National Fuel Gas beats Q3 earnings estimates but lowers full-year outlook

EarningsCorporate Action

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Summary · why it matters

National Fuel Gas Company reported third-quarter fiscal 2026 adjusted earnings of $1.54 per share, beating the Zacks Consensus Estimate of $1.47 by 4.8 percent, though earnings declined 6.1 percent from $1.64 a year ago. Total revenues rose 1.1 percent to $537.5 million, missing the consensus of $564 million, with utility revenues up 5.1 percent to $165.42 million, pipeline and storage up 2.3 percent to $69.56 million, and integrated upstream and gathering down 1.3 percent to $302.52 million. Operating income fell 9.3 percent to $208.9 million as total operating expenses increased 8.9 percent, and Seneca's natural gas production dropped 7 percent to 104.3 billion cubic feet. The company lowered its fiscal 2026 adjusted earnings guidance to a range of $7.40 to $7.60 per share from the prior $7.45 to $7.75, cut production guidance to 420 to 430 billion cubic feet, and raised capital expenditure guidance to $1 billion to $1.08 billion. National Fuel also completed financing for its $2.62 billion acquisition of CenterPoint Energy's Ohio natural gas utility, which is on track to close October 1, 2026, and increased its annual dividend by 4 percent to $2.22 per share.