We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
National Fuel Gas (NFG) Q4 Earnings & Revenues Lag Estimates
Read MoreHide Full Article
National Fuel Gas Company (NFG - Free Report) posted fourth-quarter fiscal 2022 adjusted operating earnings of $1.19 per share, lagging the Zacks Consensus Estimate of $1.26 by 5.6%. The bottom line improved 25.3% from the year-ago figure of 95 cents per share.
GAAP earnings for the reported quarter were $1.71 per share, up 80% from the year-ago figure of 95 cents.
Fiscal 2022 adjusted earnings per share were $5.88, up 37.1% year over year. The fiscal earnings of NFG were within the guided range of $5.85-$5.95 per share.
Total Revenues
Total revenues of $435 million missed the Zacks Consensus Estimate of $494 million by 11.9%.
The top line improved however 22.2% from the prior-year figure of $356 million. The year-over-year rise was primarily due to higher contributions from National Fuel Gas’ utility, energy marketing, exploration, production, pipeline and storage segments.
Fiscal 2022 revenues were $2,186.1 million, up 25.4% year over year.
National Fuel Gas Company Price, Consensus and EPS Surprise
Total operating expenses for the reported quarter increased 15.1% from the year-ago level to $257.1 million due to price hikes in purchased gas and operating and maintenance expenses.
The operating income for the reported quarter was up 34.4% year over year to $177.8 million.
NFG incurred interest expenses of $30.2 million, up 0.3% from the year-ago figure of $30.1 million.
Financial Highlights
As of Sep 30, 2022, National Fuel Gas had cash and temporary cash investments of $46.1 million compared with $31.5 million as of Sep 30, 2021.
The long-term debt (excluding current maturities) was $2,083.4 million as of Sep 30, 2022 compared with the Sep 30, 2021 level of $2,628.7 million.
The company’s net cash provided by operating activities for fiscal 2022 was $812.5 million, up from $791.6 million recorded in the year-ago period.
Total capital expenditures for fiscal 2022 were $811.8 million compared with $751.7 million in the year-ago period.
Guidance
National Fuel Gas lowered its fiscal 2023 earnings guidance to the range of $6.40-$6.90 per share from the earlier range of $7.25-$7.75 per share. The Zacks Consensus Estimate is pegged at $7.44 per share.
NFG reiterated its consolidated capital expenditures for fiscal 2023 in the range of $830-$940 million. NFG continues to expect fiscal 2023 production guidance in the range of 370-390 billion cubic feet equivalent (Bcfe).
Pinnacle West Capital Corporation (PNW - Free Report) reported third-quarter 2022 operating earnings per share of $2.88, which surpassed the Zacks Consensus Estimate of $2.62 by 9.9%.
The Zacks Consensus Estimate for the fourth quarter is pegged at a loss of 23 cents per share, suggesting a decline of 195.8% from the year-ago quarter.
MDU Resources Group Inc. (MDU - Free Report) reported third-quarter 2022 operating earnings per share of 75 cents, which surpassed the Zacks Consensus Estimate of 69 cents by 8.7%.
The Zacks Consensus Estimate for MDU’s fourth-quarter earnings is pegged at 51 cents per share, suggesting an increase of 21.4% from the year-ago quarter.
Evergy, Inc. (EVRG - Free Report) reported third-quarter 2022 operating earnings of $2.01 per share, which surpassed the Zacks Consensus Estimate of $1.89 by 6.3%.
The Zacks Consensus Estimate for EVRG’s 2022 earnings is pegged at $3.59 per share, suggesting an increase of 1.4% from the year-ago quarter.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
National Fuel Gas (NFG) Q4 Earnings & Revenues Lag Estimates
National Fuel Gas Company (NFG - Free Report) posted fourth-quarter fiscal 2022 adjusted operating earnings of $1.19 per share, lagging the Zacks Consensus Estimate of $1.26 by 5.6%. The bottom line improved 25.3% from the year-ago figure of 95 cents per share.
GAAP earnings for the reported quarter were $1.71 per share, up 80% from the year-ago figure of 95 cents.
Fiscal 2022 adjusted earnings per share were $5.88, up 37.1% year over year. The fiscal earnings of NFG were within the guided range of $5.85-$5.95 per share.
Total Revenues
Total revenues of $435 million missed the Zacks Consensus Estimate of $494 million by 11.9%.
The top line improved however 22.2% from the prior-year figure of $356 million. The year-over-year rise was primarily due to higher contributions from National Fuel Gas’ utility, energy marketing, exploration, production, pipeline and storage segments.
Fiscal 2022 revenues were $2,186.1 million, up 25.4% year over year.
National Fuel Gas Company Price, Consensus and EPS Surprise
National Fuel Gas Company price-consensus-eps-surprise-chart | National Fuel Gas Company Quote
Highlights of the Release
Total operating expenses for the reported quarter increased 15.1% from the year-ago level to $257.1 million due to price hikes in purchased gas and operating and maintenance expenses.
The operating income for the reported quarter was up 34.4% year over year to $177.8 million.
NFG incurred interest expenses of $30.2 million, up 0.3% from the year-ago figure of $30.1 million.
Financial Highlights
As of Sep 30, 2022, National Fuel Gas had cash and temporary cash investments of $46.1 million compared with $31.5 million as of Sep 30, 2021.
The long-term debt (excluding current maturities) was $2,083.4 million as of Sep 30, 2022 compared with the Sep 30, 2021 level of $2,628.7 million.
The company’s net cash provided by operating activities for fiscal 2022 was $812.5 million, up from $791.6 million recorded in the year-ago period.
Total capital expenditures for fiscal 2022 were $811.8 million compared with $751.7 million in the year-ago period.
Guidance
National Fuel Gas lowered its fiscal 2023 earnings guidance to the range of $6.40-$6.90 per share from the earlier range of $7.25-$7.75 per share. The Zacks Consensus Estimate is pegged at $7.44 per share.
NFG reiterated its consolidated capital expenditures for fiscal 2023 in the range of $830-$940 million. NFG continues to expect fiscal 2023 production guidance in the range of 370-390 billion cubic feet equivalent (Bcfe).
Zacks Rank
National Fuel Gas currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Other Releases
Pinnacle West Capital Corporation (PNW - Free Report) reported third-quarter 2022 operating earnings per share of $2.88, which surpassed the Zacks Consensus Estimate of $2.62 by 9.9%.
The Zacks Consensus Estimate for the fourth quarter is pegged at a loss of 23 cents per share, suggesting a decline of 195.8% from the year-ago quarter.
MDU Resources Group Inc. (MDU - Free Report) reported third-quarter 2022 operating earnings per share of 75 cents, which surpassed the Zacks Consensus Estimate of 69 cents by 8.7%.
The Zacks Consensus Estimate for MDU’s fourth-quarter earnings is pegged at 51 cents per share, suggesting an increase of 21.4% from the year-ago quarter.
Evergy, Inc. (EVRG - Free Report) reported third-quarter 2022 operating earnings of $2.01 per share, which surpassed the Zacks Consensus Estimate of $1.89 by 6.3%.
The Zacks Consensus Estimate for EVRG’s 2022 earnings is pegged at $3.59 per share, suggesting an increase of 1.4% from the year-ago quarter.