NorthWestern Lifts Guidance On Accounting Change
Stock quotes in this article:
NWE
SIOUX FALLS, S.D. (AP) Energy company Northwestern Corp. said late Wednesday that it is raising its 2009 earnings guidance to reflect a switch to an accounting method that allows it to deduct repairs that would have previously been capitalized.
The Sioux Falls, S.D., company, which does business as NorthWestern Energy, said it expects to earn between $1.95 and $2.05 per share in 2009, an increase from its previous estimate of $1.75 to $1.85 per share. Analysts polled by Thomson Reuters are looking for a 2009 profit of $1.74 per share. NorthWestern said it expects continued relatively flat residential demand and reduced commercial and industrial demand during the remainder of 2009. The company said third-quarter profit increased by 41 percent, spurred mostly by a tax benefit. NorthWestern Corp. shares fell 11 cents to $23.80 in morning trading.- Loading Comments...
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