JWN - Nordstrom, Inc.

NYSE - NYSE Delayed Price. Currency in USD
-1.31 (-3.30%)
At close: 4:01PM EST
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Previous Close39.69
Bid38.21 x 1100
Ask38.55 x 1000
Day's Range38.11 - 39.80
52 Week Range25.01 - 49.98
Avg. Volume3,352,500
Market Cap6B
Beta (5Y Monthly)0.67
PE Ratio (TTM)11.03
EPS (TTM)3.48
Earnings DateFeb 26, 2020 - Mar 2, 2020
Forward Dividend & Yield1.48 (3.73%)
Ex-Dividend Date2019-11-27
1y Target Est36.00
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The issue is getting the gas without making more CO2.Machines known as electrolyzers can create the hydrogen by splitting it out of water molecules. And when it burns, hydrogen leaves only water vapor behind. If the whole process is powered by a wind farm, no emissions are involved.To Orsted, it makes sense to pair offshore wind farms with hydrogen electrolyzers. Wind turbines are bigger and run more often when they’re sited at sea instead of on land -- often enough that they sometimes spin when the grid can’t absorb more power.Hydrogen factories could take that power and turn it into a gas. That would deliver another benefit in that they can store that energy for use later -- something that’s more difficult when the energy comes in the form of electricity.As the industry pushes to rapidly expand offshore wind in Europe, electrolysis may also help balance the variable generation rates of wind farms. When the wind doesn’t blow that strongly, electrolyzers could be turned down. When the wind picks up, the hydrogen production could be scaled up.Since 2018, Nordstrom has run a small team of people at the Danish energy company that’s focused on hydrogen. During 2019, the company unveiled a pair of pilot projects in the U.K. and Germany. A failed bid for an offshore wind farm off the coast of the Netherlands also included plans to incorporate green hydrogen. Orsted is continuing to develop hydrogen projects in the country and has a pipeline of other projects around northwest Europe, Nordstrom said.The major challenge is cost. Green hydrogen costs between $2.50 and $6.80 a kilogram to make, due to the relatively high costs of renewable-powered electrolysis, according BloombergNEF. That would need to fall below $2 in order to make renewable hydrogen competitive with coal, and to around 60 cents to beat the cheapest natural gas-based production, according to BNEF.That cost could come down to be competitive with fossil fuel by 2030, according to Nordstrom. 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    Edited Transcript of JWN earnings conference call or presentation 21-Nov-19 9:45pm GMT

    Q3 2019 Nordstrom Inc Earnings Call

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