Northwest Natural Holding Co. (NWN), while reporting higher first-quarter results, on Tuesday updated its fiscal 2025 earnings view on a reported basis and reaffirmed adjusted earnings forecast.
In the pre-market hours on the New York Stock Exchange, Northwest Natura stock is losing around 1.2 percent to trade at $43.03
For fiscal 2025, NW Natural now expects earnings of $2.65 to $2.85 per share, compared to the previous range of $2.66 to $2.86, as a result of the expected transaction costs from the Hughes acquisition.
The company continues to expect adjusted earnings per share of $2.75 to $2.95.
The Wall Street analysts on average expect the company to report earnings of $2.87 per share. Analysts' estimates typically exclude special items.
The company also reaffirmed its long-term earnings per share growth rate target of 4 percent to 6 percent from its expected 2025 adjusted earnings per share.
Further, the board of directors declared a quarterly dividend of $0.49 per share. The dividend is payable on May 15 to shareholders of record on April 30. The Company's current indicated annual dividend rate is $1.96 per share.
In its first quarter, Northwest Natural profit increased from last year and beat the Street estimates.
The company's earnings totaled $87.92 million or $2.18 per share, compared with $63.82 million, or $1.69 per share, last year.
Adjusted earnings were $91.80 million or $2.28 per share for the period. Analysts had expected the company to earn $2.01 per share.
The company's revenue for the period rose 14.0 percent to $494.28 million from $433.47 million last year.
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