Northwest Natural Holdings reported a net loss of $2.5 million, or $0.06 per share, for the second quarter of 2025, a slight improvement from a $2.8 million net loss, or $0.07 per share, in Q2 2024. For the first six months of 2025, net income increased significantly by $24.4 million to $85.4 million, or $2.11 per share, compared to $61.0 million, or $1.60 per share, in the prior year. Adjusted net income for the first half rose by $31.1 million to $92.1 million, or $2.28 per share.
These strong year-to-date results were driven by new rates for the Oregon gas utility, substantial contributions from the SiEnergy acquisition, and higher net income from the NWN Water utility due to new rates in Arizona and recent water acquisitions. Earnings contributions from NWN Renewables also supported performance, though these gains were partially offset by increased operations and maintenance costs, depreciation, and interest expense.
The company updated its 2025 GAAP EPS guidance to $2.60 to $2.80, reflecting final transaction costs from the Pines acquisition and business development costs. However, NW Natural Holdings reaffirmed its adjusted EPS guidance of $2.75 to $2.95 and its long-term EPS growth rate target of 4% to 6% compounded annually, demonstrating confidence in its strategic initiatives.
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