NorthWestern Corporation Earnings Recaps
Q3 2025
Oct 31, 2025
NorthWestern Energy reported solid Q3 2025 results with adjusted EPS of $0.79, reflecting successful integration of acquisitions and the continued execution of its growth strategy.
Key takeaways
- GAAP EPS of $0.62, down from $0.76 YoY, while adjusted EPS rose from $0.65 to $0.79.
- Affirmed 2025 earnings guidance range of $3.53 to $3.65, bolstered by margin improvements despite higher operating costs.
- Announced all-stock merger with Black Hills Corporation, with regulatory applications already filed for approval.
- Implemented a $300 million natural gas generation project proposal not included in the current CapEx plan.
- Declared a quarterly dividend of $0.66 per share, reinforcing strength in cash flows and commitment to shareholder returns.