NorthWestern Reports 2013 Financial Results Company reports diluted earnings per share of $2.46 for 2013
NorthWestern Corporation d/b/a NorthWestern Energy (NYSE: NWE) reported financial results for the year ended December 31, 2013. Net income was $94.0 million, or $2.46 per diluted share, for the year ended December 31, 2013, compared with net income of $98.4 million, or $2.66 per diluted share, for the year ended December 31, 2012. While year-over-year earnings declined, 2012 earnings contained several significant items including a $24.0 million impairment related to a transmission project in the third quarter and a $47.9 million gain on an arbitration decision in the fourth quarter last year.
"We are pleased our 2013 earnings are within our increased guidance range of $2.45 - $2.60, even inclusive of approximately $0.11 of expense related to the pending hydro transaction not originally contemplated in guidance." said Bob Rowe, Chief Executive Officer. "And while the success of the hydro transaction is paramount to our customers, investors and employees, we remain committed to excellence on all the other fronts that continue to move us forward. In addition, we are happy to announce our Board of Directors approved a 5.3%, or $0.08 annualized, increase in our 2014 dividend."
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