National Fuel Gas Q4 adjusted EPS flat year over year; completes Ohio gas utility acquisition
NFG•National Fuel Gas reported fiscal fourth-quarter adjusted EPS of $1.22, flat year over year, and GAAP EPS of $1.02, down from $1.18. It completed an Ohio gas utility acquisition and forecast fiscal 2027 adjusted EPS of $6.00 to $6.40.
1. Quarterly results
National Fuel Gas reported fiscal fourth-quarter adjusted EPS of $1.22, unchanged from a year earlier. GAAP EPS fell to $1.02 from $1.18, and net income was $97.51 million.
2. Acquisition and outlook
The company completed its acquisition of an Ohio gas utility and plans to spin off its upstream business. It expects fiscal 2027 adjusted EPS of $6.00 to $6.40, while its Integrated Upstream and Gathering segment expects production of 400 to 435 Bcf. Utility and Pipeline & Storage segment earnings are expected to increase in 2027, supported by acquisitions and new projects.
3. Earnings drivers
Higher realized natural gas prices after hedging contributed to increased adjusted earnings in the Integrated Upstream and Gathering segment, while lower production volumes partially offset the gains. Utility segment earnings benefited from higher customer margin driven by usage, a New York rate settlement and a Pennsylvania improvement charge.
