National Fuel Gas Q4 Profit Rises; Cuts FY Profit View

(RTTNews) - National Fuel Gas Company (NFG) reported that its fourth quarter net income available for common stock rose to $158.1 million or $1.71 per share, from $87.0 million, or $0.95 per share, in the prior year.

Adjusted operating results of $109.3 million, or $1.19 per share, an increase of 25%, compared to $0.95 per share, in the prior year.

Operating revenues rose to $435.15 million from $356.00 in the prior year.

Analysts polled by Thomson Reuters expected the company to report earnings of $1.20 per share and revenues of $468.54 million for the quarter. Analysts' estimates typically exclude special items.

National Fuel revised its fiscal 2023 earnings guidance to reflect updated forecast assumptions and projections, including the impact of revised natural gas price expectations since the Company's preliminary guidance was announced in August 2022.

The company now projects annual earnings, excluding items impacting comparability, to be within the range of $6.40 to $6.90 per share, compared to the prior outlook of $7.25 to $7.75. Analysts expect annual earnings of $7.39 per share.