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Northwestern Corp. (NWE)
NASDAQ:NWE
Earnings Data
Report Date
Apr 23, 2026After Close (Confirmed)
Period Ending
2026 (Q1)Consensus EPS Forecast
1.23Last Year’s EPS
1.22Same Quarter Last Year
Based on 5 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
Overall the call presents meaningful strategic progress (merger filing, acquisitions increasing control of Colstrip, updated $3.21B capital plan, submission of a 131 MW South Dakota project, and positive adjusted EPS growth of 5.3%) alongside constructive guidance for 2026. Material near-term headwinds include a $0.38 Montana rate disallowance, weather-driven margin and cash weakness, under-collections in Montana that compressed FFO-to-debt (discussed near ~13%), and timing/regulatory risk around data centers and merger approvals. Management has mitigations in place (tariff waiver, power sale contracts, cash-recovery mechanisms during construction) and reiterated a disciplined, mostly self-funded base capital plan but acknowledged potential equity needs for incremental projects beyond 2026. On balance the strategic gains and guidance/earnings momentum outweigh the listed operational and regulatory headwinds.Company Guidance
Merger with Black Hills Corporation
Announced an all-stock merger of equals with Black Hills; joint regulatory filings in Montana, Nebraska, South Dakota and at FERC; S-4 and joint proxy filed. Management expects closing in 2026 and cites EPS growth expansion from a 4%-6% range to 5%-7%, doubled rate base to ~ $11,000,000,000 and improved scale, diversification, and credit profile.
Acquisitions and Colstrip Ownership Increase
Closed acquisitions that increased Colstrip ownership: added Avista 222 MW (ownership moved from ~15% to ~30%) and then the Puget piece to reach ~55% ownership, giving operational control and enabling Montana resource adequacy; Avista/Puget interests were acquired for zero purchase price, improving affordability for customers.
Strong Adjusted Earnings and Guidance
Reported 2025 GAAP diluted EPS $2.94 and non-GAAP (adjusted) diluted EPS $3.58 (5.3% growth vs. 2024). Initiated 2026 earnings guidance of $3.68 to $3.83 per share (approximately 5% growth at midpoint versus 2025 adjusted EPS). Q4 adjusted EPS was $1.17 versus $1.13 in Q4 2024.
Updated Capital Plan and South Dakota Project
Updated five-year capital plan to $3,210,000,000, a 17% increase over prior plan. Submitted a $300,000,000 (131 MW) South Dakota natural gas project to SPP expedited resource adequacy study and included it in the capital program.
Dividend Increase and Total-Return Proposition
Increased quarterly dividend by 1.5% to $0.67 per share and noted a dividend yield of approximately 4%. Management continues to present an 8%-10% total return outlook from base utility operations (4%–6% EPS growth plus dividend).
Data Center Development Progress
Advanced data center pipeline: signed a third LOI with Fonica for 500+ MW, moved Atlas Power from LOI to a development agreement, progressed Seifi (Sebi) from LOI to development agreement, and advanced at least one partner (Atlas) toward an ESA with expectation of at least one ESA by mid-2026; plan to file large-load tariff in sync with a signed ESA (target by end of Q2 2026).
Near-term Revenue/Cost Mitigation for Colstrip Transfers
Filed a temporary PCAM tariff waiver in Montana (granted temporarily Jan 2026) to recover ~ $18,000,000 incremental annual operating costs from Avista portion; signed contract to sell Puget electricity through late 2027 to largely offset ~ $30,000,000 incremental annual operating costs. Filed FERC cost-based rates for transferred assets in Oct 2025.
NWE Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
NWE Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
Feb 11, 2026 | $68.35 | $68.45 | +0.15% |
Oct 29, 2025 | $59.25 | $59.42 | +0.29% |
Jul 30, 2025 | $51.50 | $52.56 | +2.07% |
Apr 29, 2025 | $57.52 | $56.28 | -2.15% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does Northwestern Corp. (NWE) report earnings?
Northwestern Corp. (NWE) is schdueled to report earning on Apr 23, 2026, After Close (Confirmed).
What is Northwestern Corp. (NWE) earnings time?
Northwestern Corp. (NWE) earnings time is at Apr 23, 2026, After Close (Confirmed).
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is NWE EPS forecast?
NWE EPS forecast for the fiscal quarter 2026 (Q1) is 1.23.