrating operational excellence and delivering healthy financial results while continuing to advance key regulatory initiatives and growth projects that lay the groundwork for continued success for years to come. I'm pleased to announce that we now expect 2026 EPS to be in the top half of our guidance range of $2.95 to $3.15 per share. This is driven by our strong year-to-date performance and improved visibility into the second half of the year as we have clarity regarding our key regulatory initiatives and continue to manage costs effectively. With that, let's review our business segments and key regulatory and project updates. Starting in Texas. SiEnergy had another outstanding quarter, highlighted by organic customer growth of over 15%. We currently have over 260,000 future meters in our backlog, which we expect to fuel growth for many years to come. On the regulatory front, SiEnergy continues to make progress on its ongoing rate case. As a reminder, we filed with the Texas Railroad Commission on May 4. This case reflects the necessary investments we have made to continue serving one of the fastest-growing regions in the country. We continue to constructively work through the rate case, including the factors needed to implement the GRIP mechanism and expect new rates to take effect later this year. Looking ahead, we remain very optimistic about the growth opportunities in Texas. We continue to expect customer growth of approximately 15% to 20% annually through 2030. Through disciplined infrastructure investment and strong stakeholder partnerships, we are well positioned to support growth and create long-term value for customers and shareholders. Turning to Northwest Natural Gas. In Oregon, we continue to make steady progress on several important regulatory initiatives. First, we filed a multiparty settlement in our alternative rate mechanism docket with the Public Utility Commission of Oregon. The settlement provides for a $13 million revenue requirement compared to the original ask of $15.6 million. A commission order is expected later this year with new rates expected to be effective on October 31, 2026. We are also actively engaged in Oregon's ongoing multiyear rate plan rule-making process. Phase 1 of that docket has been completed and focuses on the high-level development of key concepts, including 5-year rate plans, a revenue indexing mechanism during the rate plan and a capital funding mechanism. We have consistently advocated for multiyear ratemaking because we believe it provides the most effective balance between customer affordability and the critical investments needed to maintain a safe system and support growth. We are encouraged by the critical investments needed to maintain a safe system and support growth. We are encouraged by the progress being made in this docket. We continue to see pathways to implement the Phase 1 framework in a manner that balances the interest of customers, regulators, and our investors. Phase 2 is now underway and is expected to more fully outline the details of the constructs laid out in Phase 1. The overall process is expected to conclude before the end of 2027. The current schedule has Northwest Natural filing its first multiyear general rate case under the new rules in 2028, with rates becoming effective in 2029. In the interim years, we have several options to ensure timely recovery of our investments, including traditional rate cases. Turning to Washington. We received the commission's order in our multiyear rate case and are pleased with the outcome. We received over 80% of our requested revenue requirement increase, a capital structure of 50% equity and 50% long-term debt, and a return on equity of 9.5%. The order also preserves the line extension allowance for prospective customers, recognizing the important role of natural gas in the energy system and in supporting customer affordability. New rates were effective on August 1. Overall, I'm very pleased with the progress we've made on the regulatory front at Northwest Natural. We continue to support growth and provide safe, reliable service to our communities. Through the first half of 2026, Northwest Natural invested more than $165 million in infrastructure to support customer growth, enhance system reliability, and maintain a modern, resilient natural gas network. Moving to an update on Northwest Natural Water. The business continues to grow and mature. Overall customer growth was 3.4% for the 12 months ended June 30, 2026. While the financial results for the first half of 2026 were modestly below plan, the peak volume months of the year still lie ahead. Across the Water business, we continue to make solid regulatory and strategic progress to support growth over the long term. We currently have 4 active rate case proceedings across Oregon, Texas, and Arizona, all of which are progressing as expected. In Arizona, we continue advancing formula rates for Foothills, aiming to align recovery with ongoing infrastructure investment. We also continue to progress our consolidation efforts in multiple jurisdictions, consistent with our long-term strategy of creating a scaled, efficient water utility platform that benefits both customers and shareholders. We remain confident in the long-term growth prospects of Northwest Natural Water and the value we're creating. Finally, let me provide a brief update on the MX3 storage expansion project as we continue to make solid progress there as well. As a reminder, MX3 is a $300 million FERC-regulated gas storage expansion project that will add 4 to 5 Bcf of capacity and is fully contracted with 25-year agreements, 12.5% return on equity and 50% equity capital structure. We recently received our conditional use permit in Columbia County. Importantly, the County Board of Commissioners unanimously approved the permit, reflecting the strength of the project, its economic benefits to the region, and broad support from the community. As expected, an appeal has been filed with the Land Use Board of Appeals. Our time line already contemplated the potential for additional process and therefore, remains unchanged. We continue to expect Notice to Proceed by the end of 2027, with the project advancing as planned. MX3 remains an attractive opportunity to enhance regional energy reliability and, upon receiving Notice to Proceed, supports increasing our long-term earnings growth target to 5% to 7%. In conclusion, I am happy to report that all of our businesses are in a strong financial position and poised for future growth. With that, I'll turn the call over to Ray to review our financials. Raymond Kaszuba: Thank you, Justin, and good