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Northwest Natural Holding (NWN) earnings and revenue breakdown
Latest: Q3 2026 · 10-Q filed Nov 5, 2026 · Northwest Natural Holding (NWN) Q3 2026 earnings results →
Q3 2026 Revenue up 8% year over year to $178M · 17¢ of every $1 of revenue lost · operating margin -4.9%
Northwest Natural Holding made $178M in Q3 2026 (+8% Y/Y). Operating margin -4.9%, net loss $29.8M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Nov 5, 2026.
Drawing the Sankey…
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What changed this quarter
Revenue was $178.0M in Q3 2026, up 8% year over year and down 27% from the previous quarter.
Operating costs exceeded revenue by $8.7M, an operating margin of -4.9%. Total costs grew 5% against revenue growth of 8%. The quarter ended with a net loss of $29.8M, after a profit of $600K the previous quarter. Net interest and other expense of $31.3M was the main reason.
Operating cash flow was −$12.7M. Non-cash charges added back $45.0M of depreciation. Working capital and other items used $27.8M. Capital expenditures of $138.5M exceeded it, leaving free cash flow of −$151.2M.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q3 2026 | 10-Q | Nov 5, 2026 | $178M | +8% | -4.9% | −$29.8M | −$12.7M |
| 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 |
| Q4 2025 | 10-K | Feb 27, 2026 | $394M | +6% | 28.4% | $57.8M | $3.3M |
| 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
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💵Where each $1 goesinteractive
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🌏Named in Asian annual reportsinteractive
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🔄Rotation against the market and its industry (RRG)interactive
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🔍Earnings qualityinteractive
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⚖️Fair value by methodinteractive
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🔭Outlook & guidanceinteractive
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📈Investments: gains and what it boughtinteractive
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🏭Its industry’s money flow (input-output)interactive
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About Northwest Natural Holding
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 Holding against its Natural Gas Distribution peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +8% against the peers' median +7%. Operating margin: -4.9% against the peers' median 31.0%.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| NWN Northwest Natural Holding | Q3 2026 | $178M | +8% | -4.9% |
| 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 Holding 10-Q on SEC EDGAR · CIK 1733998 · Natural Gas Distribution
Guidance and outlook
13F: who owns NWN and who is buying
More on NWN
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History
Every quarter: Q3 2026 results · Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results
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