National Fuel Gas

Q3 FY2026 EarningsQ3 FY26 adjusted EPS of $1.54 exceeded the consensus of $1.44 by 7.1%, despite a slight revenue miss of 4.8%. The outperformance was primarily driven by the Integrated Upstream and Gathering segment, where strong hedging gains of $0.56/Mcf more than offset declining production volumes and lower NYMEX prices. While the company narrowed its FY26 adjusted EPS guidance to $7.40-$7.60, the long-term outlook remains robust with a projected 7-10% annual EPS growth through 2029, supported by the upcoming Ohio utility acquisition.