morning, everyone. The second quarter reflected strong operational and financial execution across the company. Earnings per share was $0.01, flat to the prior year period, but above our expectations. As a reminder, our gas utility earnings are seasonal, with the majority of revenues and earnings generated in the first and fourth quarters during the winter heating months. Our water utility revenues and earnings are weighted towards the third quarter, when customer demand is highest during the summer months. Northwest Natural Gas reported EPS of $0.09 compared to $0.12 in the prior year period. Higher margin from rates in Oregon was offset by increased operations and maintenance expense and continued investment in the system, resulting in higher depreciation expense and financing costs. Looking ahead, we expect stronger performance in the back half of the year as compared to last year, driven in part by the implementation of new rates in Washington and the benefit of the alternative rate mechanism in Oregon beginning October 31. SiEnergy reported earnings of $0.05 per share compared to $0.03 in the second quarter of 2025. Results were primarily driven by customer growth of over 15% and the benefit of deferring depreciation, interest, and general taxes. SiEnergy also benefited from a full quarter of earnings contribution from Pines, which was acquired on June 2, 2025. Northwest Natural Water's EPS was $0.05 for the second quarter of 2026 compared to $0.07 in the prior period. Higher operating revenues from organic growth and acquisition were offset by higher O&M as we support platform integration and centralization. Importantly, these initiatives are consistent with our long-term strategy to scale our Water business and position the platform for numerous opportunities that we expect to translate into sustained long-term growth. Turning to year-to-date results. EPS was $2.33 for 2026 compared to adjusted EPS of $2.28 in 2025. The year-to-date increase in EPS reflected higher margin from new rates for our gas utility in Oregon and higher contributions from SiEnergy. These items are partially offset by higher O&M costs, depreciation, and interest expense. Overall, we are very pleased with the strong start to the year and believe EPS for the full year will be in the top half of our guidance range of $2.95 to $3.15 per share. At Northwest Natural, new Washington rates have been implemented and parties have filed a settlement for the ARM. We also expect Northwest Natural's O&M to be below original plan, reflecting disciplined execution and a continued focus on cost management. At SiEnergy, we expect the favorable results from the first half of 2026 will continue, and we are making constructive progress with the general rate case. As it relates to SiEnergy and Water, we still expect these 2 businesses to contribute approximately 25% of our EPS this year. Today, we are also reaffirming our long-term earnings growth target, which remains 4% to 6% through 2030. Following Notice to Proceed on MX3, we expect our long-term earnings growth framework to increase to 5% to 7%, reflecting the substantial earnings and cash flow opportunity associated with that project. We continue to expect Notice to Proceed by the end of 2027, with an in-service date in 2029. Turning to capital allocation. Our 2026 capital expenditure plan remains in the range of approximately $500 million to $550 million and continues to support investment opportunities across all 3 utility platforms. We expect these investments to be funded through a combination of strong operating cash flow, approximately $150 million of net long-term debt issuance, and roughly $40 million to $50 million of equity issued through our ATM program. In June, we successfully completed our inaugural $75 million Water bond issuance after receiving an investment-grade A- rating for our Water debt, further reflecting the platform's maturity and strong financial foundation. Over the 5-year planning horizon, capital expenditures for the full company will be funded largely through operating cash flows, along with a balanced mix of long-term debt and equity. We have approximately $628 million of available liquidity as of quarter end. We continue to maintain strong liquidity and financial flexibility. We currently expect our equity needs through 2030 to be met through disciplined use of our ATM program. Finally, on shareholder returns, as our dividend payout ratio comes in line with our 55% to 65% target, we continue to expect to increase our dividend over time, consistent with earnings growth and cash flow generation. To conclude, we're very encouraged by the momentum we see across the company. The first half of the year was strong. Our regulatory strategy continues to advance, and we're confident in our ability to deliver on our objectives in the back half of 2026 and beyond. With that, we'll open the call to questions. Operator: [Operator Instructions] Your first question comes from the line of Constantine Lednev with Wells Fargo. Justin Palfreyman: So, Constantine, we can't hear you on the line here. I understand there have been some technical difficulties. We will make sure that Nikki and the team connect with you after the call and get your questions answered. I see we have no other questions in the queue. So I want to thank you all for joining us this morning. We appreciate your interest in Northwest Natural Holdings. We're pleased with our first half of 2026 performance and are targeting the top half of our 2026 EPS guidance range for the year. This reflects the confidence we have in the rest of the year and our ability to execute on our growth strategy. As always, please don't hesitate to reach out to Nikki with any further questions. Thank you. Operator: This concludes today's call. Thank you for attending. You may now disconnect. 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This article is a transcript of this conference call produced for The Motley Fool. While we strive for our Foolish Best, there may be errors, omissions, or inaccuracies in this transcript. As with all our articles, The Motley Fool does not assume any responsibility for your use of this content, and we strongly encourage you to do your own research, including listening to the call yourself and reading the company's SEC filings. Please see our Terms and Conditions for additional details, including our Obligatory Capitalized Disclaimers of Liability. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. Northwest Natural (NWN) Q2 2026 Earnings Call Transcript was originally published by The Motley Fool

