National Fuel Gas management discussed fiscal Q3 2026 results with analysts on an earnings call attended by the CEO, CFO, and the heads of IR and Midstream/Seneca.
Adjusted EPS came in at $1.54; full-year adjusted EPS guidance narrowed to $7.40-$7.60 on a 420-430 Bcfe production outlook.
Long-term outlook lifted to 7%-10% average EPS growth through fiscal 2029, assuming the current gas forward curve; free cash flow seen at $1-$1.5 billion.
Line N System Upgrade expanded by 200,000 dekatherms/day to 294,000 dekatherms/day total; targeted in-service November 2028; incremental capacity contracted 20 years.
Ohio gas utility acquisition targeted for an October 1 close; $1.5 billion debt raise completed; buybacks not expected near term; leverage target set at 2-2.25.
NFG•
