NorthWestern Corporation d/b/a NorthWestern Energy (NWE) reported first-quarter net income of $22.8 million, lower than last year's $23.5 million. However, earnings per share rose to $0.63 from $0.59 in the prior year, due primarily to the share buy back concluded in the third quarter of 2008.
Total revenues amounted to $370.90 million, compared to $385.97 milion in the same quarter of last year.
Consolidated gross margin was $162.9 million, compared with $156.9 million in the year-ago quarter. The improvement in consolidated gross margin was primarily due to the transfer of stake in Colstrip Unit 4 to Montana utility rate base and represents our return on rate base.
Looking ahead, the company said it still sees earnings per share for 2009 to be in the range of $1.85 - $2.00.
In addition, NorthWestern's board declared a quarterly dividend of 33.5 cents per share, payable on June 30, 2009, to shareholders of record on June 15, 2009.
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May 01, 2026 15:54 ET Central banks dominated the economics news flow this week with almost all major ones announcing their latest policy decisions and many boosted expectations for a rate hike in June. In other news, several countries released the preliminary data for first quarter economic growth. In the U.S., comments by Fed Chair Jerome Powell were also in focus as his term ends this month.