PORTLAND, Ore., August 05, 2026--(BUSINESS WIRE)--Northwest Natural Holding Company (NYSE: NWN) (NW Natural Holdings or the Company) reported financial results and highlights including: Second Quarter and Year-to-Date 2026 Highlights Reported earnings per share (EPS) of $0.01 for the second quarter of 2026, compared to a net loss per share of $0.06 and adjusted EPS1 of $0.01 for the same period in 2025 Achieved EPS of $2.33 for the first six months of 2026, compared to EPS of $2.11 and adjusted EPS1 of $2.28 for the same period in 2025 Added nearly 18,000 gas and water utility connections over the 12 months ended June 30, 2026 for a growth rate of 1.9% Invested $235 million in the first six months of 2026 in our gas and water systems to support greater reliability and resiliency Received order in NW Natural's Washington general rate case providing a revenue requirement increase of $20.1 million over current rates beginning Aug. 1, 2026 with additional increases in the following two years Filed a multi-party settlement in the NW Natural Oregon alternative rate mechanism (ARM) docket Expect Full Year EPS to be in the Upper Half of 2026 Guidance Range with Long-term Growth Targets Reaffirmed 2026 EPS is expected to be in the upper half of the guidance range of $2.95 – $3.15 Expect rate base growth of 6% – 8% through 2030 driven by planned capital expenditures of $2.6 – $2.9 billion from 2026 – 2030 Long-term EPS growth rate target of 4% – 6%2 and potential to increase to 5% – 7%2 with MX3 gas storage project "Our results exceeded our expectations and reflect strong execution across the business," said Justin Palfreyman, President and Chief Executive Officer. "Our consistent performance and strong first-half results, combined with increased visibility into the balance of the year, support our expectation that 2026 EPS will be in the upper half of our guidance range. The strength of our strategy positions NW Natural Holdings to continue to deliver safe, reliable, and affordable service while creating long-term value for customers and shareholders." SECOND QUARTER AND YEAR-TO-DATE RESULTS NW Natural Holdings' second quarter and year-to-date results are summarized below: KEY EVENTS Washington Commission Approved New Rates for NW Natural On July 29, 2026, the Washington Utilities and Transportation Commission (WUTC) issued an order approving the multi-party settlement in Northwest Natural Gas Company's (NW Natural) multi-year general rate case. The order increased the annual revenue requirement over three years, consisting of a $20.1 million revenue increase in the first year beginning Aug. 1, 2026, a $7.5 million revenue increase in the second year, and a $7.4 million revenue increase in the third year. The order included a capital structure of 50% common equity and 50% long-term debt, a return on equity of 9.5%, and an overall cost of capital of 7.15% beginning in the first year and growing to 7.22% in the third year. Rate base is $328.0 million in the first year, or an increase of $80.7 million since the last rate case. New rates were effective Aug. 1, 2026. Alternative Rate Mechanism Multi-Party Settlement Filed in Oregon On June 29, 2026, NW Natural filed a multi-party settlement with the Public Utility Commission of Oregon (OPUC) that addresses all aspects of the revenue requirement items in the alternative rate mechanism (ARM). The settlement provides an increase to the annual revenue requirement of $13.0 million, compared to the original request of $15.6 million. A Commission order is expected later this year with new rates expected to be effective on Oct. 31, 2026. 2026 GUIDANCE AND LONG-TERM TARGETS We now expect 2026 EPS in the upper half of our guidance range and are reaffirming our long-term targets. This guidance assumes continued customer growth, average weather conditions, and no significant changes in prevailing regulatory policies, mechanisms, or assumed outcomes, or significant local, state or federal laws, legislation or regulations. Required funds for the capital expenditures are expected to be internally generated or financed with long-term debt or equity, as appropriate. SECOND QUARTER RESULTS NW Natural Holdings' second quarter results are summarized by business segment in the table below. Previously, the NWN Gas Utility segment excluded certain gas storage and business activities for NW Natural, which were included in the Other segment. As of the first quarter of 2026, these activities are included along with the NWN Gas Utility activities and presented as the NW Natural segment. NW Natural Holdings and NW Natural historical segment reporting has been recast to reflect their current organizational structure. NW Natural net income decreased $1.0 million (or $0.03 per share) as higher margin from new rates in Oregon, which were effective Oct. 31, 2025, were more than offset by increased operations and maintenance (O&M) expense and continued investment in the system resulting in higher depreciation expense and financing costs. SiEnergy net income increased $1.0 million (or $0.02 per share), primarily due to customer growth and the benefit of deferring depreciation and interest costs on investments allowed by Texas House Bill 4384. Results also benefited from a full quarter of earnings contribution from Pines, which was acquired on June 2, 2025. NWN Water net income decreased $0.6 million (or $0.02 per share) as higher operating revenues driven by rate increases and customer growth were more than offset by increased O&M expenses to support the growth of the business including higher payroll and benefits and technology costs. Other net loss decreased $3.6 million (or $0.10 per share), primarily due to lower acquisition and business development expenses compared to the prior year. On an adjusted basis, which excludes transaction and business development costs incurred in the second quarter of 2025, net loss decreased $0.8 million (or $0.03 per share) primarily due to higher net income from NW Natural Renewables. YEAR-TO-DATE RESULTS NW Natural Holdings' year-to-date results are summarized by business segment in the table below: NW Natural net income increased $1.7 million (or decreased $0.05 per share) as higher margin from new rates in Oregon, which were effective Oct. 31, 2025, was partially offset by increased O&M expense and continued investment in the system resulting in higher depreciation expense and financing costs. SiEnergy net income increased $4.6 million (or $0.11 per share) due to customer growth and the benefit of deferring depreciation and interest costs on investments allowed by Texas House Bill 4384. Additionally, the first half of 2026 reflected a full period of both SiEnergy (acquired on Jan. 7, 