NorthWestern Energy Reports Third Quarter 2026 Financial Results
Q3 GAAP EPS $0.50 vs $0.62 y/y, adjusted $0.58 vs $0.79; 2026 EPS guidance $3.68-$3.83 affirmed, $0.67 dividend declared.
What this release says
NorthWestern's third-quarter GAAP earnings fell to $0.50 per diluted share from $0.62, and adjusted earnings fell to $0.58 from $0.79, mainly due to a $6.1 million net loss tied to its added Colstrip ownership, plus higher depreciation and interest. The company reaffirmed its 2026 guidance and its $0.67 quarterly dividend, but that dividend's record and payment dates were moved because of the pending merger with Black Hills. For a shareholder, the outlook depends on whether the merger completes, which the company says is expected before November 12, 2026, subject to Montana approval.
Key figures
- Q3 2026 GAAP diluted EPS
- $0.50
- Q3 2026 adjusted diluted EPS
- $0.58
- 2026 EPS guidance range
- $3.68 to $3.83 per diluted share
- 2026 capital plan
- $683 million
- Quarterly dividend
- $0.67 per share
- Colstrip-related net loss
- $6.1 million
Positive for shareholders
- The company reaffirmed its 2026 EPS guidance and its 4% to 6% long-term growth rate.
- Lower non-recoverable Montana electric supply costs, retail volumes, and merger-related costs helped offset some of the decline.
- The $0.67 quarterly dividend is maintained, payable December 1, 2026.
Negative for shareholders
- Net income fell to $30.7 million from $38.2 million a year earlier.
- Costs from the added Colstrip ownership created a temporary earnings headwind.
- Depreciation and interest expense also weighed on results.
- The dividend record and payment dates were moved because of the pending merger.
Written by Quantisnow AI from this release. Not financial advice.
Key terms
- Colstrip:
- A coal-fired power plant in Montana, in which NorthWestern holds an ownership interest in Units 3 and 4.
- Non-GAAP earnings:
- Profit figures adjusted by the company to exclude certain items, shown alongside standard GAAP results.
- Rate base:
- The value of the assets a utility is allowed to earn a return on, set by regulators.
- Hart-Scott-Rodino Act:
- A US antitrust law requiring pre-merger review, with a waiting period before deals can close.
FAQ
Did NorthWestern Energy change its 2026 earnings guidance?
No, the company affirmed its 2026 non-GAAP guidance of $3.68 to $3.83 per diluted share.
When is NorthWestern's next dividend payable?
The $0.67 per share dividend is payable December 1, 2026, to shareholders of record as of November 17, 2026.
What could change NorthWestern's standalone outlook?
If the merger with Black Hills is completed, NorthWestern's standalone guidance and outlook will no longer apply to the combined company.
Historical context for NWE
Across the 13 sessions after earlier NWE headlines, the stock closed higher 7 times and lower 6 times, with a median move of 1.0% in either direction. This shows timing only: many things move a stock in a session, and these figures do not show that any headline caused a move.
| Session | Earlier headline | NWE | SPY |
|---|---|---|---|
| Oct 26, 2026 | NorthWestern upgraded by Wells Fargo with a new price target | +1.1% | +0.7% |
| Oct 15, 2026 | Jefferies initiated coverage on NorthWestern with a new price target | -0.9% | +0.3% |
| Oct 14, 2026 | NorthWestern Energy to Host Third Quarter 2026 Financial Results Webinar | -1.0% | -1.1% |
| Jul 30, 2026 | NorthWestern Energy Reports Second Quarter 2026 Financial Results | -1.2% | +1.7% |
| Jul 2, 2026 | NorthWestern Energy to Host Second Quarter 2026 Financial Results Webinar | -0.2% | -0.1% |
| Apr 30, 2026 | NorthWestern Energy Reports First Quarter 2026 Financial Results | +1.4% | +1.0% |
- Market cap
- 30-day
- Sector
- Utilities
- Industry
- Power Generation
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