NorthWestern Energy (NWE) Operating Expenses (2022 - 2026)
NorthWestern Energy's (NWE) quarterly Operating Expenses came in at $328.4 million in Q2 2026, up 16.47% YoY from $281.9 million in Q2 2025, and down 14.37% on a QoQ basis from $383.5 million in Q1 2026.
NorthWestern Energy (NWE) Operating Expenses (2022 - 2026) Analysis & Trends
NorthWestern Energy (NWE) has 5 years of Operating Expenses data on file, last reported at $328.4 million in Q2 2026.
- Quarterly Operating Expenses rose 16.47% year-over-year to $328.4 million in Q2 2026, while the trailing twelve-month figure through Jun 2026 was $1.4 billion (up 16.05% YoY) and the FY2025 annual result came in at $1.3 billion, up 7.91% from the prior year.
- Operating Expenses declined to $328.4 million in Q2 2026, from $383.5 million in the prior quarter.
- In the past five years, Operating Expenses ranged from a high of $383.5 million in Q1 2026 to a low of $244.9 million in Q2 2023.
- A 5-year average of $308.6 million and a median of $296.7 million in 2022 frame the typical range for Operating Expenses.
- Annual changes were most pronounced in 2023 — Operating Expenses fell 26.08% — and 2025, when it climbed 25.72%.
- Tracing NWE's Operating Expenses over 5 years: 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 retreated by 7.31% to $328.4 million in 2026.
- The last three Operating Expenses figures came in at $328.4 million (Q2 2026), $383.5 million (Q1 2026), and $354.2 million (Q4 2025), per Business Quant data.
Powered by 
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | National Grid | 79.78 Bn | 75.97 Bn | - | - |
| 2 | Dominion Energy | 59.31 Bn | 58.52 Bn | 3.50 Bn | 4.15 Bn |
| 3 | Xcel Energy | 49.23 Bn | 47.22 Bn | 3.12 Bn | 2.41 Bn |
| 4 | Wec Energy | 35.31 Bn | 35.26 Bn | 1.45 Bn | 1.63 Bn |
| 5 | Ameren | 30.14 Bn | 30.13 Bn | - | 1.63 Bn |
| 6 | Edison International | 28.79 Bn | 28.54 Bn | 3.29 Bn | 3.27 Bn |
| 7 | Fortis | 28.70 Bn | 28.70 Bn | 1.60 Bn | 1.54 Bn |
| 8 | Firstenergy | 27.31 Bn | 27.12 Bn | 2.51 Bn | 3.00 Bn |
| 9 | Hydro One | 24.05 Bn | 23.66 Bn | - | - |
| 10 | NorthWestern Energy | 4.35 Bn | 4.35 Bn | 302.78 Mn | 328.35 Mn |
Historic Data
Download Data| Date | Value |
|---|---|
| Jun 30, 2026 | 328.35 Mn |
| Mar 31, 2026 | 383.46 Mn |
| Dec 31, 2025 | 354.24 Mn |
| Sep 30, 2025 | 306.67 Mn |
| Jun 30, 2025 | 281.93 Mn |
| Mar 31, 2025 | 341.90 Mn |
| Dec 31, 2024 | 281.77 Mn |
| Sep 30, 2024 | 277.23 Mn |
| Jun 30, 2024 | 258.32 Mn |
| Mar 31, 2024 | 373.26 Mn |
| Dec 31, 2023 | 252.85 Mn |
| Sep 30, 2023 | 265.46 Mn |
| Jun 30, 2023 | 244.88 Mn |
| Mar 31, 2023 | 358.50 Mn |
| Dec 31, 2022 | 342.06 Mn |
| Sep 30, 2022 | 286.77 Mn |