NYSE$UNG
US Natural Gas · Q1 2026 earnings
Q1 2026 earnings ·
Briefing
United States Natural Gas Fund reported Q1 2026 net income of $109.7M on natural gas futures NAV performance.
UNG, a natural gas commodity ETF, reported Q1 2026 net income of $109.7 million versus $208.8 million a year ago as fund NAV moved with Henry Hub futures. Per-share metrics reflect creation/redemption activity; the trust is not an operating company.
- Net income $109.7M (fund level).
- Weighted avg LP shares 41.1M.
- NAV driven by natural gas prices.
- Total expenses $1.5M.
- Commodity ETF structure.
Headline financials
Revenue & EPS history
US Natural Gas · Revenue · Quarterly
$4.08M
Forward guidance
Outlook follows natural gas supply/demand and weather; no corporate EPS guidance.
Tailwinds
- Liquid NG futures exposure.
- Lower expenses vs. some peers.
Headwinds
- NAV volatility.
- Contango roll costs over time.
- Not operating earnings quality.
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 Q1 2026
+0.5%
Avg return
Earnings day
+0.4%
Avg return
5 days after
+0.6%
Avg return
30 days after
53%
16 / 30 earnings
Positive
+6.1%
Q1 2024
Best reaction
-8.0%
Q1 2022
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -1.0% | +2.8% | +9.2% | |
| Q3 2025 | -1.6% | +3.4% | +15.5% | |
| Q2 2025 | -2.4% | -8.4% | -4.4% | |
| Q1 2025 | +5.0% | -3.7% | -4.9% | |
| Q3 2024 | -1.0% | +11.5% | +5.6% | |
| Q2 2024 | +2.3% | +3.4% | +3.3% | |
| Q1 2024 | +6.1% | +7.6% | +26.5% | |
| Q3 2023 | -3.1% | -7.2% | -25.7% | |
| Q2 2023 | +1.0% | +15.8% | +2.5% | |
| Q1 2023 | +5.8% | +7.6% | +3.6% | |
| Q3 2022 | +4.2% | -8.0% | -14.8% | |
| Q2 2022 | -2.1% | +0.8% | +9.0% | |
| Q1 2022 | -8.0% | -12.4% | -3.8% | |
| Q3 2021 | -1.4% | -13.9% | -30.0% | |
| Q2 2021 | -0.8% | -2.5% | +12.5% | |
| Q1 2021 | +0.6% | +1.4% | +3.4% | |
| Q3 2020 | -1.3% | +3.5% | -16.6% | |
| Q2 2020 | +4.7% | +0.0% | +13.5% | |
| Q1 2020 | -4.0% | -13.9% | -15.5% | |
| Q3 2019 | +0.0% | -4.5% | -18.2% | |
| Q2 2019 | +1.7% | +3.1% | +19.0% | |
| Q1 2019 | -0.6% | +1.8% | -11.1% | |
| Q3 2018 | +0.9% | +15.3% | +27.3% | |
| Q2 2018 | +1.6% | +1.3% | -4.0% | |
| Q1 2018 | +2.6% | +3.7% | +5.3% | |
| Q3 2017 | +4.2% | +8.0% | -5.6% | |
| Q2 2017 | +0.8% | +7.0% | +6.7% | |
| Q1 2017 | +2.0% | +2.4% | -8.4% | |
| Q3 2016 | +1.6% | -5.5% | +20.6% | |
| Q2 2016 | -2.4% | -9.0% | -2.8% |
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