NORTHWEST NATURAL GAS CO
For the period ended Jun 30, 2025. Filed Aug 5, 2025.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Jun 30, 2025 · Filed Aug 5, 2025
NWN$52.02+0.5%Stored close · as of Nov 9, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Item 1.
ITEM 1. CONSOLIDATED FINANCIAL STATEMENTS
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (UNAUDITED)
| Three Months Ended June 30, | Six Months Ended June 30, | |||
|---|---|---|---|---|
| In thousands, except per share data | 2025 | 2024 | 2025 | 2024 |
| Operating revenues | $236,194 | $211,714 | $730,478 | $645,184 |
| Operating expenses: | ||||
| Cost of gas | 64,503 | 72,970 | 237,494 | 248,687 |
| Operations and maintenance | 79,065 | 64,950 | 162,748 | 138,564 |
| Environmental remediation | 2,296 | 2,329 | 8,549 | 8,075 |
| General taxes | 12,076 | 11,853 | 27,847 | 27,321 |
| Revenue taxes | 8,283 | 9,211 | 27,688 | 27,455 |
| Depreciation | 41,535 | 33,762 | 82,035 | 66,860 |
| Other operating expenses | 1,225 | 933 | 2,552 | 2,689 |
| Total operating expenses | 208,983 | 196,008 | 548,913 | 519,651 |
| Income from operations | 27,211 | 15,706 | 181,565 | 125,533 |
| Other income (expense), net | (160) | 6 | (2,676) | (1,128) |
| Interest expense, net | 30,491 | 19,311 | 59,886 | 39,842 |
| Income (loss) before income taxes | (3,440) | (3,599) | 119,003 | 84,563 |
| Income tax (benefit) expense | (940) | (812) | 33,587 | 23,527 |
| Net income (loss) | (2,500) | (2,787) | 85,416 | 61,036 |
| Other comprehensive income (loss): | ||||
| Change in employee benefit plan liability, net of taxes of $—and $115 for three months ended and $— and $49 for the six months ended June 30, 2025 and 2024, respectively | — | 115 | — | (134) |
| Amortization of non-qualified employee benefit plan liability, net of taxes $25 and $55 for the three months ended and $50 and $101 for the six months ended June 30, 2025 and 2024, respectively | 174 | 152 | 349 | 279 |
| Unrealized (loss) gain on interest rate swaps, net of taxes $— and $22 for the three months ended and $47 and $146 for the six months ended June 30, 2025 and 2024, respectively | (1) | 58 | (131) | 404 |
| Comprehensive income (loss) | $(2,327) | $(2,462) | $85,634 | $61,585 |
| Average common shares outstanding: | ||||
| Basic | 40,482 | 38,260 | 40,364 | 38,013 |
| Diluted | 40,482 | 38,260 | 40,429 | 38,059 |
| Earnings (loss) per share of common stock: | ||||
| Basic | $(0.06) | $(0.07) | $2.12 | $1.61 |
| Diluted | (0.06) | (0.07) | 2.11 | 1.60 |
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