Northwest Natural Posts Narrower Quarterly Loss; Confirms 2021 Earnings Guidance

(RTTNews) - Northwest Natural Holding Company, (NWN) on Thursday reported net loss of $724000 or $0.02 per share in the second quarter, narrower than net loss of $4.85 million or $0.16 per share in the same quarter a year ago.

The company said results reflected new rates in Oregon for its natural gas utility, customer growth, and lower financial impacts from COVID-19 pandemic.

Revenue for the quarter increased 10% to $148.92 million from $134.97 million last year.

On average, 7 analysts polled by Thomson Reuters expected the company to report loss of $0.13 per share on revenue of $142.63 million. Analysts' estimates typically exclude special items.

Looking forward, the company has reaffirmed its 2021 earnings guidance in the range of $2.40 to $2.60 per share. The consensus estimate stands at $2.54 per share.