National Fuel Gas Company Reports $149.8 Million Net Income in Latest Quarter

National Fuel Gas Company reported significant financial improvements in its latest quarterly results, with net income reaching $149.8 million for the quarter ended June 30, 2025, compared to a net loss of $54.2 million for the same period in 2024. This turnaround is attributed to increased revenues across its segments, particularly in Exploration and Production, which saw a substantial rise in earnings due to higher natural gas production and prices. For the nine months ending June 30, 2025, the company reported net income of $411.2 million, up from $245.1 million in the prior year, reflecting a $166.1 million increase.

Operating revenues for the quarter totaled $531.8 million, a 27.4% increase from $417.4 million in the previous year. The Exploration and Production segment alone generated $303.9 million in revenues, up from $220.9 million, driven by a 15.1 Bcf increase in natural gas production and a rise in average prices. The Utility segment also contributed to the revenue growth, with utility revenues increasing to $157.4 million from $124.9 million, largely due to new base delivery rates and increased retail gas sales.

In terms of operational metrics, the company reported a total of 90,363,646 shares outstanding as of July 30, 2025. The company has been actively managing its capital structure, with a focus on share repurchases. During the nine months ended June 30, 2025, National Fuel repurchased 828,720 shares at an average price of $64.37 per share, totaling approximately $53.8 million. The share repurchase program, authorized for up to $200 million, is expected to continue into 2026, depending on market conditions.

Strategically, National Fuel is pursuing several expansion projects, including the Tioga Pathway Project, which aims to transport 190,000 Dth per day of shale gas supplies. The project received regulatory approval from FERC and is expected to commence construction in early 2026. Additionally, the company is working on the Shippingport Lateral Project to provide natural gas transportation to a new power generation facility in Pennsylvania, with an estimated cost of $57 million.

Looking ahead, National Fuel Gas Company anticipates continued growth driven by its strategic initiatives and favorable market conditions. The company expects to maintain adequate cash flow to meet its operational and capital needs, despite potential challenges from inflation and regulatory changes. The management remains optimistic about the future, emphasizing the importance of its diversified operations and ongoing investments in infrastructure to support long-term growth.