NorthWestern Energy reports Q2 adjusted EPS 35c, consensus 52c

Reports Q2 revenue $290.5M, consensus $347.76M. “Second quarter earnings were impacted by unfavorable weather. Absent the weather impact, the quarter was in line with our expectations,” said Brian Bird, President and Chief Executive Officer. “We are executing on our regulatory priorities, including the settlement agreement pending approval from the Montana Public Service. In addition, in mid-June we filed our first electric rate review in South Dakota since 2015 seeking recovery of nearly thirty percent of rate base that is not included in customer rates today. We look forward to working with the South Dakota staff and commission in that filing as well. Rate relief from these two filings will provide a path for meaningful earnings growth which is critically important to attracting the right long-term investors and fairly priced capital, putting the Company in a strong financial position to successfully serve our customers. Completing both of these incredibly comprehensive filings within the last twelve months was a significant undertaking by many of our dedicated and talented employees. We are grateful for their efforts.” Bird concludes, “We remain on track to complete our $510 million capital plan for the year, including the 175 megawatt Yellowstone County Generating Station in Montana. After receiving significant legislative and judicial support on the project, construction has resumed and the station is expected to be available to serve our customers by the end of third quarter 2024.”