Northwest Natural Q1 Profit Declines; Operating Revenues Up 11%

(RTTNews) - Northwest Natural Holding Company, (NWN) reported first quarter net income of $56.24 million compared to $59.52 million, prior year. Earnings per share from continuing operations declined to $1.80 from $1.94. On average, seven analysts polled by Thomson Reuters expected the company to report profit per share of $1.91, for the quarter. Analysts' estimates typically exclude special items.

Operating revenues were $350.30 million, an increase of 11% from prior year. Analysts on average had estimated $323.68 million in revenue.

NW Natural Holdings reaffirmed 2022 earnings guidance in the range of $2.45 to $2.65 per share. NW Natural Holdings reaffirmed its long-term earnings per share growth rate target of 4% to 6% compounded annually from 2022 through 2027.

The board of directors of NW Natural Holdings declared a quarterly dividend of 48.25 cents per share on common stock. The dividend is payable on May 13, 2022 to shareholders of record on April 29, 2022.