Financial Data and Key Metrics Changes - The company reported Q4 2022 GAAP earnings of $1.16 per share, a $0.20 increase from the previous year, and non-GAAP earnings of $1.13, a $0.09 increase [33] - For the full year, GAAP earnings were $3.25, down from $3.60 the previous year, while non-GAAP earnings were $3.18, down from $3.51 [45][61] - Net income for the year was $183 million, a decrease of $3.8 million or 2% compared to the prior year [45] Business Line Data and Key Metrics Changes - The company achieved record system peaks for both electric and gas businesses in 2022, indicating strong operational performance [17] - The company invested $580 million in capital expenditures in 2022, marking the largest investment year to date [20] Market Data and Key Metrics Changes - The company faced significant challenges due to severe weather events, which impacted operational costs and market prices [36][39] - The PCCAM (Power Cost and Credit Adjustment Mechanism) had a detrimental impact of $7.2 million on the company's results for the year [36][52] Company Strategy and Development Direction - The company announced a commitment to achieve Net Zero by 2050 and has published a Sustainability Report aligned with TCFD and SASB [20] - The acquisition of Colstrip for zero purchase price is aimed at enhancing reliability, affordability, and sustainability, with plans to mitigate reliance on imported power [21][22] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about 2023, citing favorable regulatory reception and operational tailwinds [3] - The company is focused on addressing capacity constraints and enhancing its generation and transmission capabilities [58][65] Other Important Information - The company is in the process of a rate case in Montana, which is expected to significantly influence future earnings and growth [55] - The company plans to issue $75 million under its ATM equity program during 2023 [63] Q&A Session Questions and Answers Question: Thoughts on the 2023 guidance and capital plan - Management confirmed that they will evaluate the base year for guidance and expect to provide updated guidance after the rate case [75] Question: Clarification on rate base and capital expenditures - Management explained that the capital roll-forward represents a steady approach and is focused on maintaining affordability while addressing capacity needs [80] Question: Impact of acquiring Colstrip on rates - Management indicated that acquiring Colstrip for zero upfront cost will allow for recovery of operating costs starting January 1, 2026, with strong support from local stakeholders [96] Question: Comments on the Broadview decision and its implications - Management expressed disappointment with the Broadview decision but noted that the acquisition of Colstrip helps close the capacity gap [88]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 (Address of principal executive offices) (Zip Code) (I.R.S. Employer Identification No.) Registrant's telephone number, including area code: 605-978-2900 For the transition period from to Commis ...

Wells Fargo Utility Symposium December 7, 20228-K December 7, 2022 NorthWestern® Delivering a Bright Future 2 Forward Looking Statements Forward Looking Statements During the course of this presentation, there will be forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements often address our expected future business and financial performance, and often contain words such as "expects," "anticipates," "int ...

EEI Financial Conference November 20228-K November 14, 2022 NorthWestern® 2 Forward Looking Statements Forward Looking Statements During the course of this presentation, there will be forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements often address our expected future business and financial performance, and often contain words such as "expects," "anticipates," "intends," "plans," "believes," "seeks ...

NorthWestern Corporation (NASDAQ:NWE) Q3 2022 Earnings Conference Call October 25, 2022 3:30 PM ET Company Participants Travis Meyer - Director of Corporate Finance & Investor Relations Officer Bob Rowe - CEO Crystal Lail - VP & CFO Brian Bird - President & COO Conference Call Participants Shar Pourreza - Guggenheim Securities Sophie Karp - KeyBanc Travis Meyer Good afternoon, and thank you for joining NorthWestern Corporation's Financial Results Webcast for the Quarter Ending September 30, 2022. My name is ...

Rainbow Dam, MT 2022 Third Quarter Earnings Webcast October 25, 2022 NorthWester Delivering a Bright Fut Bob Rowe CEO Brian Bird President & COO Presenting Today Crystal Lail Vice President & CFO Forward Looking Statements During the course of this presentation, there will be forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements often address our expected future business and financial performance, and ...

VERSION 3 UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q (mark one) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2022 OR TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 1-10499 NORTHWESTERN CORP (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorp ...

Sidoti Virtual Conference September 20228-K September 22, 2022 NorthWestern® Delivering a Energy 2 Forward Looking Statements Forward Looking Statements During the course of this presentation, there will be forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements often address our expected future business and financial performance, and often contain words such as "expects," "anticipates," "intends," "pla ...

Sunrise from Swords Park | Billings, MT 2022 Second Quarter Earnings Webcast July 28, 2022 NorthWestern Delivering a Bright Futur Bob Rowe CEO Brian Bird President & COO Presenting Today Crystal Lail Vice President & CFO Forward Looking Statements During the course of this presentation, there will be forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements often address our expected future business and f ...

NorthWestern Corporation (NASDAQ:NWE) Q2 2022 Earnings Conference Call July 28, 2022 3:30 PM ET Company Participants Travis Meyer - Director of Corporate Finance and Investor Relations Officer Bob Rowe - Chief Executive Officer Crystal Lail - Vice President and Chief Financial Officer Brian Bird - President and Chief Operating Officer Conference Call Participants Shar Pourreza - Guggenheim Securities Ryan Greenwald - Bank of America Chris Ellinghaus - Siebert Williams Shank Sophie Karp - KeyBanc Anthony Cro ...