News Column

NorthWestern Energy Reports Second Quarter 2014 Financial Results

August 8, 2014

By a News Reporter-Staff News Editor at Energy Weekly News -- NorthWestern Corporation d/b/a NorthWestern Energy (NYSE: NWE) reported financial results for the quarter ended June 30, 2014. Net income for the period was $7.7 million, or $0.20 per diluted share, as compared with net income of $14.3 million, or $0.37 per diluted share, for the same period in 2013.

"We were pleased to experience a 3% improvement in gross margin over the same period last year, despite the slightly milder weather this past quarter. However, higher operating expenses primarily related to the acquisition of gas production assets and the hydro transaction weighed heavily on the quarter. Additionally, we experienced increased bad debt expense related to increased revenues and delayed customer collections with the implementation of our customer information system," said Bob Rowe, President and Chief Executive Officer. "Our second quarter typically provides the smallest contribution to annual earnings and was in line with our internal expectations. As such we are maintaining our full year guidance of $2.60 - $2.75 as previously announced."

Keywords for this news article include: NorthWestern Corporation.

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Source: Energy Weekly News

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