NYSE$UNG

US Natural Gas · Q3 2025 earnings

Q3 2025 earnings ·

Briefing

United States Natural Gas Fund reported Q3 2025, net income of $30.5M.

For Q3 2025, United States Natural Gas Fund reported net income of $30.5M. Management discusses segment performance, capital allocation, and sector risks in the quarterly filing.

  • Net income $30.5M.
  • United States Natural Gas Fund MD&A covers liquidity, credit, and operating priorities.
  • United States Natural Gas Fund MD&A covers liquidity, credit, and operating priorities.

Headline financials

Total Revenue

$4.9M

Previous: $9.89M-50.4%
Free Cash Flow

-$55.9M

Previous: $1.91M-3032.9%
Net Income

-$55.9M

Previous: $1.91M-3032.9%
Operating Income

$2.07M

Previous: $5.45M-62.0%
Gross Profit

$4.9M

Previous: $9.89M-50.4%

Revenue & EPS history

US Natural Gas · Revenue · Quarterly

$4.9M

Q3 2025-50.4%vs Q3 2024

Forward guidance

Commodity ETF results reflect underlying futures and roll yield rather than operating earnings.

Tailwinds

  • Exposure to commodity price moves.
  • Portfolio roll and contango/backwardation.
  • Liquidity and tracking of benchmark.

Headwinds

  • Commodity volatility.
  • Contango can erode long-term returns.
  • Not a traditional operating business.

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 Q3 2025

Historical avgQ3 2025

+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

Earnings price reactions
QuarterReport dateReaction (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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