Northwest Natural Posts Wider Loss In Q3, Operating Revenues Up 9%; Reaffirms Guidance

(RTTNews) - Northwest Natural Holding Company (NWN) reported that its third quarter net loss widened to $20.7 million or $0.67 per share from a net loss from continuing operations of $18.7 million or $0.61 per share, prior year. The company said its results reflected higher operations and maintenance expenses and higher depreciation and general tax expenses as it continued to invest in gas utility system, partially offset by customer growth and new rates in Oregon for natural gas utility.

On average, eight analysts polled by Thomson Reuters expected the company to report a loss per share of $0.74, for the quarter. Analysts' estimates typically exclude special items.

Operating revenues increased to $101.45 million from $93.28 million, prior year. Analysts on average had estimated $100.93 million in revenue.

The Board of NW Natural declared a quarterly dividend of $0.4825 per share on common stock. The dividend is payable on Nov. 15, 2021 to shareholders of record on Oct. 29, 2021, reflecting an annual indicated dividend rate of $1.93 per share.

NW Natural Holdings reaffirmed 2021 earnings guidance in the range of $2.40 to $2.60 per share. Analysts expect the company to report profit per share of $2.54.