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NorthWestern Reports Third Quarter 2024 Financial Results
Date: Oct 28, 2024
TYPE: News
BUTTE, MT / SIOUX FALLS, SD - October 28, 2024 - NorthWestern Energy Group, Inc. d/b/a NorthWestern
Energy (Nasdaq: NWE) reported financial results for the third quarter 2024. Net income for the period was $46.8
million, or $0.76 per diluted share, as compared with net income of $29.3 million, or $0.48 per diluted share, for the
same period in 2023. NorthWestern’s third quarter 2024 non-GAAP net income and non-GAAP earnings per share
were $39.7 million and $0.65, respectively, compared to $30.0 million and $0.49 in 2023. See “Adjusted Non-
GAAP Earnings” and “Non-GAAP Financial Measures” sections in the complete press release for more information on these measures.
Third quarter earnings were driven by rate relief in Montana and South Dakota, higher electric transmission revenues, and an income tax benefit, partly offset by mild weather, insurance costs, depreciation, and interest expense.
"As we continue to execute on our strategic priorities, we are pleased to report another quarter of solid earnings growth," said Brian Bird, President and CEO. "We remain committed to providing reliable and affordable energy for our customers. Yellowstone County Generating Station began to serve customers in October, providing critical capacity as we go into the winter season. Meanwhile, we are actively working with the commissions in Montana, South Dakota, and Nebraska to advance our rate reviews and ensure timely recovery of the substantial investments we’ve made on our customers behalf."