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National Fuel Gas (NFG) Q3 Earnings: How Key Metrics Compare to Wall Street Estimates

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For the quarter ended June 2026, National Fuel Gas (NFG - Free Report) reported revenue of $537.5 million, up 1.1% over the same period last year. EPS came in at $1.54, compared to $1.64 in the year-ago quarter.

The reported revenue represents a surprise of -4.77% over the Zacks Consensus Estimate of $564.39 million. With the consensus EPS estimate being $1.47, the EPS surprise was +4.76%.

While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.

Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.

Here is how National Fuel Gas performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
  • Total Production - Gas: 104,285.00 MMcf versus 108,554.60 MMcf estimated by two analysts on average.
  • Weighted Average Prices (Per Mcf) before Hedging - Gas: $2.25 versus $2.19 estimated by two analysts on average.
  • Total Production: 104,285.00 MMcfe compared to the 108,554.60 MMcfe average estimate based on two analysts.
  • Revenue from External Customers- Utility: $165.42 million versus the three-analyst average estimate of $160.76 million. The reported number represents a year-over-year change of +5.1%.
  • Revenue from External Customers- Pipeline and Storage: $69.56 million versus the three-analyst average estimate of $67.79 million. The reported number represents a year-over-year change of +2.3%.
  • Total Operating Revenues- Utility: $165.5 million versus the two-analyst average estimate of $160.21 million. The reported number represents a year-over-year change of +5.1%.
  • Total Operating Revenues- Pipeline and Storage: $106.54 million compared to the $105.85 million average estimate based on two analysts. The reported number represents a change of +51.1% year over year.
  • Intersegment Revenues- Pipeline and Storage: $36.98 million compared to the $37.67 million average estimate based on two analysts. The reported number represents a change of -1.6% year over year.
  • Operating Income- Pipeline and Storage: $47.28 million compared to the $44.23 million average estimate based on two analysts.
  • Operating Income (Loss)- Corporate: $-12.85 million versus the two-analyst average estimate of $-5.53 million.
  • Operating Income- Utility: $9.06 million compared to the $3.7 million average estimate based on two analysts.

View all Key Company Metrics for National Fuel Gas here>>>

Shares of National Fuel Gas have returned +5.4% over the past month versus the Zacks S&P 500 composite's +1.9% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.

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