NorthWestern Energy Reports Q1 EPS $1.31, Revenue $497.6M; Maintains Guidance
NorthWestern Energy reported Q1 adjusted EPS of $1.31 versus $1.23 expected, and revenue rose 7% to $497.6 million. The company reaffirmed 2026 EPS guidance of $3.68–$3.83, maintained a $683 million capex plan, declared a $0.67 dividend, and advanced its merger with Black Hills Corporation.
1. Q1 Financial Performance
NorthWestern Energy posted adjusted Q1 EPS of $1.31, beating the $1.23 consensus, and GAAP EPS of $1.03 versus $1.25 a year ago, while revenue climbed 7% to $497.6 million from $466.6 million, topping the $484.06 million forecast.
2. Guidance and Capital Expenditure
The company reaffirmed its full-year 2026 diluted EPS guidance range of $3.68 to $3.83, maintained its $683 million capital expenditure plan, and reiterated a long-term growth outlook of 4% to 6% for both EPS and rate base.
3. Regulatory Update
Enactment of Senate Bill 36 in South Dakota clarified wildfire-related liabilities, enhancing risk management for critical energy infrastructure within NorthWestern Energy’s service territories.
4. Merger Progress and Dividend
Shareholders approved the merger with Black Hills Corporation in April, with settlement agreements reached in Montana, Nebraska, and South Dakota and an expected closing in the second half of 2026; the board also declared a $0.67 quarterly dividend payable June 30, 2026.