National Fuel Gas Q3 adjusted EPS falls, lowers 2026 outlook

National Fuel Gas

29/07/2026 21:58

Overview
US natural gas utility's fiscal Q3 adjusted EPS fell yr/yr to $1.54
Company revised fiscal 2026 adjusted EPS guidance downward to $7.40-$7.60
Board approved 4% dividend increase to $2.22 annual rate

Outlook
National Fuel revises FY 2026 adjusted EPS guidance to $7.40-$7.60, down from $7.45-$7.75
Company raises FY 2026 Pipeline and Storage capex guidance to $235-$265 mln, citing faster project execution
National Fuel expects 7%-10% average annual EPS growth through FY 2029

Result Drivers
LOWER PRODUCTION VOLUMES - Integrated Upstream and Gathering segment earnings fell as lower natural gas production volumes outweighed higher realized prices and lower interest expense
HIGHER OPERATING COSTS - Increased lease operating and depreciation expenses contributed to higher per-unit operating costs in the Integrated Upstream and Gathering segment
INCREASED CUSTOMER MARGIN - Utility segment earnings rose due to higher customer margin from new rates in New York and system improvement charges in Pennsylvania

Company press release: ID:nGNX1qkqLq

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q3 EPS
 
$1.45
 
Q3 Net Income
 
$138.62 mln
 

Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 2 "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 $110.00, about 35.9% above its July 29 closing price of $80.94
The stock recently traded at 10 times the next 12-month earnings vs. a P/E of 12 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.)