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Northwestern (NWE) Q2 Earnings Beat, Revenues Up Y/Y
Northwestern Corporation (NWE - Free Report) announced second-quarter 2016 adjusted earnings of 65 cents per share, beating the Zacks Consensus Estimate of 56 cents by 16.1%. On a year-over-year basis too, earnings surged nearly 35.4%, backed by higher revenues and lower income tax expense.
Total Revenue
In the second quarter, Northwestern Corporation’s operating revenues were $293 million, up nearly 8.1% from $271 million a year ago.
Operational Update
During the quarter under review, Northwestern Corporation’s total operating expenses increased 13.7% year over year to $147.7 million due to higher property and other taxes, and depreciation and depletion expenses.
Operating income grew nearly 4.3% to $63.7 million from $61.1 million a year ago.
Interest expenses were $26.4million, up around 15.3% from $22.9 million in the prior-year quarter on account of higher long-term debt.
NORTHWESTERN CP Price, Consensus and EPS Surprise
NORTHWESTERN CP Price, Consensus and EPS Surprise | NORTHWESTERN CP Quote
Financial Update
Northwestern Corporation had cash and cash equivalents of $9 million as of Jun 30, 2016, compared with $11.9 million as of Dec 31, 2015.
Long-term debts as of Jun 30, 2016 were $1,774 million, up from $1,768 million as of Dec 31, 2015.
Cash flow from operating activities was $141 million, compared with $190 million in the year-ago period.
Guidance
Northwestern Corporation reiterated its earnings guidance in the range of $3.20–$3.35 per share for 2016, depending on normal weather conditions in its service territories, an effective income tax rate of nearly 6–10% on pre-tax income and outstanding diluted average shares of approximately 48.6 million.
Upcoming Peer Releases
DTE Energy Company (DTE - Free Report) is scheduled to report second-quarter 2016 earnings on Jul 26. The Zacks Consensus Estimate stands at 90 cents.
NiSource Inc. (NI - Free Report) is slated to report second-quarter 2016 earnings on Aug 2. The Zacks Consensus Estimate stands at 6 cents.
PG&E Corporation (PCG - Free Report) scheduled to report second-quarter 2016 earnings on Jul 28. The Zacks Consensus Estimate stands at 94 cents.
Zacks Rank
Currently, Northwestern Corporation carries a Zacks Rank #4 (Sell).
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