Company Overview of Northwest Natural Gas Company
Northwest Natural Gas Company stores and distributes natural gas in the United States. The company operates through two segments, Local Gas Distribution and Gas Storage. The Local Gas Distribution segment engages in the purchase, sale, and delivery of natural gas and related services to residential, commercial, and industrial customers in Oregon and southwest Washington. This segment builds and maintains pipeline distribution system; purchases gas from producers and marketers; contracts for the transportation of gas from the supply basins to service territory over pipelines; and resells gas. It also transports customer-owned gas from the interstate pipeline connection or city gates to the cu...
220 NW Second Avenue
Portland, OR 97209
Founded in 1859
Key Executives for Northwest Natural Gas Company
Chief Executive Officer, President and Director
Total Annual Compensation: $659.4K
Chief Financial Officer and Senior Vice President
Total Annual Compensation: $341.4K
Chief Operating Officer and Executive Vice President
Total Annual Compensation: $459.4K
Senior Vice President of Environmental Policy and Affairs
Total Annual Compensation: $340.1K
Chief Administrative Officer and Senior Vice President
Total Annual Compensation: $308.3K
Compensation as of Fiscal Year 2014.
Northwest Natural Gas Company Key Developments
Northwest Natural Gas Company Reports Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2015; Reaffirms Earnings Guidance for the Year 2015
May 5 15
Northwest Natural Gas Company reported unaudited consolidated earnings results for the first quarter ended March 31, 2015. For the quarter, the company reported consolidated net income of $28.486 million or $1.04 per diluted share compared to net income of $37.884 million and $1.40 per share for the same period in 2013. As adjusted, consolidated net income for the quarter was $37.6 million, or $1.37 per share, excluding the regulatory disallowance, compared to net income of $37.9 million, or $1.40 per share, for the first quarter of 2014. Net income for the first quarter of 2015 was down $9.4 million compared to the same period last year largely due to the $9.1 million after-tax charge related to the regulatory disallowance. Cash provided by operations was $118 million, compared to $220 million for the same period in 2014. The decrease is primarily due to receiving $91 million of environmental insurance recoveries in 2014, which did not recur in 2015 and other working capital changes. Capital expenditures were $27.135 million compared to $25.588 million a year ago. Operating revenue was $261.665 million compared to $293.386 million a year ago. Income from operations was $53.001 million compared to $75.028 million a year ago. Income before income taxes was $47.569 million compared to $64.869 million a year ago. Results for the current quarter include a onetime $15 million charge to O&M expense for the write-off of deferred environmental costs ordered by the OPUC. That charge decreased earnings by $9.1 million or $0.33 per share.
The company reaffirmed earnings guidance for 2015 in the range of $1.77 to $1.97 per share. As adjusted, earnings guidance is $2.10 to $2.30 per share for 2015 excluding the effects of the $15.0 million pre-tax charge, which is equivalent to $0.33 per share after-tax, for the regulatory disallowance associated with the OPUC order on the recovery of past environmental cost deferrals. The company's 2015 earnings guidance assumes continued customer growth from utility segment, average weather conditions, slow recovery of the gas storage market, and no other significant changes in prevailing legislative and regulatory policies or outcomes.
Northwest Natural Gas Company Declares Quarterly Dividend Payable on May 15, 2015
Apr 7 15
The Board of Directors of Northwest Natural Gas Company has declared a quarterly dividend of 46.5 cents per share on the company's common stock. The dividends will be paid on May 15, 2015 to shareholders of record on April 30, 2015.
Northwest Natural Gas Company to Report Q1, 2015 Results on May 05, 2015
Apr 7 15
Northwest Natural Gas Company announced that they will report Q1, 2015 results Pre-Market on May 05, 2015
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