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What's in Store for National Fuel Gas (NFG) in Q4 Earnings?
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National Fuel Gas Co. (NFG - Free Report) is scheduled to release fiscal fourth-quarter 2023 results on Nov 1, after market close. The company delivered an earnings surprise of 12.2% in the last reported quarter.
Let’s discuss the factors that are likely to be reflected in the upcoming quarterly results.
Factors to Consider
Seneca continues to witness strong results from its development program, which has driven production to all-time highs. National Fuel Gas’ third-quarter earnings are likely to have benefited from an increase in natural gas output and higher gathering volumes at Midstream.
In the Downstream business, the Pennsylvania Utility Commission approved the settlement of its recent rate case. The settlement permits Distribution Corporation to enhance its annual base rate operating revenues by $23 million, which came into effect in August 2023. This is expected to have boosted NFG’s top line in the to-be-reported quarter.
The company’s third-quarter earnings are likely to have gained from decreasing Exploration & Production operating costs.
Q4 Expectations
The Zacks Consensus Estimate for earnings is pegged at 83 cents per share, indicating a year-over-year decrease of 30.3%.
The consensus mark for revenues is pinned at $446.01 million, implying a year-over-year improvement of 2.5%.
The Zacks Consensus Estimate for Gas total production is pinned at 93,190 million cubic feet (MMcf), up 6.1% year over year.
What Our Quantitative Model Predicts
Our proven model does not conclusively predict an earnings beat for National Fuel Gas this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. That is not the case here, as you will see below.
Earnings ESP: The company’s Earnings ESP is 0.00%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: Currently, National Fuel Gas carries a Zacks Rank #4 (Sell).
Stocks to Consider
Investors may consider the following players from the same sector as these have the right combination of elements to post an earnings beat this reporting cycle.
NiSource Inc. (NI - Free Report) is expected to come up with an earnings beat when it reports third-quarter results on Nov 1, before market open. It has an Earnings ESP of +18.52% and a Zacks Rank #2 at present. You can see the complete list of today's Zacks #1 Rank stocks here.
NI’s long-term (three to five years) earnings growth rate is 7%. The Zacks Consensus Estimate for earnings is pegged at 14 cents per share, indicating a year-over-year increase of 40%.
Consolidated Edison (ED - Free Report) is likely to report an earnings beat when it announces third-quarter results on Nov 2, after market close. It has an Earnings ESP of +3.93% and a Zacks Rank #2 at present.
ED’s long-term earnings growth rate is 2%. The Zacks Consensus Estimate for earnings is pegged at $1.58 per share.
Spire Inc. (SR - Free Report) is likely to come up with an earnings beat when it reports fiscal fourth-quarter results on Nov 16, before market open. It has an Earnings ESP of +4.58% and a Zacks Rank #3 at present.
SR’s long-term earnings growth rate is 4.22%. The Zacks Consensus Estimate for earnings is pegged at a loss of 66 cents per share.
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What's in Store for National Fuel Gas (NFG) in Q4 Earnings?
National Fuel Gas Co. (NFG - Free Report) is scheduled to release fiscal fourth-quarter 2023 results on Nov 1, after market close. The company delivered an earnings surprise of 12.2% in the last reported quarter.
Let’s discuss the factors that are likely to be reflected in the upcoming quarterly results.
Factors to Consider
Seneca continues to witness strong results from its development program, which has driven production to all-time highs. National Fuel Gas’ third-quarter earnings are likely to have benefited from an increase in natural gas output and higher gathering volumes at Midstream.
In the Downstream business, the Pennsylvania Utility Commission approved the settlement of its recent rate case. The settlement permits Distribution Corporation to enhance its annual base rate operating revenues by $23 million, which came into effect in August 2023. This is expected to have boosted NFG’s top line in the to-be-reported quarter.
The company’s third-quarter earnings are likely to have gained from decreasing Exploration & Production operating costs.
Q4 Expectations
The Zacks Consensus Estimate for earnings is pegged at 83 cents per share, indicating a year-over-year decrease of 30.3%.
The consensus mark for revenues is pinned at $446.01 million, implying a year-over-year improvement of 2.5%.
The Zacks Consensus Estimate for Gas total production is pinned at 93,190 million cubic feet (MMcf), up 6.1% year over year.
What Our Quantitative Model Predicts
Our proven model does not conclusively predict an earnings beat for National Fuel Gas this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. That is not the case here, as you will see below.
National Fuel Gas Company Price and EPS Surprise
National Fuel Gas Company price-eps-surprise | National Fuel Gas Company Quote
Earnings ESP: The company’s Earnings ESP is 0.00%.
You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: Currently, National Fuel Gas carries a Zacks Rank #4 (Sell).
Stocks to Consider
Investors may consider the following players from the same sector as these have the right combination of elements to post an earnings beat this reporting cycle.
NiSource Inc. (NI - Free Report) is expected to come up with an earnings beat when it reports third-quarter results on Nov 1, before market open. It has an Earnings ESP of +18.52% and a Zacks Rank #2 at present. You can see the complete list of today's Zacks #1 Rank stocks here.
NI’s long-term (three to five years) earnings growth rate is 7%. The Zacks Consensus Estimate for earnings is pegged at 14 cents per share, indicating a year-over-year increase of 40%.
Consolidated Edison (ED - Free Report) is likely to report an earnings beat when it announces third-quarter results on Nov 2, after market close. It has an Earnings ESP of +3.93% and a Zacks Rank #2 at present.
ED’s long-term earnings growth rate is 2%. The Zacks Consensus Estimate for earnings is pegged at $1.58 per share.
Spire Inc. (SR - Free Report) is likely to come up with an earnings beat when it reports fiscal fourth-quarter results on Nov 16, before market open. It has an Earnings ESP of +4.58% and a Zacks Rank #3 at present.
SR’s long-term earnings growth rate is 4.22%. The Zacks Consensus Estimate for earnings is pegged at a loss of 66 cents per share.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.