National Fuel Gas Reports Mixed Q3 Earnings, Revises Guidance

National Fuel Gas Company (NFG) recently reported its Q3 2026 earnings, revealing some mixed results. The company's adjusted earnings per share came in at $1.54, down from $1.64 in the prior year.

The operating revenues for the quarter were $537.5 million, a 1.1% increase over the previous year's third quarter. However, natural gas production took a hit, decreasing by 7% to 104.3 Bcf due to natural declines from existing wells offsetting new turn-in-line production.

Looking ahead, National Fuel Gas has revised its fiscal 2026 adjusted EPS guidance to $7.40 to $7.60 per share, down from the previous range of $7.45 to $7.75. The company also expects annual production to be between 420 Bcf and 430 Bcfe.

The long-term EPS growth target remains at 7% to 10% per year through fiscal 2029, assuming current natural gas price forward curves. Additionally, the company projects free cash flow of $1 billion to $1.5 billion over the next three years, which will be used for debt reduction and strategic investments.