National Fuel Gas Company (“National Fuel” or the “Company”) (NYSE:NFG) today announced consolidated results for the fourth quarter and fiscal year ended September 30, 2026.
FOURTH QUARTER FISCAL 2026 SUMMARY
- GAAP earnings of $97.5 million, or earnings per share (EPS) of $1.02, compared to GAAP earnings of $107.3 million, or $1.18 per share, in the prior year.
- Adjusted EPS of $1.22, compared to $1.22 from the prior year. See non-GAAP reconciliation on page 2.
FISCAL 2026 HIGHLIGHTS
- GAAP earnings per share of $7.02, compared to $5.68 per share in fiscal 2025.
- Adjusted earnings per share of $7.55, an increase of 9%, compared to $6.91 per share in fiscal 2025.
- Net cash provided by operating activities of $1,272 million for the twelve months ending September 30, 2026, with free cash flow of $199 million (as defined on page 27) through the same period.
- The Company announced its 56th consecutive dividend increase to an annual rate of $2.22 per share, continuing its long history of returning cash to shareholders.
RECENT STRATEGIC HIGHLIGHTS
- Completed the acquisition of CenterPoint Energy’s Ohio natural gas utility on October 1, 2026, doubling the Company’s Utility rate base and adding approximately 335,000 utility customers.
- Announced a plan to separate the Company’s Integrated Upstream and Gathering business (“IUG”) into a standalone publicly traded company which is expected to be named Seneca Resources, with the transaction anticipated to occur in the second half of calendar 2027.
- The Utility segment realized key regulatory initiatives, with the approval of a System Modernization Tracker in New York, and the approval of a $10.4 million rate increase in the Company’s Pennsylvania jurisdiction.
- The Pipeline & Storage segment continued to successfully advance key expansion projects, placing the Tioga Pathway and Shippingport Lateral projects in service on November 1, 2026.
- IUG initiated a discretionary land acquisition program to further expand its best-in-class core inventory depth in Tioga County, adding significant acreage since the program commenced.