The earnings call was predominantly positive, highlighting strong financial performance, strategic growth initiatives, and significant improvements in capital efficiency. The expansion of core inventory and strategic acquisition further bolster future growth prospects. However, concerns about increased debt due to the acquisition and volatility in natural gas prices introduce some risks.

Company Guidance

During the National Fuel Gas Company's fourth quarter and full fiscal year 2025 earnings call, the company provided several key metrics and guidance updates. Notably, the company reported an adjusted earnings per share (EPS) of $1.22 for the fourth quarter, marking a 58% year-over-year increase. The fiscal year 2025 closed with a consolidated adjusted EPS growth of 38% over fiscal 2024. The company emphasized its capital efficiency, achieving a 20% production increase while reducing overall capital spending by 15%. Looking ahead to fiscal 2026, the company projected an adjusted EPS range of $7.60 to $8.10, based on a NYMEX price assumption of $3.75, and expected free cash flow generation between $300 million and $350 million. Moreover, the company announced a significant expansion of its Tioga County inventory, adding approximately 220 prospective well locations in the Upper Utica formation, effectively doubling its inventory in the area. The company also outlined plans for a rate base growth strategy, including a potential acquisition of CenterPoint's Ohio Gas utility, anticipated to close in the fourth quarter of calendar 2026.

Record Adjusted Earnings Per Share

National Fuel reported adjusted earnings per share of $1.22 for the fourth quarter, reflecting a 58% increase from the previous year. For the full fiscal year, adjusted earnings per share rose by 38% compared to fiscal 2024.

Significant Production Growth

The Upstream and Gathering businesses achieved a 21% increase in production from the prior year, with a total annual production of 427 Bcfe, exceeding the high end of guidance.

Capital Efficiency Improvements

Since mid-2023, production increased by approximately 20% while reducing overall capital spending by 15%. The company achieved a 30% improvement in capital efficiency since 2023.

Expansion of Core Inventory

National Fuel announced a significant expansion of their Tioga County inventory, adding approximately 220 prospective well locations in the Upper Utica formation. This nearly doubles their inventory in the EDA.

Strategic Acquisition

Announced a definitive agreement with CenterPoint to acquire their Ohio Gas LDC, doubling the utility rate base and providing significant growth opportunities.

National Fuel Gas Company (NFG) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

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NFG Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Jan 29, 2026	2026 (Q1)	1.96 / -	1.66	―	―	―
Nov 05, 2025	2025 (Q4)	1.11 / 1.22	0.77	58.44% (+0.45)
Jul 31, 2025	2025 (Q3)	1.52 / 1.64	0.99	65.66% (+0.65)
Apr 30, 2025	2025 (Q2)	2.21 / 2.39	1.79	33.52% (+0.60)
Jan 29, 2025	2025 (Q1)	1.53 / 1.66	1.46	13.70% (+0.20)
Nov 06, 2024	2024 (Q4)	0.82 / 0.77	0.78	-1.28% (-0.01)
Jul 31, 2024	2024 (Q3)	0.96 / 0.99	1.01	-1.98% (-0.02)
May 01, 2024	2024 (Q2)	1.51 / 1.79	1.54	16.23% (+0.25)
Feb 07, 2024	2024 (Q1)	1.33 / 1.46	1.84	-20.65% (-0.38)
Nov 01, 2023	2023 (Q4)	0.84 / 0.78	1.19	-34.45% (-0.41)

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
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%
Jan 29, 2025	$67.20	$69.02	+2.71%

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 Jan 29, 2026, After Close (Confirmed).

What is National Fuel Gas Company (NFG) earnings time?

National Fuel Gas Company (NFG) earnings time is at Jan 29, 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 (Q1) is 1.96.

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