Northwest Natural Holding (NWN) Q4 FY2023 earnings: revenue $356 million, down 5.2% on the year

Northwest Natural Holding Co. (NWN) reported revenue of $356 million for Q4 FY2023, the quarter ended 31 December 2023, down 5.2% on the same quarter a year earlier. Net income was $45 million, down 6.9% on the year, and diluted earnings per share $1.20. The figures are the company's own, from the 10-K it filed with the SEC on 23 February 2024.

Revenue$356 milliondown 5.2%

Net income$45 milliondown 6.9%

Diluted EPS$1.20

QuarterQ4 FY2023ended 31 December 2023

The quarter, against the one before and a year earlier

Line	Q4 FY2023	Q3 FY2023	A year earlier	Change on the year
Revenue	356	141	n/a	n/a
Operating income	75.2	-17.6	n/a	n/a
Operating margin	21.1%	-12.4%	n/a
Income tax	15.3	-8.3	n/a	n/a
Net income	44.6	-23.7	n/a	n/a
Net margin	12.5%	-16.7%	n/a
Diluted EPS	$1.20	-$0.65	n/a	n/a

$ million except per share.

Fourth quarters are the year less the first three quarters. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow and capital returned

Line	Q4 FY2023	Q3 FY2023	A year earlier	Change on the year
Operating cash flow	-21.6	3.6	n/a	n/a
Capital expenditure	84.6	97.9	n/a	n/a
Free cash flow	-106	-94.2	n/a	n/a
Free cash flow margin	-29.8%	-66.6%	n/a
Cash from investing	-85.0	-99.0	n/a	n/a
Cash from financing	-15.3	112	n/a	n/a
Depreciation and amortisation	32.8	30.1	n/a	n/a
Dividends paid	17.2	16.8	n/a	n/a
Dividend per share	n/a	$0.48	n/a	n/a
Diluted shares, weighted	36m	36m	n/a	n/a
Shares outstanding at period end	38m	37m	n/a	n/a

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet at quarter end

Line	Q4 FY2023	Q3 FY2023	A year earlier	Change on the year
Shareholders' equity	1,284	1,220	n/a	n/a
Short-term borrowings	89.8	71.0	n/a	n/a
Debt	1,576	1,615	n/a	n/a
Operating lease liabilities	77.2	77.5	n/a	n/a
Other liabilities	1,840	1,682	n/a	n/a
Total liabilities and equity	4,867	4,665	n/a	n/a
Fixed assets	3,358	3,279	n/a	n/a
Goodwill	163	152	n/a	n/a
Cash and equivalents	32.9	157	n/a	n/a
Other assets	1,313	1,077	n/a	n/a
Total assets	4,867	4,665	n/a	n/a

Questions

What was Northwest Natural Holding's revenue in Q4 FY2023?

Northwest Natural Holding (NWN) reported revenue of $356 million for Q4 FY2023, the quarter ended 31 December 2023, down 5.2% on the same quarter a year earlier.

How much did Northwest Natural Holding earn in Q4 FY2023?

Net income for Q4 FY2023 was $45 million, down 6.9% on the year, and diluted earnings per share $1.20.

When did Northwest Natural Holding report Q4 FY2023 results?

Northwest Natural Holding filed its 10-K for the year that ended with the quarter on 23 February 2024; the fourth quarter is the year less the first three.

Quarterly results, the last 12 quarters

	Q3 FY2023	Q4 FY2023 *	Q1 FY2024	Q2 FY2024	Q3 FY2024	Q4 FY2024 *	Q1 FY2025	Q2 FY2025	Q3 FY2025	Q4 FY2025 *	Q1 FY2026	Q2 FY2026
Revenue	141	356	433	212	137	371	494	236	165	394	490	244
Operating income	-17.6	75.2	110	15.7	-19.3	84.9	154	27.2	-12.4	112	163	33.2
Operating margin	-12%	21%	25%	7%	-14%	23%	31%	12%	-8%	28%	33%	14%
Net income	-23.7	44.6	63.8	-2.8	-27.2	45.0	87.9	-2.5	-29.9	57.8	97.5	0.6
Net margin	-17%	13%	15%	-1%	-20%	12%	18%	-1%	-18%	15%	20%	0%
Diluted EPS	-$0.65	$1.20	$1.69	-$0.07	-$0.71	$1.12	$2.18	-$0.06	-$0.73	$1.39	$2.33	$0.01
Operating cash flow	3.6	-21.6	125	121	-26.4	-19.4	180	102	-15.9	3.3	116	110
Capital expenditure	97.9	84.6	82.2	117	95.3	100	102	120	110	134	114	121
Free cash flow	-94.2	-106	42.8	4.3	-122	-120	77.4	-18.3	-126	-131	2.5	-11.6
Dividends paid	16.8	17.2	17.7	17.9	18.2	19.1	19.1	19.1	19.4	19.7	19.8	20.1
Shares outstanding	37m	38m	38m	39m	40m	40m	40m	41m	42m	42m	42m	42m
Filing	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q

Each quarter as filed, linked to its filing.

* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS and diluted share count are from the company's results press release for that quarter, used where the release gives the same revenue and net income as the table. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

Source

10-K for the period ended 31 December 2023, filed 23 February 2024, accession 0001733998-24-000011: the filing on EDGAR. All of Northwest Natural Holding Co.'s filings: EDGAR company page.

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