Filing Flows › NorthWestern Energy Group (NWE) › Q1 2026
NorthWestern Energy Group (NWE) Q1 2026 earnings results (first quarter 2026)
10-Q filed Apr 30, 2026
NorthWestern Energy Group (NWE) reported revenue of $498M for the first quarter 2026 (Q1 2026), +7% from a year earlier and +20% from the quarter before. Operating margin was 22.9%, net earnings $63.5M (12.8% of revenue).
NorthWestern Energy Group, Q1 2026: revenue $498M (+7% year over year), operating margin 22.9%, net earnings $63.5M, operating cash flow $159M. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $498M | +20% | +7% |
| Operating profit | $114M | +90% | -9% |
| Net earnings | $63.5M | +42% | -18% |
| Operating cash flow | $159M | +184% | +4% |
| Free cash flow | $43.3M | — | -29% |
What changed
Revenue was $497.6M in Q1 2026, up 7% year over year and up 20% from the previous quarter.
Operating profit was $114.1M, a 22.9% margin (down 3.8 points year over year). Operating profit fell $10.6M even though revenue rose $30.9M versus Q1 2025, so costs grew faster than sales. Total costs grew 12% against revenue growth of 7%. The fastest-growing cost line was Other operating costs (+12%). Net earnings were $63.5M, down 18% year over year. The effective tax rate was 17.9%.
Operating cash flow was $159.4M (up 4% year over year), 251% of net earnings. Non-cash charges added back $66.8M of depreciation and amortization and $2.0M of share-based compensation. Working capital and other items added $27.1M. Capital expenditures of $116.1M left free cash flow of $43.3M.
Questions
What was NorthWestern Energy Group's revenue in the first quarter 2026?
NorthWestern Energy Group (NWE) reported revenue of $498M for the first quarter 2026 (Q1 2026), +7% from a year earlier and +20% from the quarter before.
Was NorthWestern Energy Group profitable in the first quarter 2026?
Operating profit was $114M (22.9% of revenue) and net earnings $63.5M.