Filing Flows › Utilities › Northwest Natural Gas
Northwest Natural Gas earnings and revenue breakdown
Latest: Q2 2026 · 10-Q filed Aug 5, 2026
Q2 2026 Revenue up 3% year over year to $244M · 0¢ of every $1 of revenue kept as net profit · operating margin 13.6%
Northwest Natural Gas made $244M in Q2 2026 (+3% Y/Y). Operating margin 13.6%, net earnings $600K. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Aug 5, 2026.
Drawing the Sankey…
Open the interactive Sankey → click any line for what the company wrote about it, compare Y/Y and Q/Q, export as PNG or PDF
What changed this quarter
Revenue was $243.6M in Q2 2026, up 3% year over year.
Operating profit was $33.2M, a 13.6% margin (up 2.1 points year over year). Of the extra revenue versus Q2 2025, 81% reached operating profit, above the 12% margin then. Total costs grew 1% against revenue growth of 3%. Net earnings were $600K. The effective tax rate was 50.4%.
Operating cash flow was $109.7M (up 7% year over year), 18287% of net earnings. Non-cash charges added back $44.2M of depreciation. Working capital and other items added $64.9M. Capital expenditures of $121.3M exceeded it, leaving free cash flow of −$11.6M.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q2 2026 | 10-Q | Aug 5, 2026 | $244M | +3% | 13.6% | $600K | $110M |
| Q1 2026 | 10-Q | May 6, 2026 | $490M | -0.8% | 33.2% | $97.5M | $116M |
| Q3 2025 | 10-Q | Nov 5, 2025 | $165M | +20% | -7.5% | −$29.9M | −$15.9M |
| Q2 2025 | 10-Q | Aug 5, 2025 | $236M | +12% | 11.5% | −$2.5M | $102M |
| Q1 2025 | 10-Q | May 6, 2025 | $494M | +14% | 31.2% | $87.9M | $180M |
Charts
Interactive views
The same charts as the app — open one to draw it.
💵Where each $1 goesinteractive
Loading the interactive chart…
🌏Named in Asian annual reportsinteractive
Loading the interactive chart…
🏭Its industry’s money flow (input-output)interactive
Loading the interactive chart…
About Northwest Natural Gas
NW Holdings is a holding company headquartered in Portland, Oregon and owns NW Natural, SiEnergy Operating, LLC (SiEnergy Gas Utility or SiEnergy), NW Natural Water Company, LLC (NWN Water Utility or NWN Water), and NW Natural Renewables Holdings, LLC (NWN Renewables). NW Natural distributes natural gas to residential, commercial, and industrial customers in Oregon and southwest Washington. NW Natural and its predecessors have supplied gas service to the public since 1859, was incorporated in Oregon in 1910, and began doing business as NW Natural in 1997. Prior to the first quarter of 2025, NW Natural's natural gas distribution activities were reported in the natural gas distribution (NGD) segment.
In its own words, from its 10-K, filed Feb 27, 2026.
Northwest Natural Gas against its Natural Gas Distribution peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +3% against the peers' median +7%. Operating margin: 13.6% against the peers' median 31.0%.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| Northwest Natural Gas | Q2 2026 | $244M | +3% | 13.6% |
| LNG Cheniere Energy | Q3 2026 | $6.2B | +39% | 31.0% |
| VG Venture Global | Q2 2026 | $4.6B | +48% | 47.8% |
| Cheniere Corpus Christi Holdings, LLC | Q3 2026 | $2.7B | +84% | 21.2% |
| CQP Cheniere Energy Partners, L.P. | Q3 2026 | $2.6B | +7% | 31.7% |
| Sabine Pass Liquefaction, LLC | Q3 2026 | $2.5B | +7% | 29.4% |
| ATO Atmos Energy | Q3 FY26 | $879M | +5% | 36.4% |
| NFG National Fuel Gas | Q3 FY26 | $537M | +1% | 38.9% |
| SR Spire | Q3 FY26 | $420M | -0.4% | 5.6% |
Source: Northwest Natural Gas 10-Q on SEC EDGAR · CIK 73020 · Natural Gas Distribution