The following is a summary of the NorthWestern Energy Group, Inc. (NWE) Q3 2024 Earnings Call Transcript:

Financial Performance:

• Reported GAAP diluted EPS of $0.76 for Q3, up from $0.48 in the previous quarter.

• Non-GAAP diluted EPS was adjusted to $0.65 due to tax benefits and other adjustments.

• GAAP net income was $46.8 million, up from $29.3 million in the previous quarter.

• Adjusted guidance for 2024 non-GAAP EPS is now $3.32 to $3.47, considering delays in Montana interim rates.

Business Progress:

• Yellowstone County Generating Station began operations in October 2024.

• Received part of a $700 million GRIP grant for the North Plains Connector Consortium project, enhancing the Colstrip transmission system.

• Continuing to explore additional capacity and generation opportunities in the FERC transmission sector and through potential buyouts of existing power purchase agreements.

Opportunities:

• The company's exploration of new projects and the ongoing regulatory proceedings offer opportunities to enhance earnings and capacity. These include the North Plains Connector for additional transmission capability and potential generation projects.

Risks:

• Delays in Montana interim rates impact financial outcomes and planning; further delays could affect Q1 2025 numbers.

• Uncertainty in regulatory approval processes, particularly concerning rates and interim rates, which are critical for ongoing capital recovery and investment.

• Potential costs and operational changes associated with environmental regulations such as the EPA's MATS rules could impact the operation of facilities like the Colstrip plant.

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