National Fuel Gas Company Reports First Quarter Earnings

National Fuel Gas Company (NYSE:NFG) has released its consolidated results for the first quarter of fiscal year 2025. The company announced a GAAP net income of $45.0 million or $0.49 per share, which reflects the impact of non-cash impairment charges in the Exploration & Production segment. This compares to GAAP net income of $133.0 million or $1.44 per share in the prior year.

Adjusted operating results for the quarter were $151.9 million or $1.66 per share, showing a 14% increase from the prior year. The Pipeline & Storage segment’s net income rose by $8.4 million, Utility segment net income increased by $5.9 million, and the E&P segment saw a 5% increase in adjusted operating results.

National Fuel also revealed that it repurchased $34 million of common stock during the quarter, with a total amount repurchased reaching $99 million under the $200 million share buyback program authorized in March 2024. The company is now increasing its guidance for fiscal 2025 adjusted earnings per share to a range of $6.50 to $7.00 due to higher forecasted natural gas prices and improvements across all segments.

David P. Bauer, President and CEO of National Fuel Gas Company, expressed satisfaction with the company’s performance, highlighting the positive contributions from each business segment. He particularly mentioned the growth outlook in regulated segments and the strong results in the EDA operations.

Looking ahead, the company is optimistic about its outlook, with expectations of rising free cash flow and enhanced value for shareholders. National Fuel revised its guidance to incorporate better-than-expected first-quarter results, anticipating a positive impact from higher natural gas prices and increased production in the Exploration and Production segment.

The company’s future guidance assumptions, detailed in the financial report, project improvements in Seneca’s well results and operational efficiencies in the Eastern Development Area. National Fuel also adjusted its capital expenditure guidance downward for Seneca and left other fiscal 2025 guidance assumptions largely intact.

National Fuel Gas Company, an integrated energy company, continues to focus on delivering value to its stakeholders across its various segments. For further details and in-depth financial information, interested parties are encouraged to visit the company’s official website.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read National Fuel Gas’s 8K filing here.

National Fuel Gas Company Profile

National Fuel Gas Company operates as a diversified energy company. It operates through four segments: Exploration and Production, Pipeline and Storage, Gathering, and Utility. The Exploration and Production segment explores for, develops, and produces natural gas and oil. The Pipeline and Storage segment provides interstate natural gas transportation services through an integrated gas pipeline system in Pennsylvania and New York; and owns and operates underground natural gas storage fields.