2025) and Pines (acquired on June 2, 2025) net income, which had a positive effect on year-over-year results. NWN Water net income decreased $0.8 million (or $0.02 per share) mainly reflecting higher O&M expense to support growth and depreciation expense, partially offset by rate increases and customer growth. Other net loss from the Company's other business activities decreased $7.1 million (or $0.18 per share). On an adjusted basis, which excludes transaction and business development costs, including the SiEnergy and Pines transaction costs in the first half 2025, net loss decreased $0.4 million (or $0.01 per share). DIVIDEND DECLARED The board of directors of NW Natural Holdings declared a quarterly dividend of $0.4925 per share on the Company’s common stock. The dividend is payable on Aug. 14, 2026 to shareholders of record on July 31, 2026. The Company's current indicated annual dividend rate is $1.97 per share. Future dividends are subject to the discretion and approval of the board of directors. CONFERENCE CALL AND WEBCAST As previously announced, NW Natural Holdings will host a conference call and webcast today to discuss its second quarter 2026 financial and operating results. The call will also be webcast in a listen-only format for the media and general public and can be accessed at ir.nwnaturalholdings.com. A replay of the conference call will be available on our website as well. ABOUT NW NATURAL HOLDINGS NW Natural Holding Company (NYSE: NWN) is headquartered in Portland, Oregon and has operated for more than 167 years. It owns Northwest Natural Gas Company (NW Natural), the Company's long-standing natural gas utility serving the Pacific Northwest; SiEnergy Operating, LLC (SiEnergy), a fast-growing natural gas utility serving key Texas markets; NW Natural Water Company (NW Natural Water), an expanding water and wastewater utility; and additional business interests. Together, NW Natural Holdings provides essential energy and water services to nearly one million customers across seven states. The Company has a longstanding commitment to safety, environmental stewardship and supporting its employees and communities, and consistently leads the industry in J.D. Power customer satisfaction. Additional information is available at nwnaturalholdings.com. FORWARD-LOOKING STATEMENTS This press release, and other presentations made by NW Natural Holdings from time to time, may contain forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by words such as "anticipates," "assumes," "continues," "could," "should," "intends," "plans," "seeks," "believes," "estimates," "expects," "forecasts," "will" and similar references to future periods. Examples of forward-looking statements include, but are not limited to, statements regarding the following: plans, objectives, assumptions, estimates, expectations, forecasts, outlooks, timing, goals, strategies, commitments, future events, financial positions, financial performance, investments, valuations, timing and amount of capital expenditures, targeted capital structure, risks, risk profile, stability, acquisitions and timing, approval, completion and integration thereof, the likelihood and success associated with any transaction, strategic fit, utility system, technology and infrastructure investments, expected timing of notice to proceed, the initiation of construction, expected in-service date and capital expenditure requirements for MX3, system modernization, reliability and resiliency, global, national and local economies, economic and GDP growth, customer and business growth, continued expansion of service territories, rate base growth, customer backlog, growth opportunities, customer satisfaction ratings, weather, performance and service during weather events, customer rates or rate recovery and the timing and magnitude of potential rate changes and the potential outcome of rate cases, environmental remediation cost recoveries, environmental initiatives, decarbonization and the role of natural gas and the gas delivery system, including decarbonization goals and timelines, energy efficiency measures, use of renewable sources, renewable natural gas purchases, projects, investments and other renewable initiatives, and timing, magnitude and completion thereof, unregulated renewable natural gas strategy and initiatives, hydrogen projects or investments and timing, magnitude, approvals and completion thereof, procurement of renewable natural gas or hydrogen for customers, technology and policy innovations, strategic goals and visions, water, wastewater and water services acquisitions, personnel additions, partnerships, investment strategy, regulatory strategy, and financial effects of water, wastewater and water services acquisitions, expected growth and safety benefits of facility upgrade investments, operating plans of third parties, financial targets, financial results, including estimated income, availability and sources of liquidity, capital markets, financing transactions, expenses, positions, revenues, returns, cost of capital, timing, and earnings, earnings guidance and estimated future growth rates, credit ratings, debt and equity issuances and timing, future dividends, commodity costs and sourcing, asset management activities, regulatory environment, performance, timing, outcome, or effects of regulatory proceedings or mechanisms or approvals, rate case execution, regulatory prudence reviews, anticipated regulatory actions or filings, accounting treatment of future events, economic and political conditions, effects of legislation or changes in laws or regulations, impact of the current U.S. presidential administration and Congress, inflation, geopolitical uncertainty and other statements that are other than statements of historical facts. Forward-looking statements are based on current expectations and assumptions regarding the Company's business, the economy, geopolitical factors, and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict. Actual results may differ materially from those contemplated by the forward-looking statements. You are therefore cautioned against relying on any of these forward-looking statements. They are neither statements of historical fact nor guarantees or assurances of future operational, economic or financial performance. Important factors that could cause actual results to differ materially from those in the forward-looking statements are discussed by reference to the factors described in Part I, Item 1A "Risk Factors", and Part II, Item 7 and Item 7A "Management's Discussion and Analysis of Financial Condition and Results of Operations" and "Quantitative and Qualitative Disclosure