NYSE$NFG
National Fuel Gas Company · Q4 2025 earnings
Q4 2025 earnings · · After market close · Investor relations
Briefing
National Fuel reported fiscal Q4 2025 GAAP EPS of $1.18 and adjusted EPS of $1.22.
Fourth-quarter adjusted earnings per share rose 58% to $1.22 as Appalachian production and regulated utility performance improved. GAAP EPS was $1.18 versus a loss of $1.84 a year ago. Management introduced fiscal 2026 adjusted EPS guidance of $7.60–$8.10.
- Fiscal Q4 adjusted EPS $1.22 (+58% YoY).
- GAAP EPS $1.18 vs $(1.84) prior year.
- FY26 adjusted EPS guide $7.60–$8.10.
- CenterPoint Ohio utility acquisition targeted for calendar Q4 2026.
Headline financials
Revenue & EPS history
National Fuel · Revenue · Quarterly
$368M
Revenue by segment
National Fuel · $364M total across 3 segments · Q4 2023
- Exploration & Production$220M-12.6%60.5%
- Utility$78.9M-29.7%21.7%
- Pipeline & Storage$64.8M-5.8%17.8%
Forward guidance
National Fuel introduced fiscal 2026 adjusted EPS guidance of $7.60–$8.10 assuming NYMEX gas of $3.75/MMBtu.
Tailwinds
- FY26 adjusted EPS guide $7.60–$8.10.
- 55th consecutive dividend increase to $2.14 annual rate.
- Tioga Pathway and Shippingport pipeline projects progressing.
Headwinds
- NYMEX sensitivity: $3.00 gas implies $6.55–$7.05 EPS.
- Ohio utility acquisition not in FY26 guide until close.
- Commodity price volatility remains a swing factor.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q4 2025
+0.2%
Avg return
Earnings day
+0.9%
Avg return
5 days after
+2.2%
Avg return
30 days after
62%
42 / 68 earnings
Positive
+6.5%
Q2 2011
Best reaction
-10.4%
Q1 2018
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q2 2026 | -3.8% | -3.4% | -8.4% | |
| Q1 2026 | +1.1% | +0.2% | +8.4% | |
| Q4 2025 | -1.8% | +0.9% | +3.0% | |
| Q2 2025 | +3.2% | +6.9% | +7.5% | |
| Q1 2025 | +2.7% | +5.8% | +9.8% | |
| Q4 2024 | -2.7% | +1.6% | +0.8% | |
| Q3 2024 | +1.2% | -2.1% | +2.2% | |
| Q2 2024 | +3.1% | +4.7% | +7.6% | |
| Q1 2024 | +5.8% | +5.2% | +10.2% | |
| Q4 2023 | +4.2% | +3.7% | +1.1% | |
| Q3 2023 | +2.1% | +3.9% | +2.8% | |
| Q2 2023 | +1.4% | +3.2% | +0.8% | |
| Q1 2023 | +4.4% | +2.9% | +2.8% | |
| Q4 2022 | -4.5% | -2.2% | -3.2% | |
| Q3 2022 | +0.4% | -0.8% | -0.6% | |
| Q2 2022 | -4.5% | -9.3% | +0.5% | |
| Q1 2022 | -5.0% | -3.9% | +5.0% | |
| Q4 2021 | +2.8% | +2.8% | +4.9% | |
| Q3 2021 | +2.4% | +1.9% | +1.3% | |
| Q2 2021 | +4.1% | +4.0% | +6.1% | |
| Q1 2021 | +4.1% | +5.8% | +21.0% | |
| Q4 2020 | -6.6% | +0.5% | +2.0% | |
| Q3 2020 | +4.8% | +4.0% | +4.8% | |
| Q2 2020 | -7.3% | -8.9% | -3.7% | |
| Q1 2020 | +2.0% | +2.2% | -13.5% | |
| Q4 2019 | +0.3% | +1.8% | -0.7% | |
| Q3 2019 | +2.3% | +0.3% | -2.1% | |
| Q2 2019 | -1.2% | -3.0% | -9.5% | |
| Q1 2019 | +2.5% | +2.3% | +4.8% | |
| Q4 2018 | -5.7% | -0.7% | -0.8% | |
| Q3 2018 | +0.5% | +4.9% | +5.1% | |
| Q2 2018 | +1.7% | -1.2% | +1.7% | |
| Q1 2018 | -10.4% | -10.7% | -10.2% | |
| Q4 2017 | -1.1% | +0.3% | +1.7% | |
| Q3 2017 | +1.0% | +0.2% | +0.3% | |
| Q2 2017 | +1.5% | +2.8% | +2.9% | |
| Q1 2017 | +5.0% | +5.2% | +9.1% | |
| Q4 2016 | -1.7% | +2.3% | +8.5% | |
| Q3 2016 | -0.1% | +0.3% | +3.7% | |
| Q2 2016 | +2.4% | — | — | |
| Q1 2016 | -2.3% | — | — | |
| Q4 2015 | -6.4% | — | — | |
| Q3 2015 | -0.1% | — | — | |
| Q2 2015 | +1.8% | — | — | |
| Q1 2015 | -4.3% | — | — | |
| Q4 2014 | +1.9% | — | — | |
| Q3 2014 | +3.6% | — | — | |
| Q2 2014 | -0.0% | — | — | |
| Q1 2014 | +1.2% | — | — | |
| Q4 2013 | -2.7% | — | — | |
| Q3 2013 | +1.5% | — | — | |
| Q2 2013 | -0.2% | — | — | |
| Q1 2013 | -0.6% | — | — | |
| Q4 2012 | +0.6% | — | — | |
| Q3 2012 | -2.2% | — | — | |
| Q2 2012 | +1.4% | — | — | |
| Q1 2012 | -1.3% | — | — | |
| Q4 2008 | -4.0% | — | — | |
| Q4 2011 | -4.0% | — | — | |
| Q3 2011 | +4.6% | — | — | |
| Q2 2011 | +6.5% | — | — | |
| Q1 2010 | +0.8% | — | — | |
| Q1 2011 | +1.8% | — | — | |
| Q4 2010 | +0.6% | — | — | |
| Q2 2010 | +0.6% | — | — | |
| Q4 2009 | +0.7% | — | — | |
| Q3 2010 | +0.7% | — | — | |
| Q3 2009 | +0.7% | — | — |
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