National Fuel Gas Q1 EPS Beats by 7.9%, Production up 12%
National Fuel Gas reported Q1 adjusted earnings of $2.06 per share, a 7.9% beat over estimates and a 24.1% year-over-year increase. Revenues rose 18.6% to $651.5 million with production up 12% and FY2026 guidance unchanged, while shares have climbed 6% since the release.
1. Q1 Earnings Performance
National Fuel Gas delivered Q1 adjusted operating EPS of $2.06, beating estimates by 7.9% and up 24.1% year over year, while GAAP EPS rose to $1.98 from $0.49, reflecting strong bottom-line improvement.
2. Revenue Growth and Production
Total revenues climbed 18.6% to $651.5 million, driven by a 13.4% rise in utility sales, 28.1% growth in upstream and gathering, and a 0.6% increase in pipeline and storage; Seneca production reached 109 Bcf, up 12%.
3. Guidance and Financial Position
The company reiterated full-year 2026 adjusted EPS guidance of $7.60–$8.10, expects $0.96–$1.07 billion in capital expenditures and 440–455 Bcf of production, and holds $271.4 million in cash with $274.9 million of operating cash flow.