about Market Risk" in the most recent Annual Report on Form 10-K and in Part I, Items 2 and 3 "Management's Discussion and Analysis of Financial Condition and Results of Operations" and "Quantitative and Qualitative Disclosures About Market Risk", and Part II, Item 1A, "Risk Factors", in the quarterly reports filed thereafter, which, among others, outline legal, regulatory and legislative risks, financial, macroeconomic and geopolitical risks, growth and strategic risks, operational risks, business continuity and technology risks, environmental risks and risks related to our water and renewables businesses. All forward-looking statements made in this release and all subsequent forward-looking statements, whether written or oral and whether made by or on behalf of NW Natural Holdings or NW Natural, are expressly qualified by these cautionary statements. Any forward-looking statement speaks only as of the date on which such statement is made, and NW Natural Holdings and NW Natural undertake no obligation to publicly update any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by law. New factors emerge from time to time and it is not possible to predict all such factors, nor can it assess the impact of each such factor or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward-looking statements. NON-GAAP FINANCIAL MEASURES Management uses "adjusted net income", "adjusted earnings per share," "adjusted segment net income (loss)," "segment earnings per share" and "adjusted segment earnings per share," each of which are non-GAAP financial measures, when evaluating NW Natural Holdings' overall performance. Management uses non-GAAP measures in making operating decisions because we believe those measures provide meaningful supplemental information regarding our earning potential and performance for management by excluding certain expenses and charges that may not be indicative of our core business operating results and can affect the comparison of period-over-period results. These adjustments may include transaction and business development costs primarily consisting of professional fees including legal, accounting, financial and other professional fees incurred in connection with business combinations and business development activities. In addition to presenting the results of operations and earnings amounts in total, certain financial measures are expressed in cents per share, which are non-GAAP financial measures. All references to EPS are on the basis of diluted shares. Such non-GAAP financial measures are used to analyze our financial performance because we believe they provide useful information to our investors and creditors in evaluating our financial condition and results of operations. Our non-GAAP financial measures should not be considered a substitute for, or superior to, measures calculated in accordance with U.S. GAAP. Moreover, these non-GAAP financial measures have limitations in that they do not reflect all the items associated with the operations of the business as determined in accordance with GAAP. Other companies may calculate similarly titled non-GAAP financial measures differently than how such measures are calculated in this release, limiting the usefulness of those measures for comparative purposes. A reconciliation of each non-GAAP financial measure to the most directly comparable GAAP financial measure is provided in the tables below. View source version on businesswire.com: https://www.businesswire.com/news/home/20260805536560/en/ Contacts Investor Contact: Nikki SparleyPhone: 503-721-2530Email: [email protected] Media Contact: David RoyPhone: 503-610-7157Email: [email protected]

This article first appeared on GuruFocus. Q2 2026 EPS: $0.01, flat compared to the prior year period but above expectations. Year-to-Date 2026 EPS: $2.33, compared to adjusted EPS of $2.28 in 2025. 2026 EPS Guidance: Expected to be in the top half of the guidance range of $2.95 to $3.15 per share. Northwest Natural Gas Q2 EPS: $0.09, compared to $0.12 in the prior year period. Sea Energy Q2 EPS: $0.05, compared to $0.03 in Q2 2025. Northwest Natural Water Q2 EPS: $0.05, compared to $0.07 in the prior period. Sea Energy Customer Growth: Organic customer growth of over 15%. Northwest Natural Water Customer Growth: 3.4% for the 12 months ended June 30, 2026. 2026 Capital Expenditure Plan: Approximately $500 million to $550 million. Long-Term Earnings Growth Target: Reaffirmed at 4% to 6% through 2030, expected to increase to 5% to 7% following notice to proceed on MX-3. Warning! GuruFocus has detected 8 Warning Signs with NWN. Is NWN fairly valued? Test your thesis with our free DCF calculator. Release Date: August 05, 2026 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Northwest Natural Holding Co (NYSE:NWN) raised its 2026 EPS guidance to the top half of the $2.95-$3.15 range, driven by strong year-to-date performance and improved visibility. Sea Energy delivered outstanding results with organic customer growth exceeding 15% and a backlog of over 260,000 future meters, supporting expected 15%-20% annual growth through 2030. The Washington multi-year rate case outcome was favorable, with over 80% of the requested revenue requirement approved, a 9.5% ROE, and a 50% equity capital structure. The MX-3 storage expansion project received unanimous approval for its conditional use permit, with a fully contracted 25-year agreement and a 12.5% ROE, positioning for a 5%-7% long-term earnings growth target. Northwest Natural Holding Co (NYSE:NWN) successfully completed its inaugural $75 million water bond issuance with an A-minus rating, reflecting the water platform's maturity and strong financial foundation. Northwest Natural Gas reported a decline in Q2 EPS to $0.09 from $0.12 in the prior year, due to higher O&M, depreciation, and financing costs. Northwest Natural Water's Q2 EPS fell to $0.05 from $0.07, with financial results modestly below plan due to higher O&M costs from platform integration and centralization. The Oregon alternative rate mechanism settlement reduced the revenue requirement to $13 million from the original $15.6 million ask, potentially limiting near-term earnings upside. The MX-3 project faces an appeal to the Land Use Board of Appeals, which could introduce delays despite the timeline remaining unchanged. The company expects to issue approximately $40-$50 million of equity through its ATM program in 2026, which could dilute existing shareholders. Q: What is the company's updated earnings guidance for 2026, and what factors are driving this change?A: Justin Palfreyman (CEO): We now expect 2026 EPS to be in the top half of our guidance