Northwest Natural Holding Company Raises 2026 EPS Outlook to $3.10-$3.20

Northwest Natural Holding Company raised its 2026 earnings-per-share guidance to $3.10-$3.20 after nine-month earnings grew from a year earlier, while a Texas utility rate settlement remained subject to regulatory approval.

The new range replaces a forecast of $2.95-$3.15, under which the company had expected earnings in the upper half. Northwest Natural Holdings tied the increase to its year-to-date performance, regulatory outcomes and confidence in fourth-quarter execution.

For the nine months ended Sept. 30, net income reached $68.249 million, compared with $55.526 million in the same period of 2025. Earnings per share rose to $1.62 from $1.36.

The third quarter, however, ended with a net loss of $29.840 million, or 71 cents per share. A year earlier, the company recorded a $29.890 million loss, or 73 cents per share. Third-quarter operations and maintenance expenses fell to $74.585 million from $76.785 million.

One regulatory matter involves SiEnergy, the company’s Texas gas utility. A settlement in its rate case would raise the subsidiary’s annual revenue requirement by $8.6 million, below its $12 million request. The terms include a 9.8% return on equity and an 8.0% overall cost of capital. The settlement still needs approval from the Railroad Commission of Texas; if approved, the new rates are expected to begin in November.

President and CEO Justin Palfreyman said the results reflected “disciplined cost management, constructive regulatory outcomes, and continued customer growth.”

Northwest Natural Holdings owns NW Natural, SiEnergy and NW Natural Water. NW Natural is a natural gas utility serving Oregon and southwest Washington. The company’s 2026-2030 earnings-per-share growth target is 4%-6%, or 5%-7% with its MX3 gas storage project.

The 2026 guidance assumes continued customer growth and average weather, with no significant changes to regulatory policies or laws.