Northwest Natural Gas (NYSE: NWN) reported Q2 EPS of $0.04, $0.07 better than the analyst estimate of ($0.03). Revenue for the quarter came in at $134.97 million versus the consensus estimate of $132.71 million.

• Reported a net loss of $0.17 per share from continuing operations for the second quarter of 2020, compared to net income of $0.07 per share for the same period in 2019 reflecting the financial effects of the coronavirus pandemic (COVID-19) and the reversal of an environmental reserve in 2019
• Earned net income of $1.41 per share from continuing operations for the first six months of 2020, compared to earnings of $1.56 per share and adjusted earnings1 of $1.79 per share for the same period in 2019
• Continued to provide customers with essential natural gas and water utility services and assist our most vulnerable community members during COVID-19
• Provided a record $17.1 million credit to Oregon customers related to a revenue sharing mechanism
• Added more than 13,000 natural gas meters over the last 12 months equating to a 1.7% growth rate
• Completed rulemaking for Senate Bill 98 enabling our gas utility to procure renewable natural gas for customers
• Filed a comprehensive all-party stipulation in Oregon general rate case
• Reaffirmed 2020 GAAP earnings guidance from continuing operations in the range of $2.25 to $2.45 per share and guided toward the lower end of the range given potential effects from COVID-19

GUIDANCE:

Northwest Natural Gas sees FY2020 EPS of $2.25-$2.45, versus the consensus of $2.29.

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