range of $2.95 to $3.15 per share. This is driven by strong year-to-date performance and improved visibility into the second half of the year, as we have clarity on key regulatory initiatives and continue to manage costs effectively. Q: Can you provide an update on the regulatory outcomes in Washington and Oregon for the gas utility?A: Justin Palfreyman (CEO): In Washington, we received a favorable order in our multi-year rate case, receiving over 80% of our requested revenue requirement, a 50% equity capital structure, and a 9.5% return on equity. New rates were effective August 1. In Oregon, we filed a multi-party settlement in our alternative rate mechanism docket, providing for a $13 million revenue requirement, with new rates expected to be effective October 31, 2026. Q: What is the status of the MX-3 storage expansion project, and how does it impact long-term growth?A: Justin Palfreyman (CEO): We received our conditional use permit in Columbia County, which was unanimously approved. Although an appeal has been filed, our timeline remains unchanged. We expect notice to proceed by the end of 2027 with an in-service date in 2029. Upon receiving notice to proceed, we expect our long-term earnings growth target to increase from 4% to 6% to 5% to 7%. Q: How is Sea Energy performing, and what is the outlook for its rate case?A: Justin Palfreyman (CEO): Sea Energy had another outstanding quarter with organic customer growth of over 15%. We have over 260,000 future meters in our backlog. We filed a rate case with the Texas Railroad Commission on May 4th and continue to work constructively through it, expecting new rates to take effect later this year. We continue to expect customer growth of approximately 15% to 20% annually through 2030. Q: Can you elaborate on the progress of the multi-year rate plan rulemaking process in Oregon?A: Justin Palfreyman (CEO): Phase one of the docket is complete, focusing on high-level concepts like five-year rate plans and revenue indexing. Phase two is underway to outline details. The process is expected to conclude before the end of 2027, with our first multi-year general rate case filed in 2028 and rates effective in 2029. In the interim, we have options including traditional rate cases to ensure timely recovery. Q: What were the key drivers of the second quarter financial results across the business segments?A: Ray Kaszuba (CFO): EPS was a penny, flat to the prior year. Northwest Natural Gas reported EPS of $0.09, down from $0.12, due to higher O&M, depreciation, and financing costs. Sea Energy reported $0.05, up from $0.03, driven by customer growth and the benefit of deferring depreciation, interest, and general taxes. Water EPS was $0.05, down from $0.07, due to higher O&M supporting platform integration. Q: How is the water utility business performing, and what is the strategy for its growth?A: Justin Palfreyman (CEO): Customer growth was 3.4% for the 12 months ended June 30, 2026. While first-half financial results were modestly below plan, the peak volume months are ahead. We have four active rate case proceedings across Oregon, Texas, and Arizona, and continue to progress consolidation efforts. We remain confident in the long-term growth prospects of the water business. Q: What is the company's capital expenditure plan and funding strategy for 2026?A: Ray Kaszuba (CFO): Our 2026 capital expenditure plan remains in the range of approximately $500 million to $550 million. We expect to fund these investments through strong operating cash flow, approximately $150 million of net long-term debt issuance, and roughly $40 million to $50 million of equity issued through our ATM program. We have approximately $628 million of available liquidity as of quarter end. Q: Can you provide an update on the company's dividend policy and shareholder returns?A: Ray Kaszuba (CFO): As our dividend payout ratio comes in line with our 55% to 65% target, we continue to expect to increase our dividend over time, consistent with earnings growth and cash flow generation. Q: What is the expected contribution from Sea Energy and Water to total EPS this year?A: Ray Kaszuba (CFO): We still expect Sea Energy and Water to contribute approximately 25% of our EPS this year. We expect favorable results from Sea Energy to continue, and we are making constructive progress with its general rate case. For the complete transcript of the earnings call, please refer to the full earnings call transcript.

Northwest Natural Holding Company (NYSE:NWN) reported second-quarter results that exceeded Wall Street earnings expectations, although quarterly revenue came in below analyst forecasts. The utility company’s shares were little changed following the announcement, edging up 0.06% in after-hours trading. The company posted adjusted earnings of $0.01 per share, outperforming the consensus estimate of a loss of $0.06 per share. Revenue totalled $243.55 million, missing analyst expectations of $271.87 million, but increasing from $236.19 million in the same quarter of 2025. Following its first-half performance, Northwest Natural said it now expects full-year 2026 earnings per share to finish in the upper half of its previously issued guidance range of $2.95 to $3.15. The midpoint of that range, $3.05 per share, is slightly below the Wall Street consensus forecast of $3.06. President and Chief Executive Officer Justin Palfreyman said the company’s performance exceeded internal expectations. “Our results exceeded our expectations and reflect strong execution across the business,” Palfreyman said. “Our consistent performance and strong first-half results, combined with increased visibility into the balance of the year, support our expectation that 2026 EPS will be in the upper half of our guidance range.” During the first six months of 2026, Northwest Natural generated earnings per share of $2.33, compared with $2.11 during the same period last year. The company also added nearly 18,000 new gas and water utility connections over the 12 months ended 30 June 2026, representing customer growth of 1.9%. Northwest Natural received regulatory approval for a Washington rate case that will increase annual revenue requirements by $20.1 million beginning on 1 August 2026, with further increases scheduled over the following two years. In Oregon, the utility also submitted a multi-party settlement related to its alternative rate mechanism, which includes a proposed annual revenue requirement increase of $13.0 million. The company invested $235 million in its gas and water infrastructure during the first half of the year and continues to expect capital expenditures of between $500 million and $550 million for full-year 2026. Northwest Natural also reaffirmed its longer-term financial objectives, including annual rate base growth of 6% to 8% through 2030 and a long-term earnings-per-share growth target of 4% to 6%. Northwest Natural Holding Company stock price

