Northwest Natural Holding Company · NYSE:NWN
Northwest Natural — Q1 2026 Earnings Presentation
14 slides from Northwest Natural's earnings presentation, May 6, 2026
Slide 1: Q1 2026 Earnings Call
Q1 2026 EARNINGS CALL May 6, 2026
Slide 2: Forward Looking Statements
Business Updates Financial Updates Guidance Introduction Business Updates Financial Updates Guidance Investor Information Company FORWARD LOOKING STATEMENTS This and other presentations made by NW Natural Holdings from time to time, may contain forward-looking statements within the meaning of the U.
Slide 3: Leadership Presenting Today
Business Updates Financial Updates Guidance Introduction Business Updates Financial Updates Guidance Leadership Presenting Today Business Update • Q1 2026 highlights • Regulatory update • SiEnergy • NW Natural Water Justin B. Palfreyman • NW Natural President & CEO • MX3 gas storage expansion projec
Slide 4: Q1'26 Financial Performance
Business Updates Financial Updates Guidance Introduction Business Updates Financial Updates Guidance Q1’26 Financial Performance Positioned for continued success in 2026 and beyond Q1’26 Financial Results Compared to Q1’25 Financial Results $2.33 985k $114M $589M +2% +3% +11% 1 Capital Available Adj
Slide 5: Strategic Areas of Focus
Business Updates Financial Updates Guidance Introduction Business Updates Financial Updates Guidance Strategic Areas of Focus NWN is well - positioned to deliver on its financial and strategic priorities 2026 Priorities • Conclude Washington rate case with new rates effective Aug. 1, 2026 Pursue Con
Slide 6: Expanding Strategic Gas Storage Facility
Business Updates Financial Updates Guidance Introduction Business Updates Financial Updates Guidance Expanding Strategic Gas Storage Facility Supports Affordable, Reliable Service Mist Expansion (MX3) 4 – 5 Bcf capacity ~$300 million capital expenditures FERC regulated storage services Customers are
Slide 7: Q1'26 Financial Results
Financial Updates Guidance Business Updates Introduction Business Updates Financial Updates Guidance Q1’26 Financial Results Strong adjusted EPS growth in the first quarter Q1'26 vs. Q1'25 Adjusted EPS 1 NWN Water Other NWN Gas SiEnergy Gas ($0.01) $0.00 ($0.02) $0.08 Q1'25 Q1'26 Adjusted EPS EPS $2
Slide 8: Financial Outlook Reaffirmed
Business Updates Financial Updates Guidance Introduction Business Updates Financial Updates Guidance Financial Outlook Reaffirmed 2026 and Long - term Guidance 1 2025 Actuals 2026 Guidance Long - term Guidance Earnings Per Share $2.93 2 $2.95 – $3.15 Annual Growth Rate: 4% – 6%3 2025 – 2030E $2.6 –
Slide 9: Maintaining our Strong Balance Sheet
Business Updates Financial Updates Guidance Introduction Business Updates Financial Updates Guidance Maintaining our Strong Balance Sheet • Driven by strong execution at each of our three utility businesses Cash from Operations • Constructive regulation, consistent rate case cadence, and recovery me
Slide 10: Appendix
APPENDIX
Slide 11: Additional Guidance
Additional Guidance • Net income CAGR of 1% – 3% from 2025 net income of $124 million through 2030 ✓ Projected net income CAGR of 4% – 6% including MX3, which is not currently in guidance NW Natural 1 • 2026 capital expenditures are expected to be $340 – $370 million • 2026 – 2030 capital expenditur
Slide 12: Non-GAAP Financial Measures & Guidance Reconciliation
Non - GAAP Financial Measures & Guidance Reconciliation Management uses "adjusted net income", "adjusted earnings per share," "adjusted segment net loss," "segment earnings per shar e” and "adjusted segment earnings per share," each of which are non - GAAP financial measures, when evaluating NW Natu
Slide 13: Non-GAAP Adjusted EPS Reconciliation
Non - GAAP Adjusted EPS Reconciliation Three Months Ended March 31, 2026 2025 Consolidated GAAP net income per share $2.33 $2.18 Transaction costs — 0.13 Income tax effect 1 — (0.03) Adjusted net income per share $2.33 $2.28 Other GAAP net income (loss) per share ($0.16) $(0.26) Transaction costs —
Slide 14: Non-GAAP Segment EPS Reconciliation
Non - GAAP Segment EPS Reconciliation Three Months Ended March 31, 2026 2025 Change Adjusted net income (loss) per share: NWN Natural $2.24 $2.26 $(0.02) SiEnergy 0.22 0.14 0.08 NWN Water 0.03 0.04 (0.01) Other (0.16) (0.16) 0.00 Consolidated $2.33 $2.28 $0.05 14
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