Northwest Natural Holding Company (NWN)NWNNorthwest Natural Holding Company

Income Statement

Revenue, expenses, and profitability analysis

Quarterly Income Statement (USD)

Quarterly Report	TTM	03/31/2026	12/31/2025	09/30/2025	06/30/2025	03/31/2025	12/31/2024	09/30/2024	06/30/2024
Revenue	1.285B	490.403M	394.157M	164.728M	236.194M	494.284M	370.876M	136.934M	211.714M
Cost of Goods Sold	742.271M	235.188M	197.262M	157.970M	151.851M	276.079M	232.560M	108.117M	147.131M
Gross Profit	543.211M	255.215M	196.895M	6.758M	84.343M	218.205M	138.316M	28.817M	64.583M
Gross Profit Margin	52.0%	52.0%	50.0%	4.1%	35.7%	44.1%	37.3%	21.0%	30.5%
Total Operating Expenses	140.265M	35.818M	28.134M	19.181M	57.132M	63.851M	53.375M	48.149M	48.877M
Research & Development	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Selling, General & Administrative	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Income (EBIT)	402.946M	219.397M	168.761M	-12.423M	27.211M	154.354M	84.941M	-19.332M	15.706M
Operating Margin	44.7%	44.7%	42.8%	-7.5%	11.5%	31.2%	22.9%	-14.1%	7.4%
Income Before Tax (EBT)	162.263M	130.028M	77.604M	-41.929M	-3.440M	122.443M	62.841M	-37.462M	-3.599M
Interest Income	—	—	—	—	—	—	—	—	—
Interest Expense	115.468M	33.352M	21.190M	30.435M	30.491M	29.395M	21.190M	19.060M	19.311M
Other Income/Expense	-240.683M	-89.369M	-91.157M	-29.506M	-30.651M	-31.911M	-22.100M	-18.130M	-19.305M
Net Income	122.892M	97.489M	57.793M	-29.890M	-2.500M	87.916M	45.002M	-27.167M	-2.787M
Income Tax Expense	39.371M	32.539M	19.811M	-12.039M	-940K	34.527M	17.839M	-10.295M	-812K
Net Profit Margin	19.9%	19.9%	14.7%	-18.1%	-1.1%	17.8%	12.1%	-19.8%	-1.3%
EBITDA	609.272M	275.987M	222.418M	35.568M	75.299M	200.437M	127.045M	20.303M	54.170M
EBITDA Margin	56.3%	56.3%	56.4%	21.6%	31.9%	40.6%	34.3%	14.8%	25.6%
Depreciation & Amortization	206.326M	56.590M	53.657M	47.991M	48.088M	46.083M	42.104M	39.635M	38.464M
EPS Basic	2.99	2.39	1.39	-0.73	-0.06	2.18	1.12	-0.71	-0.07
EPS Diluted	2.98	2.38	1.39	-0.73	-0.06	2.18	1.12	-0.71	-0.07
Shares Outstanding	40.864M	40.864M	40.864M	41.184M	40.482M	40.244M	40.222M	38.394M	38.260M
Diluted Shares Outstanding	40.953M	40.953M	40.953M	41.184M	40.482M	40.304M	40.222M	38.394M	38.260M

Annual Income Statement (USD)

Annual Report	12/31/2025	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019	12/31/2018
Revenue	1.289B	1.153B	1.197B	1.037B	860.400M	773.679M	746.372M	706.143M
Cost of Goods Sold	779.305M	755.383M	773.603M	696.128M	531.281M	473.175M	463.427M	442.299M
Gross Profit	510.058M	397.611M	423.872M	341.225M	329.119M	300.504M	282.945M	263.844M
Gross Profit Margin	39.6%	34.5%	35.4%	32.9%	38.3%	38.8%	37.9%	37.4%
Total Operating Expenses	105.402M	206.469M	238.931M	173.748M	166.002M	152.153M	139.471M	131.682M
Research & Development	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Selling, General & Administrative	0.00	0.00	2.925M	12.389M	9.938M	9.691M	12.337M	11.127M
Operating Income (EBIT)	404.656M	191.142M	184.941M	167.477M	163.117M	148.351M	143.474M	132.162M
Operating Margin	31.4%	16.6%	15.4%	16.1%	19.0%	19.2%	19.2%	18.7%
Income Before Tax (EBT)	154.678M	109.942M	126.230M	115.433M	106.072M	91.355M	77.953M	91.502M
Interest Income	—	—	—	—	—	—	—	—
Interest Expense	111.511M	80.092M	76.566M	53.247M	44.486M	43.052M	42.685M	37.059M
Other Income/Expense	-249.978M	-81.200M	-58.711M	-52.044M	-57.045M	-56.996M	-65.521M	-40.660M
Net Income	113.319M	78.871M	93.868M	86.303M	78.666M	76.781M	61.735M	64.569M
Income Tax Expense	41.359M	31.071M	32.362M	29.130M	27.406M	21.082M	12.642M	24.191M
Net Profit Margin	8.8%	6.8%	7.8%	8.3%	9.1%	9.9%	8.3%	9.1%
EBITDA	609.024M	349.202M	326.638M	302.162M	276.651M	252.034M	234.970M	245.129M
EBITDA Margin	47.2%	30.3%	27.3%	29.1%	32.2%	32.6%	31.5%	34.7%
Depreciation & Amortization	204.368M	158.060M	141.697M	134.685M	113.534M	103.683M	91.496M	112.967M
EPS Basic	2.77	2.03	2.49	2.54	2.56	2.32	2.07	2.24
EPS Diluted	2.77	2.03	2.59	2.54	2.56	2.32	2.07	2.24
Shares Outstanding	40.864M	38.809M	37.631M	33.934M	30.702M	30.541M	29.786M	28.803M
Diluted Shares Outstanding	40.953M	38.869M	36.265M	33.984M	30.752M	30.599M	29.859M	28.880M

Values are displayed in USD. Negative numbers shown in red.

Values are displayed in USD. Negative numbers are shown in red.

About Northwest Natural Holding Company

Northwest Natural Holding Company (NWN) operates primarily through its subsidiary, Northwest Natural Gas Company, delivering regulated natural gas to a diverse clientele including residential, commercial, industrial, and transportation customers across Oregon and Southwest Washington. Beyond its core distribution business, the company manages the Mist gas storage facility, which holds 5.7 billion cubic feet and is leased to other utilities and third-party energy marketers. It also provides natural gas asset management solutions and maintains an appliance retail outlet. NWN's strategic investments extend to broader gas storage activities, water services, non-regulated renewable natural gas ventures, and other diversified interests. The company currently supplies natural gas to approximately 786,000 meters within its service territories in Oregon and southwest Washington. Additionally, its water operations cater to about 80,000 individuals through roughly 33,000 water and wastewater connections located in the Pacific Northwest and Texas. Founded in 1859, Northwest Natural Holding Company is headquartered in Portland, Oregon.

Portland, OR

1,452 employees

www.nwnaturalholdings.com

Utilities / Regulated Gas

Sector: Utilities
Industry: Regulated Gas
CEO: Justin Palfreyman

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