Northwest Natural Gas (NWN) Reports In-Line Q1 EPS; Reaffirms FY17 Outlook

Northwest Natural Gas (NYSE: NWN) reported Q1 EPS of $1.40, in-line with the analyst estimate of $1.40.

• Increased consolidated net income by $3.7 million to $40.3 million for the first quarter of 2017.
• Increased utility margin by $3.3 million, after-tax, and added 12,000 utility customers during the past 12 months.
• Continued construction on the North Mist Gas Storage Expansion Project, which is on track and on budget.
• Reaffirmed earnings guidance for 2017, which is expected to range from $2.05 to $2.25 per share.

"The first quarter financial results were solid with the utility continuing to grow organically and providing stable returns," said David H. Anderson, President and CEO of NW Natural. "Operationally our distribution system performed very well through some periods of exceptionally cold weather this past winter. I'm proud of all our dedicated employees that provided outstanding customer service and kept the natural gas system running smoothly."

Mr. Anderson continued, "In 2017, we are focused on continuing to operate our system safely and reliably, and effectively positioning our Company for a low-carbon future. The benefits of clean-burning natural gas - its reliability, flexibility, and affordability - make it a vital energy resource to the communities we serve. That is why we are working hard on projects like our North Mist Expansion Project that will enable the integration of more wind power in the grid and our new innovative project with the city of Portland to put Renewable Natural Gas (RNG) from their wastewater treatment plant through NW Natural's pipeline and into vehicles."

For earnings history and earnings-related data on Northwest Natural Gas (NWN) click here.

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