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NorthWestern Energy Group, Inc.

NorthWestern Energy Group, Inc.

NASDAQ•NWE
CEO: Mr. Brian B. Bird
Sector: Utilities
Industry: Diversified Utilities
Listing Date: 2007-12-28
NorthWestern Energy Group, Inc. provides electricity and natural gas to residential, commercial, and various industrial customers. It generates, purchases, transmits, and distributes electricity; and produces, purchases, stores, transmits, and distributes natural gas, as well as owns municipal franchises to provide natural gas service in the communities. The company operates 6,600 miles of electric transmission and 18,674 miles of electric distribution lines with approximately 395 transmission and distribution substations; and 2,235 miles of natural gas transmission and 5,155 miles of natural gas distribution lines with approximately 133 city gate stations in Montana. It also operates 1,310 miles of electric transmission and 2,365 miles of electric distribution lines in South Dakota with approximately 124 transmission and distribution substations; and 55 miles of natural gas transmission and 2,573 miles of natural gas distribution lines in South Dakota and Nebraska. The company provides electricity and/or natural gas to approximately 775,300 customers in Montana, South Dakota, Nebraska, and Yellowstone National Park. NorthWestern Energy Group, Inc. was founded in 1923 and is based in Sioux Falls, South Dakota.
Contact Information
3010 West 69th Street, Sioux Falls, SD, 57108, United States
605-978-2900
www.northwesternenergy.com
Market Cap
$4.22B
P/E (TTM)
19.4
17.6
Dividend Yield
3.8%
52W High
$69.23
52W Low
$50.46
52W Range
97%
Rank40Top 42.0%
4.1
F-Score
Modified Piotroski Analysis
Based on 10-year fundamentals
Average • 4.1 / 9 points
Scoring Range (0-9)
8-9: Excellent Value
6-7: Strong Fundamentals
4-5: Average Quality
0-3: Weak Performance
Data Period: 2016-2025

Financial Dashboard

Q3 2025 Data

Revenue

$386.95M+12.11%
4-Quarter Trend

EPS

$0.62-18.42%
4-Quarter Trend

FCF

-$26.88M-19.00%
4-Quarter Trend

2025 Q3 Earnings Highlights

Key Highlights

Utility Margin Substantial Increase Total Utility Margin 9M 2025 reached $895.9M, showing strong 11.8% increase over prior period results.
Total Revenues Increased Nine-month Total Revenues grew 4.9% to $1.196B, driven by higher retail rates and usage across segments.
Q3 Operational Margin Strength Third quarter Utility Margin increased 16.6% to $300.1M, reflecting favorable rate recovery and volume impacts.
Strong Liquidity Position Net liquidity stood at $262.2M on September 30, 2025, supported by $256.0M revolving credit availability.

Risk Factors

Fixed Merger Ratio Uncertainty Fixed exchange ratio of 0.98 Black Hills shares means NWE shareholder value fluctuates independently of stock prices.
Operating Expenses Rising Nine-month operating expenses (excl. fuel) rose 10.6% to $630.1M, heavily impacted by $7.6M in Q3 merger costs.
Pending Regulatory Final Orders Montana electric rate final order expected Q4 2025; interim rates are subject to refund with interest.
Merger Integration Challenges Failure to successfully combine businesses may delay synergy realization, adversely affecting combined company future results.

Outlook

Black Hills Merger Timeline Merger transaction closing is anticipated in the second half of 2026, pending satisfaction of all closing conditions.
Colstrip Cost Recovery Plan Colstrip acquisition closes January 2026; filed temporary waiver request to offset $18.0M annual operating costs.
Grid Modernization Investment Infrastructure investment focused on smarter grid, automation, and integrating supply resources for reliability and cost balance.
Net Zero Carbon Goal Committed to providing reliable service while pursuing goal to achieve net zero carbon emissions across operations by 2050.

Peer Comparison

Revenue (TTM)

Hawaiian Electric Industries, Inc.HE
$2.77B
-13.2%
Spire Inc.SR
$2.48B
-4.5%
Black Hills CorporationBKH
$2.27B
+7.0%

Gross Margin (Latest Quarter)

NorthWestern Energy Group, Inc.NWE
83.4%
+25.1pp
Avista CorporationAVA
71.5%
+7.5pp
Spire Inc.SR
57.3%
+14.0pp

Key Metrics

Symbol
Market Cap
P/E (TTM)
ROE (TTM)
Debt to Assets
BKH$5.54B18.97.8%42.4%
SR$4.93B18.17.9%45.3%
PAM$4.33B12.210.9%28.8%

Long-Term Trends

Last 4 Quarters
Revenue
Net Income
Operating Cash Flow
4Q Revenue CAGR
1.2%
Moderate Growth
4Q Net Income CAGR
-22.0%
Declining Profitability
Cash Flow Stability
100%
Strong Cash Flow

Research & Insights

Next earnings:Feb 11, 2026
|
EPS:$1.17
|
Revenue:$417.45M
Reports
All Years

  • Form 10-Q - Q3 2025

    Period End: Sep 30, 2025|Filed: Oct 30, 2025|
    Revenue: $386.95M+12.1%
    |
    EPS: $0.62-18.4%
    Miss

  • Form 10-Q - Q2 2025

    Period End: Jun 30, 2025|Filed: Jul 31, 2025|
    Revenue: $342.70M+7.1%
    |
    EPS: $0.35-32.7%
    Miss

  • Form 10-Q - Q1 2025

    Period End: Mar 31, 2025|Filed: Apr 30, 2025|
    Revenue: $466.63M-1.8%
    |
    EPS: $1.25+17.9%
    Meet

  • Form 10-K - FY 2024

    Period End: Dec 31, 2024|Filed: Feb 13, 2025|
    Revenue: $1.51B+6.5%
    |
    EPS: $3.66+13.7%
    Beat

  • Form 10-Q - Q3 2024

    Period End: Sep 30, 2024|Filed: Oct 29, 2024|
    Revenue: $345.16M+7.5%
    |
    EPS: $0.76+55.1%
    Beat

  • Form 10-Q - Q2 2024

    Period End: Jun 30, 2024|Filed: Jul 31, 2024|
    Revenue: $319.93M+10.1%
    |
    EPS: $0.52+62.5%
    Beat

  • Form 10-Q - Q1 2024

    Period End: Mar 31, 2024|Filed: Apr 26, 2024|
    Revenue: $475.30M+4.6%
    |
    EPS: $1.06+1.0%
    Miss

  • Form 10-K - FY 2023

    Period End: Dec 31, 2023|Filed: Feb 15, 2024|
    Revenue: $1.42B-3.8%
    |
    EPS: $3.22-1.8%
    Meet