Filing Flows › Northwest Natural Holding (NWN) › Q1 2026
Northwest Natural Holding (NWN) Q1 2026 earnings results (first quarter 2026)
10-Q filed May 6, 2026
Northwest Natural Holding (NWN) reported revenue of $490M for the first quarter 2026 (Q1 2026), -0.8% from a year earlier and +24% from the quarter before. Operating margin was 33.2%, net earnings $97.5M (19.9% of revenue).
Northwest Natural Holding, Q1 2026: revenue $490M (-0.8% year over year), operating margin 33.2%, net earnings $97.5M, operating cash flow $116M. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $490M | +24% | -0.8% |
| Operating profit | $163M | +46% | +6% |
| Net earnings | $97.5M | +69% | +11% |
| Operating cash flow | $116M | 35× | -35% |
| Free cash flow | $2.5M | — | -97% |
What changed
Revenue was $490.4M in Q1 2026, down 1% year over year and up 24% from the previous quarter.
Operating profit was $162.9M, a 33.2% margin (up 2.0 points year over year). Total costs fell 4% while revenue fell 1%. Net earnings were $97.5M, up 11% year over year. The effective tax rate was 25.0%.
Operating cash flow was $116.1M (down 35% year over year), 119% of net earnings. Non-cash charges added back $44.1M of depreciation. Working capital and other items used $25.5M. Capital expenditures of $113.7M left free cash flow of $2.5M.
Questions
What was Northwest Natural Holding's revenue in the first quarter 2026?
Northwest Natural Holding (NWN) reported revenue of $490M for the first quarter 2026 (Q1 2026), -0.8% from a year earlier and +24% from the quarter before.
Was Northwest Natural Holding profitable in the first quarter 2026?
Operating profit was $163M (33.2% of revenue) and net earnings $97.5M.