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Northwest Natural NWN Q3 2025 earnings

Reported November 5, 2025 · Before market open

Revenue$164.7MMiss by $254.6M
EPS-$0.73Beat by $0.09
Revenue estimate$419.4M
EPS estimate-$0.82

Next report

Nov 4, 2026 (in 2 months)
Revenue estimate$178.2M
EPS estimate-$0.88

Financials

Q3 2025

Income statement

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Revenue$164.7M+20.3%
Operating income-$12.4M+35.7%
Net income-$41.9M-11.9%
EPS (diluted)-$0.73-2.8%

Balance sheet

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Cash & equivalents$35.8M-23.5%
Total debt$2.4B+34.0%
Total equity$1.4B+5.7%
Total assets$5.9B+18.4%

Cash flow

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Operating cash flow-—
CapEx$110.0M+15.4%
Free cash flow-$125.9M-3.4%

Valuation & ratios

Valuation

as of 09/30/25
See full
Market cap$1.84B+17.8%
Enterprise value$4.21B+27.1%
P/E13.1×-1.4×
P/S1.5×+0.1×

Profitability

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Operating margin20.1%+4.1pp
Net margin11.1%+1.6pp
FCF margin-14.7%-1.0pp

Returns & leverage

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Return on equity10%+1.7pp
Debt / equity1.7×+0.4×
Current ratio0.6×-0.1×

Segments

By product

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Natural gas sales$121.2M+13.6%
Water and wastewater revenue$18.6M—
Renewable natural gas sales$6.5M+1,871%
Alternative revenue$6.0M+146%
Gas storage revenue, net$3.9M-13.8%

By segment

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NWN Water Utility$18.6M—
SiEnergy$11.8M—

FAQ

When did Northwest Natural report Q3 2025 earnings?
Northwest Natural (NWN) reported Q3 2025 earnings on November 5, 2025 before market open.
What were Northwest Natural's Q3 2025 revenue and EPS?
Northwest Natural reported revenue of $164.7M and eps of $-0.73 for Q3 2025.
Did Northwest Natural beat estimates in Q3 2025?
Revenue missed the consensus estimate of $419.4M by $254.6M. EPS beat the consensus estimate of $-0.82 by $0.09.
How did Northwest Natural's Q3 2025 results compare year-over-year?
Compared to the same quarter a year prior, revenue grew 20.3% from $136.9M a year earlier and eps declined 2.8% from $-0.71.
Where can I find Northwest Natural's Q3 2025 SEC filings?
You can read the 8-K earnings release (0001733998-25-000174) and the 10-Q periodic report (0001733998-25-000176) directly on SEC EDGAR. The filing index links above go to sec.gov.