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Northwest Natural Gas beats 2Q profit forecasts

PORTLAND, Ore. (AP) _ Northwest Natural Gas Co. (NWN) on Wednesday reported second-quarter net income of $2.7 million.

On a per-share basis, the Portland, Oregon-based company said it had profit of 10 cents.

The results exceeded Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 6 cents per share.

The natural gas distributor posted revenue of $136.2 million in the period.

Northwest Natural Gas expects full-year earnings to be $2.05 to $2.25 per share.

Northwest Natural Gas shares have climbed slightly more than 7 percent since the beginning of the year. The stock has dropped slightly in the last 12 months.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on NWN at https://www.zacks.com/ap/NWN


Keywords: Northwest Natural Gas, Earnings Report