NorthWestern Affirms 2024 Guidance: Sees EPS Of $3.42 - $3.62 Vs. $3.49 Consensus

Author: Benzinga Newsdesk | April 26, 2024 02:46am

Affirming 2024 Earnings Guidance, Capital Plan and Long-Term EPS Growth

We are affirming 2024 diluted earnings guidance of $3.42 - $3.62 per diluted share and our $500 million capital plan. This guidance is based upon, but not limited to, the following major assumptions:

• Normal weather in our service territories;
• An effective income tax rate of approximately 12%-14%; and
• Diluted average shares outstanding of approximately 61.3 million.

We are also affirming our long-term (5 year) diluted earnings per share growth guidance of 4% to 6% from a 2022 base year of $3.18 diluted earnings per share on a non-GAAP basis. We expect rate base growth of 4% to 6%. Our current capital investment program is sized to provide for no equity issuances. Future generation capacity additions or other strategic opportunities may require equity financing.

Posted In: NWE