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Northwest Natural Holding Company (NYSE: NWN), headquartered in Portland, Oregon, serves as the largest independent natural gas utility in the Pacific Northwest. With a robust network, the company provides reliable natural gas service to approximately 700,000 residential, commercial, and industrial customers in Oregon and southwest Washington. Founded on a commitment to delivering safe and efficient energy, NW Natural focuses on the distribution and purchase of natural gas through its primary subsidiary, NW Natural.
NW Natural's operations are strategically centered around its natural gas distribution segment. This segment is essential in ensuring the seamless purchase and distribution of natural gas, primarily catering to the substantial demand in Oregon and southwest Washington. The company's diverse customer base predominantly includes residential and commercial sectors, which significantly contribute to its revenue and profitability.
Recent achievements highlight NW Natural's dedication to innovation and sustainability. The company has embarked on several projects aimed at enhancing energy efficiency and reducing carbon emissions. Their commitment to environmental stewardship is evident through investments in renewable natural gas and cutting-edge technologies designed to optimize operational performance.
Financially, NW Natural maintains a solid standing with consistent revenue generation primarily driven by its residential and commercial customers. The company's strategic partnerships and customer-centric approach further bolster its market position, ensuring stable growth and long-term value creation for shareholders.
NW Natural continues to prioritize safety, reliability, and customer satisfaction. The company's forward-looking projects and initiatives are designed to meet the evolving energy needs of its customers while adhering to stringent regulatory standards. Stay updated on the latest developments, financial performance, and strategic initiatives of NW Natural by visiting www.nwnatural.com.
Archaea Energy Inc. (NYSE: LFG) announced preliminary Q4 2021 results, reporting revenue of $58.4 million and net income of $3.7 million. Pro forma revenue for the full year reached $205.8 million, with a net loss of $77.4 million. Adjusted EBITDA was $16.4 million for Q4 and $76.1 million for the full year, exceeding guidance metrics. The company achieved significant milestones, including the operation of its Assai RNG facility and long-term agreements with NW Natural (NYSE: NWN) and FortisBC (NYSE: FTS). 2022 guidance includes RNG production of 11.1–11.7 million MMBtu and Adjusted EBITDA of $125–145 million.
Northwest Natural Holding Company (NYSE: NWN) has been recognized by Ethisphere as one of the 2022 World’s Most Ethical Companies. This marks the first time NWN has received this honor, placing it among only nine companies in the Energy & Utilities sector. A total of 136 companies were acknowledged globally across 22 countries and 45 industries. The recognition reflects NWN's long-standing commitment to integrity, safety, and environmental stewardship, as emphasized by CEO David H. Anderson.
Northwest Natural Holding Company (NYSE: NWN) reported a net income of $2.56 per share for 2021, an 11% increase from 2020. The company added over 11,400 gas meters and invested $294 million in utility systems. Customer satisfaction rankings improved, and the company received an $8 million estimated earnings benefit from a Washington rate case order. NWN initiated 2022 earnings guidance between $2.45 and $2.65 per share and increased its long-term EPS growth target to 4%-6%. Additionally, NW Natural has committed to renewable energy initiatives and significant water acquisitions.
NW Natural Water Company, a subsidiary of Northwest Natural Holding Company (NYSE:NWN), has signed agreements to acquire utilities in Southeast Texas, enhancing its regional presence. These acquisitions include Water Necessities & Rural Water near Beaumont and Caney Creek Utilities in Montgomery. Subject to regulatory approval, these deals are expected to close in 2022, allowing NW Natural Water to serve over 145,000 people across Oregon, Washington, Idaho, Texas, and Arizona. This expansion aligns with the company's strategy to provide reliable water and wastewater services.
NW Natural has ranked second among large utilities in the West for customer satisfaction according to the J.D. Power 2021 Gas Utility Residential Customer Satisfaction Study, scoring 778 out of 1,000. This marks a five-point increase from the previous year. The comprehensive study involved over 58,000 residential customer responses from 84 major gas utility brands across the U.S. NW Natural serves approximately 2.5 million customers in Oregon and Southwest Washington and is recognized for its commitment to safety and customer service.
NW Natural Renewables, a subsidiary of Northwest Natural Holdings (NYSE:NWN), has appointed Michael Kotyk as president. He brings over 25 years of experience in renewable natural gas, having led business development at EDL and DTE Energy's non-regulated affiliates. Under his leadership, NW Natural Renewables aims to capitalize on the growing market for renewable natural gas (RNG), having already earmarked $50 million for two production facilities to convert landfill waste gases to RNG. This strategic move positions the company to meet the increasing demand for sustainable energy solutions.
Northwest Natural Holding Company (NYSE: NWN) will release its fourth quarter and full year 2021 earnings on February 25, 2022, at 8 a.m. PT. The company invites analysts and investors to join a conference call and webcast to review the earnings results. The call can be accessed via the corporate website or by phone for U.S. and international participants. With over 160 years in operation, NW Natural serves approximately 2.5 million people in Oregon and Southwest Washington through a modern pipeline system and is recognized for high customer satisfaction.
The Board of Directors of Northwest Natural Holding Company (NYSE: NWN) has declared a quarterly dividend of 48.25 cents per share, payable on February 15, 2022, to shareholders of record as of January 31, 2022. This translates to an annual dividend rate of $1.93 per share. NWN has been operational for over 160 years and serves approximately 2.5 million people across Oregon and Southwest Washington through its natural gas and water services.
NW Natural Water Company, a subsidiary of Northwest Natural Holding Company (NYSE:NWN), is set to acquire a stake in Avion Water Company, Oregon's largest investor-owned water utility. This strategic investment aims to enhance NW Natural's presence in Oregon and capitalize on growth opportunities. Avion Water serves approximately 15,000 customers in Bend and surrounding areas. The transaction, expected to close in December 2021, will bolster Avion's financial strength and expansion capacity while maintaining its existing management team.
NW Natural Holding Company (NYSE: NWN) has elected Sandra McDonough to its board effective January 1, 2022. McDonough, formerly president and CEO of Oregon Business & Industry, brings over 20 years of experience in the energy sector, having held senior roles at PG&E National Energy Group and PG&E Gas Transmission Northwest. Her leadership is expected to enhance NWN's community engagement and strategic initiatives. She also joins the board of Northwest Natural Gas Company, a wholly owned subsidiary.
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