National Fuel Gas ( (NFG) ) has released its Q4 earnings. Here is a breakdown of the information National Fuel Gas presented to its investors.
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National Fuel Gas Company, a prominent player in the energy sector, is engaged in the exploration, production, and distribution of natural gas, with operations spanning integrated upstream and gathering, pipeline and storage, and utility segments. The company recently released its earnings report for the fourth quarter and full fiscal year 2025, showcasing significant financial improvements and strategic advancements.
In the fourth quarter of fiscal 2025, National Fuel reported a notable turnaround with GAAP earnings per share of $1.18, compared to a net loss of $1.84 per share in the previous year. Adjusted earnings per share also saw a substantial increase of 58% to $1.22. Key highlights include the acquisition of CenterPoint Energy’s Ohio natural gas utility, expected to double the utility segment rate base, and the filing of an application for the Shippingport Lateral Project, which aims to enhance pipeline capacity and generate additional revenue.
The fiscal year 2025 results were equally impressive, with GAAP earnings per share rising to $5.68 from $0.84 in fiscal 2024. Adjusted earnings per share increased by 38% to $6.91. The company achieved record natural gas production of 426 Bcf, a 9% increase, while reducing capital expenditures by 6%. Additionally, National Fuel announced its 55th consecutive dividend increase, reflecting its commitment to returning value to shareholders.
Looking ahead, National Fuel’s management remains optimistic, with a strong growth outlook driven by strategic acquisitions and ongoing projects. The company has provided guidance for fiscal 2026, anticipating adjusted earnings per share in the range of $7.60 to $8.10, supported by favorable natural gas price assumptions and continued operational excellence.
Overall, National Fuel Gas Company appears well-positioned to capitalize on its strategic initiatives and deliver sustained value to shareholders, leveraging its robust asset base and operational efficiencies in the evolving energy landscape.

