National Fuel Gas Company (NFG)
NYSE:NFG
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Earnings Data
Report Date
Aug 05, 2026After Close (Confirmed)
Period Ending
2026 (Q3)Consensus EPS Forecast
1.51Last Year’s EPS
1.64Same Quarter Last Year
Strong Buy
Based on 4 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call conveyed a broadly positive operational and financial picture highlighted by double-digit EPS growth (Q2 EPS +13%), record segment EBITDA (> $300M), strong free cash flow (~$160M), successful pipeline expansions and long-term contracted capacity, promising Gen 4 well results, solid balance sheet metrics and proactive hedging. Offsetting items included a softer near-term macro (NYMEX lowered to $3.00), a modest 3% production guidance cut (midpoint) largely from weather and a handful of underperforming older-design wells, a one-time gathering O&M write-down, and emerging cost pressures that push capital toward the high end of guidance and necessitate sizable acquisition-related financing. Overall, highlights materially outweigh the lowlights, supporting a constructive outlook while noting near-term execution and pricing risks.Company Guidance
Adjusted EPS Growth and Record Quarter
Adjusted EPS of $2.71 in Q2, up 13% year-over-year; record second-quarter EPS and continuation of double-digit EPS growth supporting the multiyear >10% average annual growth target.
Strong Free Cash Flow Generation
Generated approximately $160 million in free cash flow in the quarter, providing capacity to fund the dividend, deleverage, and support the planned Ohio LDC acquisition financing.
Integrated Upstream & Gathering Performance
Segment delivered record EBITDA of >$300 million in Q2 with net production of 102 Bcf; price realizations rose by more than $0.50/Mcf (nearly +20%) driven by winter premium markets and hedging positioning.
Improving Well Designs and High-Performing Pads
Gen 4 and Upper Utica wells demonstrating strong productivity; two top Tioga Utica pads (Bauer and Taft) reached cumulative production of 130 Bcf and produced at rate-constrained levels of 25–30 MMcf/d, with one newer well tested at ~40 MMcf/d.
Pipeline & Storage Expansion Wins
Executed Line N system upgrade precedent agreement adding 94,000 dekatherms/day of long-term contracted capacity (investment-grade counterparty) with estimated capital of $93 million (in service late 2028); Shippingport Lateral and Tioga Pathway projects under construction on track for Nov 2026 in-service.
Regulatory and Utility Positioning
Filed a Supply Corp. FERC rate case seeking approximately $95 million increase to cost of service and a modernization tracker; delivery rates remain lowest in both states; New York 3-year rate plan on track through FY2027.
Hedging and Risk Management
Approximately 75% hedged for the remainder of the fiscal year (primarily swaps and fixed-price sales), limiting downside from a lower NYMEX assumption; spot exposure limited to ~30 Bcf at the midpoint of guidance.
Balance Sheet and Financing Flexibility
Expect to end FY below 2.0x debt/EBITDA and approach ~50% FFO-to-debt pre-acquisition; upsized committed credit facility to $1.3 billion; plan to raise up to $1.5 billion across tranches to finance Ohio LDC acquisition and refinance maturities.
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 |
|---|---|---|---|
Apr 30, 2026 | $84.38 | $82.98 | -1.66% |
Jan 28, 2026 | $82.62 | $83.53 | +1.09% |
Nov 05, 2025 | $78.43 | $77.04 | -1.78% |
Jul 31, 2025 | $85.24 | $85.10 | -0.16% |
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 Aug 05, 2026, After Close (Confirmed).
What is National Fuel Gas Company (NFG) earnings time?
National Fuel Gas Company (NFG) earnings time is at Aug 05, 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 (Q3) is 1.51.