$NWE

NorthWestern Energy Group, Inc.

CIK:0001993004|SEC Filings

CONDENSED CONSOLIDATED STATEMENTS OF INCOME - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Revenues
Electric	$ 324,254	$ 279,468	$ 686,308	$ 614,951
Gas	68,345	63,245	203,861	194,392
Total Revenues	392,599	342,713	890,169	809,343
Operating expenses
Fuel, purchased supply and direct transmission expense (exclusive of depreciation and depletion shown separately below)	89,823	75,271	235,388	213,468
Operating, general, and administrative	79,095	62,336	153,635	119,045
Administrative and general	42,356	33,773	88,475	75,130
Property and other taxes	50,101	48,168	100,505	91,408
Depreciation and depletion	66,978	62,379	133,809	124,779
Total Operating Expenses	328,353	281,927	711,812	623,830
Operating income	64,246	60,786	178,357	185,513
Interest expense, net	(40,332)	(36,254)	(80,248)	(72,765)
Other income, net	4,546	78	7,603	4,006
Income before income taxes	28,460	24,610	105,712	116,754
Income tax expense	(3,466)	(3,382)	(17,262)	(18,586)
Net Income	$ 24,994	$ 21,228	$ 88,450	$ 98,168
Average Common Shares Outstanding	61,508,960	61,380,777	61,484,991	61,360,252
Basic Earnings per Average Common Share	$ 0.41	$ 0.35	$ 1.44	$ 1.60
Diluted Earnings per Average Common Share	0.40	0.35	1.43	1.60
Dividends Declared per Common Share	$ 0.670	$ 0.660	$ 1.340	$ 1.320

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Cash Provided by (Used in) Operating Activity, Including Discontinued Operation [Abstract]
Net Income	$ 88,450	$ 98,168
Adjustments to reconcile net income to cash provided by operations:
Depreciation and depletion	133,809	124,779
Amortization of debt issuance costs, premium, and deferred hedge gain	1,926	2,343
Stock-based compensation costs	4,088	4,168
Equity portion of allowance for funds used during construction	(4,587)	(4,066)
Deferred income taxes	14,406	16,746
Increase (Decrease) in Other Operating Assets and Liabilities, Net	41	(151)
Changes in current assets and liabilities:
Accounts receivable	40,967	32,841
Inventories	(13,480)	(2,458)
Other current assets	(5,410)	9,907
Accounts payable	(7,781)	(27,688)
Accrued expenses and other	22,571	(2,861)
Regulatory assets	(12,532)	(27,653)
Regulatory liabilities	(11,969)	(4,200)
Other noncurrent assets and liabilities	(17,185)	(8,576)
Cash Provided by Operating Activities	233,232	211,601
Cash Provided by (Used in) Investing Activity, Including Discontinued Operation [Abstract]
Property, plant, and equipment additions	(304,772)	(220,978)
Investment in debt & equity securities	(1,070)	(5,778)
Cash Used in Investing Activities	(305,842)	(226,756)
Cash Provided by (Used in) Financing Activity, Including Discontinued Operation [Abstract]
Dividends on common stock	(82,103)	(80,654)
Issuance of long-term debt	375,000	500,000
Repayment of short-term borrowings	(50,000)	0
Repayments on long-term debt	(60,000)	(300,000)
Line of credit repayments, net	(114,000)	(103,000)
Other financing activities, net	(1,925)	(3,660)
Cash Provided by Financing Activities	66,972	12,686
Decrease in Cash, Cash Equivalents, and Restricted Cash	(5,638)	(2,469)
Cash, Cash Equivalents, Restricted Cash, and Restricted Cash Equivalents, Beginning Balance	30,738	29,017
Cash, Cash Equivalents, Restricted Cash, and Restricted Cash Equivalents, Ending Balance	25,100	26,548
Cash Paid [Abstract]
Interest Paid, Excluding Capitalized Interest, Operating Activity	76,713	67,166
Cash Flow, Noncash Investing and Financing Activities Disclosure [Abstract]
Capital expenditures included in accounts payable	$ 34,653	$ 32,015

CONDENSED CONSOLIDATED BALANCE SHEET - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
Current Assets:
Cash and cash equivalents	$ 4,180	$ 8,781
Restricted cash	20,920	21,957
Accounts receivable, net	168,782	209,751
Inventories	145,986	132,506
Regulatory assets	105,469	92,937
Prepaid expenses and other	36,312	38,010
Total current assets	481,649	503,942
Property, plant, and equipment, net	6,902,094	6,738,849
Goodwill	367,635	367,635
Regulatory assets	778,828	772,634
Other noncurrent assets	173,495	76,631
Total Assets	8,703,701	8,459,691
Current Liabilities:
Current maturities of finance leases	1,708	1,865
Current portion of long-term debt	44,996	104,967
Short-Term Debt	100,000	150,000
Accounts payable	114,802	129,633
Accrued expenses and other	294,896	272,373
Regulatory liabilities	26,644	38,613
Total current liabilities	583,046	697,451
Long-term finance leases	7,728	0
Long-term debt	3,442,174	3,181,040
Deferred income taxes	761,092	733,064
Noncurrent regulatory liabilities	692,026	678,861
Other noncurrent liabilities	322,298	283,535
Total Liabilities	5,808,364	5,573,951
Commitments and Contingencies (Note 11)
Shareholders' Equity:
Common Stock, Value, Issued	650	649
Treasury stock at cost	(99,035)	(97,503)
Paid-in capital	2,096,493	2,091,935
Retained earnings	903,067	896,720
Accumulated other comprehensive loss	(5,838)	(6,061)
Total Shareholders' Equity	2,895,337	2,885,740
Total Liabilities and Shareholders' Equity	$ 8,703,701	$ 8,459,691
Preferred Stock, Shares Issued	0
Common Stock, Par or Stated Value Per Share	$ 0.01
Common Stock, Shares Authorized	200,000,000
Common Stock, Shares, Issued	65,006,266
Common Stock, Shares, Outstanding	61,513,596
Preferred Stock, Par or Stated Value Per Share	$ 0.01
Preferred Stock, Shares Authorized	50,000,000
Preferred Stock, Shares Outstanding	0