| Metric | Value ($ M) | Q2 FY26 | Q3 FY25 |
|---|---|---|---|
| Revenue | 423.76 | 7.9% | 9.5% |
| Total Income | 423.76 | 7.9% | 9.5% |
| Expenditure | 349.14 | 6.3% | 13.8% |
| PBT | 35.42 | 24.5% | 24.7% |
| Net Profit | 30.74 | 23.0% | 19.6% |
| OPM | 17.61% | 1.25pp | 3.14pp |
| NPM | 7.25% | 0.89pp | 2.63pp |
| EPS | 0.50 | 21.9% | 19.4% |
NorthWestern Energy Reports Third Quarter 2026 Financial Results
05 Nov 2026 · 3d ago, 8:36 pm
Summary
NorthWestern Energy reported third quarter 2026 results with Diluted GAAP EPS of $0.50 and Adjusted Diluted Non-GAAP EPS of $0.58, both lower than the prior year. The decrease was primarily attributed to net losses from additional ownership interests in Colstrip Units 3 and 4, depreciation, and interest expense, partially offset by lower supply costs and increased retail volumes. The company affirmed its 2026 earnings guidance and long-term growth rate targets, and announced a quarterly dividend. Management highlighted continued execution on core business and progress on the merger with Black Hills Corporation.
Key Highlights
- 1
NorthWestern Energy reported Third Quarter 2026 Diluted GAAP EPS of $0.50, compared to $0.62 in the prior year period.
- 2
Adjusted Diluted Non-GAAP EPS for Third Quarter 2026 was $0.58, down from $0.79 in the same period of 2025.
- 3
The company affirmed its 2026 earnings guidance range of $3.68 to $3.83 per diluted share.
- 4
NorthWestern Energy affirmed its record $683 million capital plan for 2026 and long-term EPS and rate base growth rate targets of 4% to 6%.
- 5
A quarterly dividend of $0.67 per share was announced, payable on December 1, 2026.
Management Comments
Brian Bird
The third quarter was a busy and productive one for NorthWestern. We continued to execute on our core business and remain focused on delivering long-term value for our customers, communities, and shareholders. Although the costs associated with our incremental ownership in Colstrip have created a temporary earnings headwind, this strategic decision helps ensure reliable energy for our customers and support economic development in Montana. Looking ahead, we are excited about the prospect of completing our merger with Black Hills and beginning the next chapter for our combined company, subject to final, satisfactory approval from the Montana Public Service Commission which is expected to consider the merger prior to November 12, 2026.
Informational and educational content only. Not investment advice.