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NW Natural HOLDINGS ™ For Immediate Release Nov. 5 , 2021 NW Natural Holdings Reports Third Quarter 2021 Results PORTLAND , ORE . - Northwest Natural Holding Company , ( NYSE : NWN ) ( NW Natural Holdings ) , reported financial results and highlights including : ● Reported a net loss of $ 0.67 per share for the third quarter of 2021 , compared to a net loss of $ 0.61 per share from continuing operations for the same period in 2020 Earned net income of $ 1.24 per share for the first nine months of 2021 for an increase of $ 13.7 million or 55 % , compared to earnings from continuing operations of $ 0.80 per share for the same period in 2020 Added nearly 12,000 natural gas meters in the last 12 months for a growth rate of 1.5 % at Sept. 30 , 2021 Invested over $ 200 million in our utility systems in the first nine months of 2021 for greater reliability and resiliency Received Washington rate case order approving a two - year adjustment that combined has an estimated pre - tax earnings benefit of up to $ 8 million Received approval in Oregon and Washington for new rates related to the Purchased Gas Adjustment ( PGA ) mechanism , which includes estimated gas costs for the upcoming winter heating season Launched a competitive renewable energy strategy Increased our dividend for the 66th consecutive year to an annual indicated dividend rate of $ 1.93 per share Reaffirmed 2021 earnings guidance in the range of $ 2.40 to $ 2.60 per share " This quarter highlights our commitment to decarbonization , diversification , and growth , " said David H. Anderson , president and CEO of NW Natural Holdings . " We've made significant progress toward procuring RNG for our gas utility customers , demonstrating the critical role our system is playing to help move to a low - carbon , renewable energy future . With our new competitive renewables strategy , we're able to assist a broader group of customers with the energy transition . Our initial partnership and investment represents an exciting first step . I'm proud of our achievements to date and our long - term growth prospects . " For the third quarter of 2021 , the net loss increased $ 2.0 million to a $ 20.7 million net loss ( or $ 0.67 per share ) , compared to a net loss from continuing operations of $ 18.7 million ( or $ 0.61 per share ) for the same period in 2020. The third quarter reflects the seasonal nature of the gas utility's earnings where the majority of revenues are generated during the winter heating season in the first and fourth quarters each year . Results reflected higher operations and maintenance expenses and higher depreciation and general tax expenses as we continued to invest in our gas utility system , partially offset by customer growth and new rates in Oregon for our natural gas utility . Year - to - date net income increased $ 13.7 million to $ 38.1 million ( or $ 1.24 per share ) , compared to $ 24.5 million ( or $ 0.80 per share ) for the same period in 2020. Results reflected customer growth and new rates in Oregon for our natural gas utility , partially offset by higher operations and maintenance expenses , depreciation and general tax expenses . In addition , net income from our other activities increased primarily due to higher asset management revenues . 1