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National Fuel Gas Company (NFG)
NYSE:NFG
Earnings Data
Report Date
Apr 30, 2026After Close (Confirmed)
Period Ending
2026 (Q2)Consensus EPS Forecast
2.63Last Year’s EPS
2.39Same Quarter Last Year
Based on 4 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call highlighted strong operational execution (production up 12%, adjusted EBITDA +29%), reaffirmed guidance, improved capital efficiency (~30% since 2023), progress on strategic pipeline projects, and well-advanced financing and regulatory work for the Ohio acquisition. The major risks discussed were significant short-term natural gas price volatility, some near-term acquisition-related costs and dilution, and modest regulatory/cash-flow impacts from Ohio’s final order. On balance, the positive operational and financial developments, the hedging posture, and the secured equity financing outweigh the highlighted headwinds.Company Guidance
First Quarter Earnings in Line with Expectations
Adjusted EPS of $2.06 for Q1, reported as right in line with company expectations and setting a solid foundation for the fiscal year.
Strong Upstream Performance and EBITDA Growth
Integrated Upstream & Gathering delivered a 29% increase in adjusted EBITDA year-over-year, driven by higher production and natural gas prices.
Production Growth
Net production of 109 Bcf in Q1, a 12% increase versus Q1 fiscal 2025; fiscal '26 production guidance reaffirmed at 440–455 Bcf.
Capital Efficiency Improvements
Capital efficiency is on track for a ~30% improvement since 2023, with lower capital spend paired with production growth; fiscal '26 capital guidance reaffirmed at $560–$610 million.
Hedge and Risk Management Positioning
Hedge book provides downside protection on ~70% of remaining production; approximately 80 Bcf of collars with a weighted average floor of $3.60 and cap of $4.75, and upside exposure on >50% of remaining production.
Affirmed Full-Year EPS Guidance and Growth Outlook
Reaffirmed fiscal '26 adjusted EPS guidance range of $7.60–$8.10 (midpoint $7.85); company projects fiscal '26 adjusted EPS to grow ~14% over last year.
Pipeline Projects Progressing
Tioga Pathway received FERC notice to proceed and will begin tree clearing; Shippingport Lateral received all required permits and remains on track for late-2026 in-service—additional expansion interest across systems noted.
Utility Regulatory and Rate Developments
Pennsylvania utility filed for an approximate $20 million rate increase (if approved, customer bills would rise ~11%); New York utility is in year 2 of a 3-year settlement providing rate stability.
Strategic Acquisition Financing Secured
Completed a $350 million private placement of common stock in December to satisfy equity needs for the CenterPoint Ohio LDC acquisition; transaction remains on track to close in Q4 calendar 2026.
Balance Sheet and Capital Plan
Management expects to approach ~1.75x net debt-to-EBITDA exiting fiscal '26 and to fund remaining acquisition-related financing with approximately $1.5 billion of long-term debt issuance; confidence in achieving the low end of the 2.5–3.0x net debt-to-EBITDA target within the first year post-close.
Commercial and Sustainability Win
Executed a 10-year agreement to provide 250,000 MMBtu/day of MiQ-certified methane reduction certificates to a European utility, reinforcing leadership in responsibly sourced gas.
Firm Transportation Capacity Expansion
Total firm transportation capacity expected to grow from 1.0 Bcf/day to 1.5 Bcf/day over the next few years via interstate pipeline projects and capacity releases, supporting future production growth and market access.
NFG Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
NFG Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
Jan 28, 2026 | $83.09 | $84.00 | +1.10% |
Nov 05, 2025 | $79.40 | $77.99 | -1.78% |
Jul 31, 2025 | $86.29 | $86.15 | -0.16% |
Apr 30, 2025 | $75.86 | $78.25 | +3.15% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does National Fuel Gas Company (NFG) report earnings?
National Fuel Gas Company (NFG) is schdueled to report earning on Apr 30, 2026, After Close (Confirmed).
What is National Fuel Gas Company (NFG) earnings time?
National Fuel Gas Company (NFG) earnings time is at Apr 30, 2026, After Close (Confirmed).
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is NFG EPS forecast?
NFG EPS forecast for the fiscal quarter 2026 (Q2) is 2.63.