Filing Flows › Northwest Natural Holding (NWN) › Q2 2025
Northwest Natural Holding (NWN) Q2 2025 earnings results (second quarter 2025)
10-Q filed Aug 5, 2025
Northwest Natural Holding (NWN) reported revenue of $236M for the second quarter 2025 (Q2 2025), +12% from a year earlier and -52% from the quarter before. Operating margin was 11.5%, net loss $2.5M (1.1% of revenue).
Northwest Natural Holding, Q2 2025: revenue $236M (+12% year over year), operating margin 11.5%, net loss $2.5M, operating cash flow $102M. The chart follows the revenue to costs, profit and cash.
| Q2 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $236M | -52% | +12% |
| Operating profit | $27.2M | -82% | — |
| Net earnings | −$2.5M | -103% | — |
| Operating cash flow | $102M | -43% | -16% |
What changed
Revenue was $236.2M in Q2 2025, up 12% year over year and down 52% from the previous quarter.
Operating profit was $27.2M, a 11.5% margin (up 4.1 points year over year). Of the extra revenue versus a year earlier, 47% reached operating profit, above the 7% margin then. Total costs grew 7% against revenue growth of 12%. The quarter ended with a net loss of $2.5M, after a profit of $87.9M the previous quarter. Net interest and other expense of $30.7M was the main reason.
Operating cash flow was $102.2M (down 16% year over year). Non-cash charges added back $41.5M of depreciation. Working capital and other items added $63.1M. Capital expenditures of $120.5M exceeded it, leaving free cash flow of −$18.3M.
Questions
What was Northwest Natural Holding's revenue in the second quarter 2025?
Northwest Natural Holding (NWN) reported revenue of $236M for the second quarter 2025 (Q2 2025), +12% from a year earlier and -52% from the quarter before.
Was Northwest Natural Holding profitable in the second quarter 2025?
Operating profit was $27.2M (11.5% of revenue) and net loss $2.5M.