Earnings release
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NorthWestern FOR IMMEDIATE RELEASE Energy NorthWestern Corporation d / b / a NorthWestern Energy 3010 W. 69th Street Sioux Falls , SD 57108 www.northwesternenergy.com NorthWestern Reports First Quarter 2021 Financial Results Company reports GAAP diluted earnings per share of $ 1.24 for the quarter , affirms 2021 earnings guidance and announces a $ 0.62 per share quarterly dividend payable June 30 , 2021 BUTTE , MT / SIOUX FALLS , SD - April 21 , 2021 - NorthWestern Corporation d / b / a NorthWestern Energy ( Nasdaq : NWE ) reported financial results for the three months ended March 31 , 2021. Net income for the period was $ 63.1 million , or $ 1.24 per diluted share , as compared with net income of $ 50.7 million , or $ 1.00 per diluted share , for the same period in 2020. This increase was primarily due to improved gross margin from colder winter weather and lower operating costs , partly offset by higher Montana electric supply costs and depreciation expense , and lower income tax benefit . " First quarter operating and financial results were solid and a great start to a new year , " said Bob Rowe , Chief Executive Officer . " The February extreme cold weather event that that hammered much of the country once again highlighted the importance of a safe , reliable and resilient energy grid and adequate electric and natural gas capacity . Just yesterday , we announced the projects that will be the first steps in addressing our capacity deficit in Montana . The February cold snap resulted in severe economic and personal disruption in a broad section of the country , including brown - outs and black - outs , and significant increases in electric and natural gas costs , driving liquidity issues for many utilities . We were able to navigate the event with minimal disruption to our customers and manageable balance sheet strain . We are proud of how our people and our infrastructure performed when customers needed us most . " Additional information regarding this release can be found in the earnings presentation found at www.northwesternenergy.com/our-company/investor-relations/presentations-and-webcasts .