National Fuel Gas Q2 adjusted EPS rises but trims 2026 profit outlook

National Fuel Gas

29/04/2026 21:54

Overview

US natural gas utility and producer's fiscal Q2 adjusted EPS rose 13% from prior year

Company revised fiscal 2026 adjusted EPS guidance downward, citing lower gas price assumptions

Higher realized gas prices boosted results, but production volumes fell due to weather delays

Outlook

Company lowers FY 2026 adjusted EPS guidance to $7.45-$7.75

Company now assumes NYMEX natural gas price will average $3.00 per MMBtu for remainder of FY 2026

Integrated Upstream and Gathering FY 2026 production expected at 425-440 Bcf, down from prior guidance

Result Drivers

HIGHER REALIZED GAS PRICES - Co said a 17% increase in realized natural gas prices drove adjusted earnings growth in Integrated Upstream and Gathering segment

LOWER PRODUCTION VOLUMES - Co said weather-driven completion delays and typical declines on producing wells led to a 3% decrease in natural gas production

UTILITY RATE INCREASES - Higher customer margin in Utility segment attributed to new rates in New York and system improvement charges in Pennsylvania

Company press release: ID:nGNXbw9d5m

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q2 EPS
$2.59
Q2 Net Income
$247.67 mln


Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 3 "strong buy" or "buy", 2 "hold" and no "sell" or "strong sell"

The average consensus recommendation for the natural gas utilities peer group is "buy"

Wall Street's median 12-month price target for National Fuel Gas Co is $106.00, about 20.4% above its April 29 closing price of $88.07

The stock recently traded at 11 times the next 12-month earnings vs. a P/E of 10 three months ago

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)