NWE - NorthWestern misses Q2 top and bottom line consensus; on track to achieve capex target for FY23

2023-07-25 00:59:19 ET

• NorthWestern press release ( NASDAQ: NWE ): Q2 Non-GAAP EPS of $0.35 misses by $0.17 .
• Revenue of $290.5M (-10.1% Y/Y) misses by $50.84M .
• Outlook: "NorthWestern expects to issue 2023 earnings guidance following an outcome in the currently pending Montana general rate review. Our estimated capital expenditures for 2023 are $510 million. Over the next five years (2023 to 2027) we estimate investment of $2.4 billion in our electric and natural gas transmission and distribution and electric generation infrastructure."
• Brian Bird, President and Chief Executive Officer said, "We remain on track to complete our $510 million capital plan for the year, including the 175 megawatt Yellowstone County Generating Station in Montana. After receiving significant legislative and judicial support on the project, construction has resumed and the station is expected to be available to serve our customers by the end of third quarter 2024."

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