Overview * Utility firm NorthWestern's Q3 2025 revenue beats analyst expectations, reaching $387 mln * Adjusted EPS for Q3 2025 beats consensus, rising to $0.79 from $0.65 last year Outlook * NorthWestern affirms 2025 EPS guidance of $3.53 to $3.65 per share * Company maintains long-term EPS growth rate of 4% to 6% * NorthWestern affirms $2.7 bln capital investment plan for 2025-2029 Result Drivers * OPERATING EXPENSES – Higher operating expenses, including merger-related costs * RETAIL VOLUMES – Favorable weather and customer growth increased electric and natural gas retail volumes * NEW RATES – New rates and customer usage supported adjusted EPS growth Key Details Metric Beat/Mis Actual Consensu s s Estimate Q3 Beat $387 mln $376 mln Revenue (3 Analysts ) Q3 Beat $0.79 $0.74 (6 Adjusted

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