Interested in Northwest Natural Gas Company? Here are five stocks we like better. Q1 2026 results were solid and in line with expectations, with adjusted EPS rising to $2.33 from $2.28 a year earlier. Management reaffirmed full-year 2026 EPS guidance of $2.95 to $3.15 and kept its long-term growth target at 4% to 6%. Regulatory filings are a major focus for 2026, including a Washington rate case settlement proposal and an Oregon alternative rate mechanism aimed at recovering safety and technology investments. SiEnergy also filed a Texas rate case seeking a $12 million revenue increase, with new rates expected in the fourth quarter. Growth in Texas and water operations remains a key driver, with SiEnergy posting 16% organic customer growth and Northwest Natural Water delivering 4.1% overall customer growth. The company also highlighted the MX3 storage project, which could lift long-term EPS growth guidance to 5% to 7% once it advances further. 5 Dividend Kings Stocks to Load Up on Now Northwest Natural Gas (NYSE:NWN) said first-quarter 2026 results were strong and in line with management’s expectations, driven by new rates, customer growth and performance across its regulated utility businesses. President and CEO Justin Palfreyman said the company’s gas utility systems “performed very well over the heating season,” while the broader Northwest Natural Holdings platform benefited from having three regulated utility businesses. He said the company remains focused on “disciplined execution, steady earnings growth, and attractive overall shareholder returns.” → Rocket Lab Just Hit a New All-Time High—Time to Buy or Let It Breathe? It's a Good Time To Buy High-Yield Dogs of the Dividend Kings Senior Vice President and CFO Ray Kaszuba said adjusted earnings per share rose to $2.33 from $2.28 in the prior-year quarter. Adjusted net income increased by $5.7 million. Kaszuba said the EPS increase was driven by new rates, particularly at Northwest Natural, and customer growth, partially offset by higher depreciation expense and financing needs tied to system investments. The company reaffirmed its full-year 2026 earnings guidance of $2.95 to $3.15 per share and maintained its long-term EPS growth target of 4% to 6%. Management said the SiEnergy and water businesses are still expected to contribute approximately 25% of consolidated EPS in 2026. → MercadoLibre Boldly Invests in Growth: Discount Deepens Dividend Kings With the Highest Yield: 6 High Yields in 5 Minutes Palfreyman highlighted several regulatory initiatives intended to reduce regulatory lag and produce a more balanced earnings profile. In Washington, Northwest Natural filed a multi-party settlement in March with the Washington Utilities and Transportation Commission resolving all revenue requirement aspects of its multi-year general rate case. The settlement remains subject to commission approval. The proposed Washington settlement provides for annual revenue requirement increases over three years: $20.1 million in the first year beginning August 1, 2026, $7.7 million in the second year and $8.7 million in the third year. It includes a capital structure of 50% equity and 50% long-term debt and a 9.5% return on equity. → MP Materials Is Quietly Building a Rare Earth Powerhouse In Oregon, Palfreyman said the company remains engaged with staff and other parties on multi-year rate case rulemaking. He said the process could extend into 2027. In the meantime, Northwest Natural filed an alternative rate mechanism to recover certain safety, information technology and large public works investments. That proposal contemplates a 1.5% rate increase beginning October 31, 2026. During the question-and-answer session, Palfreyman said economic conditions in Oregon have been “challenged a bit” for several years, including slower housing starts and other macroeconomic indicators. However, he said customer growth in Oregon remains largely in line with expectations for the year, with growth opportunities tied to the gas storage facility expansion and system safety and reliability investments. SiEnergy, the company’s Texas gas utility, delivered 16% organic customer growth in the quarter. Palfreyman said its backlog exceeded 250,000 future meters at quarter end, highlighting long-term growth potential. Management expects SiEnergy to deliver 15% to 20% annual customer growth through 2030 and to contribute about 10% to 15% of consolidated EPS in 2026. On May 4, SiEnergy filed a general rate case with the Texas Railroad Commission. The filing consolidates SiEnergy and the recently acquired Pines Gas entities, which Palfreyman said simplifies the company’s regulatory structure and operations in Texas. SiEnergy is requesting a $12 million revenue requirement increase based on a 10.75% return on equity, an 8.73% cost of capital and a capital structure of 60% equity and 40% long-term debt. The filing reflects an increase in average rate base of $176.9 million since the prior rate case, bringing total rate base to $343.1 million. Palfreyman said SiEnergy is also requesting the factors necessary to file for the Gas Reliability Infrastructure Program, or GRIP, in future years. In response to an analyst question, he said the current rate case is expected to take approximately six months, with new rates anticipated in the fourth quarter. Northwest Natural Water posted 4.1% overall customer growth in the first quarter and 2.2% organic customer growth. Palfreyman noted that the water business is seasonal, with the highest demand in the third quarter and lower demand in the first quarter. The company completed seven water and wastewater rate cases in 2025 and currently has four open rate cases in Oregon, Texas and Arizona. Palfreyman said Foothills, its largest water and wastewater utility, continues to invest in water storage and treatment to support regional growth. The company also received approval in the first quarter for its second Certificate of Convenience and Necessity expansion in Arizona. In Texas, Palfreyman said Northwest Natural Water has signed agreements with developers representing a backlog of more than 10,000 connections, with about 25% in communities that have started development. He said the company has combined business development efforts in Texas to leverage SiEnergy’s developer and homebuilder relationships, creating opportunities to install gas, water