NORTHWEST NATURAL GAS CO
For the period ended Sep 30, 2025. Filed Nov 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.
Sep 30, 2025 · Filed Nov 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 September 30, | Nine Months Ended September 30, | |||
|---|---|---|---|---|
| In thousands, except per share data | 2025 | 2024 | 2025 | 2024 |
| Operating revenues | $164,728 | $136,934 | $895,206 | $782,118 |
| Operating expenses: | ||||
| Cost of gas | 39,428 | 38,902 | 276,922 | 287,589 |
| Operations and maintenance | 76,785 | 63,940 | 239,533 | 202,504 |
| Environmental remediation | 1,247 | 1,151 | 9,796 | 9,226 |
| General taxes | 12,066 | 10,886 | 39,913 | 38,207 |
| Revenue taxes | 5,669 | 5,275 | 33,357 | 32,730 |
| Depreciation | 40,510 | 34,552 | 122,545 | 101,412 |
| Other operating expenses | 1,446 | 1,560 | 3,998 | 4,249 |
| Total operating expenses | 177,151 | 156,266 | 726,064 | 675,917 |
| Income (loss) from operations | (12,423) | (19,332) | 169,142 | 106,201 |
| Other income (expense), net | 929 | 930 | (1,747) | (198) |
| Interest expense, net | 30,435 | 19,060 | 90,321 | 58,902 |
| Income (loss) before income taxes | (41,929) | (37,462) | 77,074 | 47,101 |
| Income tax (benefit) expense | (12,039) | (10,295) | 21,548 | 13,232 |
| Net income (loss) | (29,890) | (27,167) | 55,526 | 33,869 |
| Other comprehensive income (loss): | ||||
| Change in employee benefit plan liability, net of taxes of $—and $58 for three months ended and $— and $9 for the nine months ended September 30, 2025 and 2024, respectively | — | (58) | — | (192) |
| Amortization of non-qualified employee benefit plan liability, net of taxes $(1) and $54 for the three months ended and $49 and $155 for the nine months ended September 30, 2025 and 2024, respectively | 200 | 153 | 549 | 432 |
| Unrealized (loss) gain on interest rate swaps, net of taxes $14 and $279 for the three months ended and $62 and $133 for the nine months ended September 30, 2025 and 2024, respectively | (40) | (775) | (171) | (371) |
| Comprehensive income (loss) | $(29,730) | $(27,847) | $55,904 | $33,738 |
| Average common shares outstanding: | ||||
| Basic | 41,184 | 38,394 | 40,640 | 38,356 |
| Diluted | 41,184 | 38,394 | 40,718 | 38,412 |
| Earnings (loss) per share of common stock: | ||||
| Basic | $(0.73) | $(0.71) | $1.37 | $0.88 |
| Diluted | (0.73) | (0.71) | 1.36 | 0.88 |
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