Filing Flows › NorthWestern Energy Group (NWE) › Q2 2026
NorthWestern Energy Group (NWE) Q2 2026 earnings results (second quarter 2026)
10-Q filed Jul 30, 2026
NorthWestern Energy Group (NWE) reported revenue of $393M for the second quarter 2026 (Q2 2026), +15% from a year earlier and -21% from the quarter before. Operating margin was 16.4%, net earnings $25.0M (6.4% of revenue).
NorthWestern Energy Group, Q2 2026: revenue $393M (+15% year over year), operating margin 16.4%, net earnings $25.0M, operating cash flow $73.8M. The chart follows the revenue to costs, profit and cash.
| Q2 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $393M | -21% | +15% |
| Operating profit | $64.2M | -44% | +6% |
| Net earnings | $25.0M | -61% | +18% |
| Operating cash flow | $73.8M | -54% | +27% |
What changed
Revenue was $392.6M in Q2 2026, up 15% year over year and down 21% from the previous quarter.
Operating profit was $64.2M, a 16.4% margin (down 1.4 points year over year). Of the extra revenue versus Q2 2025, 7% reached operating profit, below the 18% margin then. Total costs grew 16% against revenue growth of 15%. The fastest-growing cost line was General & admin (+25%). Net earnings were $25.0M, up 18% year over year. The effective tax rate was 12.2%.
Operating cash flow was $73.8M (up 27% year over year), 295% of net earnings. Non-cash charges added back $67.0M of depreciation and amortization and $2.0M of share-based compensation. Working capital and other items used $20.2M. Capital expenditures of $188.7M exceeded it, leaving free cash flow of −$114.9M.
Questions
What was NorthWestern Energy Group's revenue in the second quarter 2026?
NorthWestern Energy Group (NWE) reported revenue of $393M for the second quarter 2026 (Q2 2026), +15% from a year earlier and -21% from the quarter before.
Was NorthWestern Energy Group profitable in the second quarter 2026?
Operating profit was $64.2M (16.4% of revenue) and net earnings $25.0M.