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NW Natural Q2 earnings climb on higher revenues, utility margin

Northwest Natural Gas Co. d/b/a NW Natural on Aug. 2 reported consolidated net income of $2.7 million, or 10 cents per share, for the second quarter, an increase from $2.0 million, or 7 cents per share, in the prior-year period.

The S&P Capital IQ consensus normalized EPS estimate for the most recent quarter was 6 cents.

Operating revenues were up 37% year over year to $136.2 million, compared with $99.2 million a year earlier. Utility margin was $74.5 million, an increase from $69.4 million a year ago.

The company continues to target full-year earnings in the range of $2.05 per share to $2.25 per share. The S&P Capital IQ consensus normalized EPS estimate for the year is $2.16.