NorthWestern Energy: A Bright Future Ahead

NorthWestern Energy Group, Inc. d/b/a NorthWestern Energy (Nasdaq: NWE) is set to host an investor webinar on Thursday, February 13, 2025, at 3:30 p.m. Eastern to review its financial results for the year ending December 31, 2024. The company will release its detailed financial results on Wednesday, February 12, 2025, evening. NorthWestern Energy provides electricity and natural gas services to approximately 775,300 customers across Montana, South Dakota, Nebraska, and Yellowstone National Park through its subsidiaries NorthWestern and NorthWestern Energy Public Service. The company has maintained operations in South Dakota and Nebraska since 1923 and in Montana since 2002.

NorthWestern Energy's strategic approach to rate reviews and acquisitions has contributed significantly to its growth and stability. The company has consistently invested in high levels of rate review filings across all jurisdictions, even in a rising cost environment. This approach has allowed NorthWestern to earn closer to its authorized rate of return, ensuring the financial stability of the company. In 2024, NorthWestern filed rate reviews in Montana Electric & Gas, South Dakota Natural Gas, and Nebraska Natural Gas within just two months. This is the first time in the 20 years since the merger of Montana Power and NorthWestern Public Service that the company has filed in all jurisdictions in such a short period. This proactive approach to rate reviews has helped NorthWestern maintain its financial health and provide reliable service to its customers.

Moreover, NorthWestern's strategic acquisitions, such as the Yellowstone County Generating Station, have also contributed to its growth. The company's investment in this 175 MW plant, which began serving customers in October 2024, has provided critical capacity as the company goes into the winter season. This acquisition is part of NorthWestern's ongoing efforts to advance its rate reviews and ensure timely recovery of the substantial investments it has made on behalf of its customers.

In addition, NorthWestern's participation in regional transmission projects, such as the North Plains Connector Consortium project, has further enhanced its stability. The company was awarded a $700 million Grid Resilience and Innovation Partnership (GRIP) grant, with $70 million earmarked for the Colstrip transmission system upgrades. NorthWestern's share of this investment is $21 million, which will help improve the reliability and resilience of the company's transmission system.

NorthWestern's financial performance in 2024 has been strong, with GAAP diluted EPS of $1.06 for the quarter ended March 31, 2024, compared to $1.05 in the same period in 2023. Adjusted non-GAAP diluted EPS for the quarter ended March 31, 2024, was $1.09, compared to $1.05 in the same period in 2023. Net income for the quarter ended March 31, 2024, was $65.1 million, compared to $62.5 million in the same period in 2023. The company declared a quarterly common stock dividend of $0.65 per share payable June 28, 2024, to common shareholders of record as of June 14, 2024.

NorthWestern's earnings guidance for 2024 remains unchanged, with diluted earnings guidance of $3.42 - $3.62 per diluted share. The company's long-term (5-year) diluted earnings per share growth guidance of 4% to 6% from a 2022 base year of $3.18 diluted earnings per share on a non-GAAP basis is also unchanged. NorthWestern's capital investment plan of $500 million remains on track, including the in-service of the 175 megawatt Yellowstone County Generating Station in Montana.

NorthWestern Energy's strategic approach to rate reviews and acquisitions, combined with its strong financial performance and earnings guidance, positions the company well for continued growth and stability. The company's commitment to providing safe, reliable, and innovative energy solutions, along with its focus on customer satisfaction and community engagement, sets it apart in the industry. As NorthWestern Energy looks ahead to the future, investors can expect the company to continue to deliver value for customers, communities, employees, and shareholders.