NW Natural Holdings EPS climbs in Q1 as utility acquisitions drive growth

Northwest Natural Holding Company (NYSE:NWN) delivered a robust start to 2026, reporting increased earnings and a steady expansion of its gas and water utility footprint.

The Portland, Oregon-based utility provider posted earnings per share (EPS) of $2.33 for the first quarter of 2026, an improvement over the $2.18 reported in the same period last year and surpassing the adjusted EPS of $2.28 from Q1 2025.

The company’s growth was underpinned by a significant increase in its customer base.

Over the 12-month period ending March 31, 2026, NW Natural Holdings added more than 26,000 gas and water utility connections, representing a total growth rate of 2.8%.

This expansion was driven by a combination of strategic acquisitions and a healthy organic growth rate of 1.8%, reflecting sustained demand across its service territories.

Investment in infrastructure remained a central focus, with the company deploying $114 million into its gas and water systems during the quarter.

These capital expenditures are part of a broader initiative to enhance system reliability and resiliency as the company navigates evolving regulatory requirements and regional population growth.

Looking ahead, NW Natural Holdings reaffirmed its full-year 2026 EPS guidance of $2.95 to $3.15.