Quarterly ResultApr 30, 2026, 08:33 AM
NFG Q2 GAAP EPS $2.59, Adj. EPS $2.71 (+13%); FY26 Guidance Lowered
AI Summary
National Fuel Gas Company reported consolidated GAAP earnings of $247.7 million, or $2.59 per share, for Q2 fiscal 2026, with adjusted EPS increasing 13% to $2.71. The company generated $657 million in net cash from operating activities and $160 million in free cash flow year-to-date. NFG revised its fiscal 2026 adjusted EPS guidance range downwards to $7.45-$7.75, primarily due to lower natural gas price assumptions and modest production impacts from weather and well performance. Operational highlights include progress on pipeline expansion projects and a new capacity agreement.
Key Highlights
- Q2 GAAP EPS $2.59; Adjusted EPS $2.71, up 13% YoY.
- Net cash from operations $657M; free cash flow $160M YTD, up $111M.
- Integrated Upstream & Gathering adjusted EPS $1.67, up 21% on higher gas prices.
- Utility segment net income $65M, up 3% from system modernization.
- Revised FY2026 adjusted EPS guidance to $7.45-$7.75 (midpoint $7.60).
- FY2026 NYMEX natural gas price assumption lowered to $3.00/MMBtu.
- Supply Corp secured 94,000 dekatherms/day capacity for Line N System Upgrade.
- Tioga Pathway & Shippingport Lateral projects on track for late 2026 in-service.
Price Impact
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