Northwestern Corp Stock Price, News & Analysis

NorthWestern Energy announces key leadership changes effective February 15, 2021. Brian Bird will become the new president and chief operating officer, overseeing operations including electric and natural gas services. Crystal Lail is appointed chief financial officer, transitioning from chief accounting officer. Jeanne Vold takes on the role of vice president – technology. Board members Stephen Adik and Julia Johnson will retire after the annual shareholder meeting on April 22, 2021, with Dana Dykhouse stepping in as chair. These transitions reflect a commitment to succession planning and continuity.

NorthWestern Corporation, also known as NorthWestern Energy (Nasdaq: NWE), will host a webcast on February 12, 2021, at 3:30 p.m. ET to discuss its financial results for the year ending December 31, 2020. A news release detailing these results will be issued on February 11, 2021, after the market closes. Investors can access the webcast on the company’s website. NorthWestern Energy serves approximately 734,800 customers across Montana, South Dakota, and Nebraska, providing electricity and natural gas services.

NorthWestern Energy has terminated its agreement to purchase 92.5 megawatts of capacity from Colstrip Unit 4 due to regulatory opposition. The Washington Utilities and Transportation Commission criticized the deal for favoring Montana customers over Washington's, reducing the likelihood of approval. This decision poses a challenge for NorthWestern, which faces a peak demand shortfall of approximately 365 megawatts in a shrinking market. NorthWestern has now increased urgency in securing additional capacity, with a request for proposals for 280 megawatts to serve its customers by 2023.

NorthWestern Energy (Nasdaq: NWE) faced a setback as the Montana Public Service Commission imposed a $5.7 million penalty on its Colstrip operations through the Power Costs and Credits Adjustment Mechanism (PCCAM). This decision complicates the company's efforts to acquire additional interest in Colstrip Unit 4 for $0.50, amidst a growing capacity shortage. Additionally, the Commission disallowed $3.8 million in costs related to regulatory changes in the PCCAM. NorthWestern plans to review the Commission's written order for further insights.

NorthWestern Corporation (NWE) reported a net income of $29.5 million ($0.58/share) for Q3 2020, up from $21.7 million ($0.42/share) year-over-year. This increase was driven by a higher gross margin and reduced operational costs, although partially offset by increased depreciation expenses. Revenues rose to $280.6 million from $274.8 million. The company remains impacted by COVID-19, particularly in commercial revenues, but has seen resilience through improved retail customer growth and favorable weather conditions.

NorthWestern Energy (Nasdaq: NWE) will host an investor conference call and webcast on October 22, 2020, at 3:30 p.m. Eastern time to discuss its financial results for the quarter ending September 30, 2020. A news release detailing these results will be issued on October 21, 2020, after market close. The call will be accessible via NorthWestern Energy's website and will remain archived for one year. NorthWestern Energy serves about 734,800 customers in Montana, South Dakota, and Nebraska.

NorthWestern Corporation, known as NorthWestern Energy (NYSE: NWE), will transfer its stock exchange listing from the New York Stock Exchange to the Nasdaq Global Select Market. The transition will occur after trading on September 30, 2020, with shares commencing trading on Nasdaq under the same ticker symbol, NWE, on October 1, 2020. The company serves approximately 734,800 customers across Montana, South Dakota, and Nebraska, emphasizing its commitment to sustainable energy and environmental stewardship.

NorthWestern Corporation (NWE) reported Q2 2020 net income of $21.5 million ($0.43 per diluted share), down from $47.7 million ($0.94 per diluted share) in Q2 2019, primarily due to a tax benefit in 2019 and lower gross margins impacted by COVID-19. Revenues slightly decreased to $269.4 million, while operating expenses reduced by $9.1 million. The company anticipates continued challenges due to the pandemic, yet maintains adequate liquidity of $368.5 million. It continues planning a $400 million capital program and a potential equity issuance, pending further market conditions.

NorthWestern Corporation, operating as NorthWestern Energy (NYSE: NWE), announced an investor conference call scheduled for July 29, 2020, at 3:00 p.m. Eastern Time. This call will review the company's financial results for the quarter ending June 30, 2020. A news release detailing these results will be issued on the evening of July 28, 2020, after NYSE market close. The conference call will be accessible via webcast on the company's website. NorthWestern Energy serves around 734,800 customers across Montana, South Dakota, and Nebraska.