NorthWestern Energy (NWE) Operating Expenses (2022 - 2026)

NorthWestern Energy (NWE) has 5 years of Operating Expenses data on file, last reported at $383.5 million in Q1 2026.

• For the quarter ending Q1 2026, Operating Expenses rose 12.15% year-over-year to $383.5 million; the trailing twelve-month figure through Mar 2026 stood at $1.3 billion (up 14.41% YoY), and the FY2025 full-year result was $1.3 billion, up 7.91% from the prior year.
• Operating Expenses for Q1 2026 stood at $383.5 million, up from $354.2 million in the prior quarter.
• Across five years, Operating Expenses topped out at $383.5 million in Q1 2026 and bottomed at $244.9 million in Q2 2023.
• The 5-year median for Operating Expenses is $286.8 million (2022), against an average of $307.3 million.
• The widest annual swing landed in 2023, when Operating Expenses fell 26.08%; it then climbed 25.72% in 2025.
• A 5-year view of Operating Expenses shows it stood at $342.1 million in 2022, then dropped by 26.08% to $252.8 million in 2023, then increased by 11.44% to $281.8 million in 2024, then gained by 25.72% to $354.2 million in 2025, then gained by 8.25% to $383.5 million in 2026.
• The last three Operating Expenses figures came in at $383.5 million (Q1 2026), $354.2 million (Q4 2025), and $306.7 million (Q3 2025), per Business Quant data.

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