Northwest Natural Gas (NYSE: NWN) reported Q1 EPS of $1.44, $0.03 better than the analyst estimate of $1.41. Revenue for the quarter came in at $264.71 million versus the consensus estimate of $296.25 million.

• Delivered strong natural gas utility results with 1.6% customer growth over the last twelve months
• Continued constructing North Mist Gas Storage Expansion Project
• Reaffirmed earnings guidance for 2018, which is expected to range from $2.10 to $2.30 per share

2018 EARNINGS GUIDANCE REAFFIRMED

The Company reaffirmed 2018 guidance today in the range of $2.10 to $2.30 per share. This guidance assumes continued customer growth from our utility segment, average weather conditions, and no significant changes in prevailing regulatory policies, mechanisms, or outcomes, or significant laws or regulations.

We continue to expect capital expenditures for 2018 to be in the range of $190 to $220 million to support core gas utility customer growth and safety and reliability, as well as the completion of the North Mist Expansion Project. We expect to finance our capital needs in 2018 using a combination of cash flow from operations and debt. Our total capital investment plan for the five-year period from 2018 to 2022 is approximately $750 to $850 million, with a majority supporting continued customer growth, distribution system maintenance and improvements, technology investments, and utility gas storage facility maintenance.

GUIDANCE:

Northwest Natural Gas sees FY2018 EPS of $2.10-$2.30, versus the consensus of $2.24.

For earnings history and earnings-related data on Northwest Natural Gas (NWN) click here.