North Western Energy NWE reported fourth-quarter 2017 operating earnings of 98 cents per share, which missed the Zacks Consensus Estimate of $1.02 by 3.9%.
However, earnings improved 7.7% from 91 cents in the year-ago quarter.
In 2017, GAAP earnings were $3.34 per share, down 5 cents from $3.39 in the year-ago quarter. Non-GAAP earnings were $3.30, at the lower end of guidance.
Total Revenues
North Western Energy’s total revenues were $344.5 million, up 4.2% from $330.5 million in fourth-quarter 2016.
NorthWestern Corporation Price, Consensus and EPS Surprise
NorthWestern Corporation Price, Consensus and EPS Surprise | NorthWestern Corporation Quote
Highlights of the Release
Total operating expenses rose 3.6% year over year to $164.5 million. Increase in expenses was caused by higher maintenance costs at Dave Gates Generating Station & Colstrip Unit 4 and bad debt expenses.
Interest expenses amounted to $22.3 million, down 2.9% from the year-ago quarter.
Operating income totaled $71 million, up 10.8% year over year.
Financial Update
In 2017, total net liquidity was $88.9 million, down 14.7% from the year-ago quarter. This includes cash of $8.5 million and available revolving credit facility of $80.4 million.
The company announced that it has raised the quarterly dividend payment by 4.8% to 55 cents per share. The dividend is payable on Mar 30, to shareholders of record as of Mar 15.
Guidance
North Western Energy reiterated 2018 earnings in the range of $3.35-$3.50 per share.
Zacks Rank
North Western Energy has a Zacks Rank #3 (Hold).
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Peer Releases
American Electric Power AEP reported fourth-quarter 2017 operating earnings of 85 cents per share, beating the Zacks Consensus Estimate of 81 cents by 4.9%.
NextEra Energy NEE reported fourth-quarter 2017 adjusted earnings of $1.25 per share, which lagged the Zacks Consensus Estimate of $1.31 by 4.6%.
Dominion Energy D reported fourth-quarter 2017 operating earnings of 91 cents per share, beating the Zacks Consensus Estimate of 88 cents by 3.4%.
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