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

NorthWestern Energy has reported Operating Expenses for 5 years, with the latest figure 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.
• The five-year high for Operating Expenses was $383.5 million in Q1 2026, with the low at $244.9 million in Q2 2023.
• Historically, Operating Expenses has averaged $307.3 million across 5 years, with a median of $286.8 million in 2022.
• Annual changes were most pronounced in 2023 — Operating Expenses fell 26.08% — and 2025, when it climbed 25.72%.
• NorthWestern Energy's Operating Expenses stood at $342.1 million in 2022, then slipped by 26.08% to $252.8 million in 2023, then grew by 11.44% to $281.8 million in 2024, then rose by 25.72% to $354.2 million in 2025, then rose 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.