NorthWestern Energy Group, Inc. reported a consolidated net income of $76.9 million for the first quarter of 2025, an increase from $65.1 million in the same period of 2024. This growth was attributed to higher electric and natural gas retail volumes, increased electric transmission revenues, and favorable rate adjustments. Total revenues for the quarter were $466.6 million, down from $475.3 million year-over-year, primarily due to a decrease in electric revenues, which fell to $335.5 million from $343.2 million, and a slight decline in gas revenues to $131.1 million from $132.1 million.
Operating expenses decreased significantly to $341.9 million from $373.3 million, driven by lower fuel and purchased supply costs, which dropped to $138.2 million from $174.7 million. This reduction in operating expenses contributed to an operating income of $124.7 million, compared to $102.1 million in the prior year. The company’s basic earnings per share rose to $1.25 from $1.06, reflecting the improved profitability.
In terms of strategic developments, NorthWestern Energy is pursuing an acquisition of the Energy West natural gas utility distribution system, which serves approximately 33,000 customers in Montana, for about $39 million. This acquisition is expected to close in the second or third quarter of 2025, pending regulatory approval. Additionally, the company is involved in significant regional transmission development activities, including a $700 million grant from the U.S. Department of Energy for the North Plains Connector project, aimed at enhancing grid reliability and supporting renewable energy integration.
Operationally, NorthWestern Energy serves approximately 809,000 customers across Montana, South Dakota, Nebraska, and Yellowstone National Park. The company reported a slight increase in customer counts, with residential customers growing to 384,129 from 377,768 year-over-year. The company’s cash and cash equivalents increased to $80.1 million as of March 31, 2025, compared to $29.0 million at the end of 2024, indicating improved liquidity. Looking ahead, NorthWestern Energy anticipates continued growth driven by infrastructure investments and regulatory adjustments, while also navigating challenges related to environmental regulations and market conditions.
About NorthWestern Energy Group, Inc.
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