and potentially wastewater systems in the same communities. Asked about acquisitions in the water segment, Palfreyman said the company continues to look for opportunities but has seen the market slow. He said the company does not need acquisitions to grow, citing its expectation for 2% to 3% organic customer growth through 2030. Palfreyman also discussed the MX3 storage project, a $300 million FERC-regulated gas storage expansion expected to add 4 to 5 Bcf of capacity. He said the project is fully contracted under 25-year agreements and continues to progress as expected. The current timeline contemplates receiving notice to proceed by the end of 2027, with an in-service date in 2029. Management said MX3 is not included in the current 4% to 6% long-term EPS growth guidance. Palfreyman said the company expects to include the project in guidance once it receives notice to proceed, which would raise the long-term EPS outlook to 5% to 7%. Kaszuba said the company still expects 2026 capital expenditures of $500 million to $550 million. The funding plan includes operating cash flow, approximately $150 million of net long-term debt and $40 million to $50 million of equity issued through its at-the-market program. He said the company has approximately $590 million of available liquidity. Kaszuba added that over the five-year planning horizon, capital spending is expected to be funded largely through operating cash flows, along with a balanced mix of long-term debt and equity. He said the company expects to meet equity needs through 2030 using its ATM program. Northwest Natural Gas (NYSE: NWN), commonly known as NW Natural, is a publicly traded energy utility primarily engaged in the distribution of natural gas to residential, commercial and industrial customers. Headquartered in Portland, Oregon, the company operates an extensive pipeline network spanning thousands of miles across Oregon and southwest Washington. Its core business activities include gas procurement, system operation and maintenance, safety inspections and customer service support. Dating back to the mid-19th century, Northwest Natural traces its origins to the Portland Gas Light Company, which first illuminated Portland streets with manufactured gas in 1859. This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected]. The article "Northwest Natural Gas Q1 Earnings Call Highlights" was originally published by MarketBeat. View MarketBeat's top stocks for May 2026.

Northwest Natural Holding Company recently reported first-quarter 2026 results, with sales of US$490.4 million versus US$494.28 million a year earlier, while net income rose to US$97.49 million and diluted EPS from continuing operations increased to US$2.33, and management reaffirmed full-year 2026 earnings guidance of US$2.95–US$3.15 per share. Alongside these results, President and CEO Justin Palfreyman bought 1,225 shares on the open market as the company highlighted progress on rate cases and its MX3 gas storage expansion project, which together could influence how investors view the durability of its earnings profile. With management reaffirming 2026 earnings guidance, we'll now examine how this update interacts with Northwest Natural Holding's existing investment narrative. Outshine the giants: these 16 early-stage AI stocks could fund your retirement. To own Northwest Natural Holding, you need to be comfortable with a regulated gas utility that depends heavily on constructive rate decisions and capital recovery to support its earnings profile. The latest quarter, with slightly lower sales but higher earnings and reaffirmed 2026 guidance, supports the near term earnings catalyst around ongoing rate cases, while the biggest risk remains the possibility that regulators become less willing to fully offset rising costs and energy transition pressures. Overall, this update does not materially change that balance. The company’s confirmation of 2026 EPS guidance at US$2.95 to US$3.15 per share is the announcement that most directly ties into this catalyst, because it relies on continued progress in rate proceedings and execution on projects like the MX3 gas storage expansion. Together, these elements underline how central constructive regulatory outcomes are for the investment story, especially as Northwest Natural continues to invest heavily in its gas infrastructure and related platforms. Yet investors should be aware that if regulators prioritize bill relief over cost recovery... Read the full narrative on Northwest Natural Holding (it's free!) Northwest Natural Holding's narrative projects $1.5 billion revenue and $150.8 million earnings by 2029. This requires 6.2% yearly revenue growth and about a $27.9 million earnings increase from $122.9 million today. Uncover how Northwest Natural Holding's forecasts yield a $59.00 fair value, a 18% upside to its current price. Three Simply Wall St Community fair value estimates for Northwest Natural Holding span roughly US$37.86 to US$59, showing how far apart individual views can sit. Set against that, the shared concern about dependence on rate case outcomes and capital recovery helps frame how differently investors can weigh the same regulatory risk and why it can be useful to compare several perspectives before forming a view. Explore 3 other fair value estimates on Northwest Natural Holding - why the stock might be worth 25% less than the current price! Disagree with existing narratives? Extraordinary investment returns rarely come from following the herd, so go with your instincts. A great starting point for your Northwest Natural Holding research is our analysis highlighting 3 key rewards and 2 important warning signs that could impact your investment decision. Our free Northwest Natural Holding research report provides a comprehensive fundamental analysis summarized in a single visual - the Snowflake - making it easy to evaluate Northwest Natural Holding's overall financial health at a glance. These stocks are moving-our analysis flagged them today. Act fast before the price catches up: Invest in the nuclear renaissance through our list of 91 elite nuclear energy infrastructure plays powering the global AI revolution. Find 51 companies with promising cash flow potential yet trading below their fair value. AI is about to change healthcare. These 35 stocks are working on everything from early diagnostics to drug discovery. The best part - they are all under $10b in market cap - there's still time to get in early. This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Companies discussed in this article include NWN. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email [email protected]