Northwest Natural(NYSE) NWN

Northwest Natural Holding Company delivers natural gas to help families heat their homes and cook meals. The company also manages water systems to provide clean water to local communities. Its services support hundreds of thousands of people across the Pacific Northwest and Texas.

What Is in the Pipeline?

• Natural Gas Utility: Delivers gas to residential, commercial, and industrial customers in Oregon and Washington; involves 809,917 meters as of June 30, 2026.
• SiEnergy Services: Provides gas distribution and transmission in the Houston, Dallas, and Austin areas through a business segment acquired in 2025.
• Water and Wastewater: Manages 81,294 water and wastewater connections across five states as of June 30, 2026.
• Gas Storage: Operates the Mist underground facility in Oregon for utility and interstate customers.
• Renewable Natural Gas: Focuses on nonregulated activities that turn waste gases into usable energy.

Reaching New Customers

• Acquired SiEnergy on Jan. 7, 2025, to enter the Texas natural gas market.
• Completed the purchase of Pines Holdings on June 2, 2025, to expand Texas operations.
• Announced a planned expansion of 4 to 5 billion cubic feet at the North Mist gas storage facility in February 2026.
• Implemented new utility rates for Oregon customers on Oct. 31, 2025, to support revenue growth.
• Received approval for new rates in Washington that became effective on Aug. 1, 2026.

More Than Just Gas

Northwest Natural combines a long-standing gas utility in the Pacific Northwest with a growing water business and a new footprint in Texas. The company uses specialized storage facilities like the Mist field to manage energy supplies and serves over 80,000 people through its expanding water and wastewater operations.

A Look at the Numbers

• Consolidated net income was $98.1 million for the six months ended June 30, 2026, up $12.7 million year over year.
• Diluted earnings per share reached $2.33 in the first half of 2026, compared to $2.11 in the same period of 2025.
• Capital expenditures totaled $235.0 million for the first six months of 2026 as the company invested in system safety.
• Market capitalization rose to $2.1 billion in Q2 2026, up 28.7% from $1.6 billion in Q2 2025.

Evolution of the Business

Northwest Natural has transformed from a regional gas utility into a diversified energy and water holding company. Its expansion into Texas and the water sector provides new growth paths alongside its established Oregon and Washington operations.