Northwest Natural Gas (NYSE: NWN) reported Q4 EPS of $1.70, $0.21 better than the analyst estimate of $1.49. Revenue for the quarter came in at $260.27 million versus the consensus estimate of $271.6 million.

• Reported net income from continuing operations of $2.30 per share for 2020, compared to $2.19 per share and adjusted earnings1 from continuing operations of $2.41 per share for 2019
• Reported net income from continuing operations of $1.50 per share for the fourth quarter of 2020, compared to $1.26 per share for 2019
• Added nearly 11,600 natural gas meters over the last 12 months equating to a 1.5% growth rate
• Invested $273 million in our utility systems to support growth and greater reliability and resiliency
• Received Oregon general rate case order providing an estimated annual pre-tax earnings benefit of $45.1 million
• Filed a Washington multi-year general rate case to support growth and system investments
• Signed our first renewable natural gas investment under Oregon SB 98 with BioCarbN and Tyson Foods, Inc. (TSN)
• Announced we are partnering with an Oregon electric utility to propose a renewable hydrogen project
• Closed five water and wastewater utility transactions bringing our total connections to over 26,000
• Increased our dividend for the 65th consecutive year to an annual indicated dividend rate of $1.92 per share
• Initiated 2021 earnings guidance in the range of $2.40 to $2.60 per share

"This past year was one of unprecedented challenges and unparalleled accomplishments. We rapidly embraced new health and safety protocols to continue taking care of customers amid COVID-19, made donations to help our communities, and kept our employees safe," said David H. Anderson, president and CEO of NW Natural Holdings. "At the same time, we continued to look ahead and execute on key long-term priorities, like pursuing our vision of decarbonizing our natural gas system. We also continued a disciplined approach to expanding our water utility business. I'm proud of all we accomplished and look forward to executing on growth opportunities in 2021.”

GUIDANCE:

Northwest Natural Gas sees FY2021 EPS of $2.40-$2.60, versus the consensus of $2.54.

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