Investor Presentaiton
L
$4.25
$4.00
$3.75
$3.50
$3.25
GAAP Diluted EPS
Diluted Earnings Per Share
Original Guidance Range
-Non-GAAP "Adjusted" EPS
Revised Guidance
Earnings Growth
$3.00
$2.75
$2.50
$2.25
$2.46
$2.99
$3.17
$3.39
$3.34
$3.92
$3.98
$3.06
$2.00
2013
2014
2015
2016
2017
2018
2019
2020
2021
Non-GAAP
Adjusted
EPS Growth
Averaged
4.3% from
2013-2020
NorthWestern affirms its 2021 earnings guidance range of $3.40 to $3.60 per diluted share based upon, but not
limited to, the following major assumptions and expectations:
•
•
COVID-19 related reduction in our commercial and industrial sales volumes, offset in part by an
increase in usage by residential customers through the second quarter of 2021;
Normal weather for the remainder of the year in our electric and natural gas service territories;
•
A consolidated income tax rate of approximately (2.5%) to +2.5% of pre-tax income; and
Diluted shares outstanding of approximately 51.5 million to 51.8 million.
Continued investment in our system to serve our customers and communities is expected to provide
annualized 4% -5% growth in rate base and a targeted long-term earnings per share growth rate of 3% - 6%.
Maintaining our 60% - 70% targeted dividend payout ratio, we anticipate the dividend growth rate to be in line
with the EPS growth rate going forward.
See "Non-GAAP Financial Measures" slide in appendix for "Non-GAAP Adjusted EPS".
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