NATIONAL FUEL GAS CONFGEarnings & Financial Report
National Fuel Gas Company is a diversified energy company with $6.2 billion in assets distributed among the following five operating segments: Exploration and Production, Pipeline and Storage, Gathering, Utility, and Energy Marketing. National Fuel Gas was incorporated in 1902 and is based in Williamsville, New York.
Revenue
$338.6M
Gross Profit
$333.7M
Operating Profit
$-51.4M
Net Profit
$-54.2M
Gross Margin
98.5%
Operating Margin
-15.2%
Net Margin
-16.0%
YoY Growth
-8.4%
EPS
$-0.59
NATIONAL FUEL GAS CO Q3 FY2024 Financial Summary
NATIONAL FUEL GAS CO reported revenue of $338.6M (down 8.4% YoY) for Q3 FY2024, with a net profit of $-54.2M (down 158.5% YoY) (-16.0% margin). Cost of goods sold was $5.0M, operating expenses totaled $385.1M.
Key Financial Metrics
| Total Revenue | $338.6M |
|---|---|
| Net Profit | $-54.2M |
| Gross Margin | 98.5% |
| Operating Margin | -15.2% |
| Report Period | Q3 FY2024 |
Revenue Breakdown
NATIONAL FUEL GAS CO Q3 FY2024 revenue of $338.6M breaks down across 6 segments, led by Natural Gas Residential Sales at $89.0M (26.3% of total).
| Segment | Revenue | % of Total |
|---|---|---|
| Natural Gas Residential Sales | $89.0M | 26.3% |
| Oil And Gas Service | $79.6M | 23.5% |
| Other | $73.0M | 21.6% |
| Natural Gas Midstream | $60.1M | 17.8% |
| Natural Gas Storage | $24.6M | 7.3% |
| Natural Gas Commercial Sales | $11.0M | 3.3% |
NATIONAL FUEL GAS CO Revenue by Segment — Quarterly Trend
NATIONAL FUEL GAS CO revenue by segment across the last 4 reported quarters, showing how each business line (such as Natural Gas Residential Sales and Oil And Gas Service) has evolved quarter over quarter.
| Segment | Q1 FY2026 | Q4 FY2025 | Q3 FY2025 | Q2 FY2025 |
|---|---|---|---|---|
| Natural Gas Residential Sales | $198.0M | $65.0M | — | — |
| Oil And Gas Service | — | $80.3M | $80.2M | $82.5M |
| Other | $4.1M | — | — | $18.0M |
| Natural Gas Midstream | $2.8M | — | $67.9M | $65.0M |
| Natural Gas Storage | $25.1M | $25.0M | $25.0M | $25.3M |
NATIONAL FUEL GAS CO Annual Revenue by Year
NATIONAL FUEL GAS CO annual revenue history includes year-by-year totals (for example, 2025 revenue was $2.2B).
| Year | Annual Revenue |
|---|---|
| 2025 | $2.2B |
| 2024 | $1.7B |
| 2023 | $2.3B |
| 2022 | $2.2B |
NATIONAL FUEL GAS CO Quarterly Revenue & Net Profit History
NATIONAL FUEL GAS CO results over the last 8 reported quarters, including revenue, net profit and year-over-year growth.
| Quarter | Revenue | Revenue YoY | Net Profit | Net Margin |
|---|---|---|---|---|
| Q1 FY2026 | $637.9M | +24.1% | $181.6M | 28.5% |
| Q4 FY2025 | $443.1M | +42.9% | $107.3M | 24.2% |
| Q3 FY2025 | $527.4M | +55.7% | $149.8M | 28.4% |
| Q2 FY2025 | $734.8M | +31.5% | $216.4M | 29.4% |
| Q1 FY2025 | $513.8M | +2.8% | $45.0M | 8.8% |
| Q4 FY2024 | $310.0M | -8.0% | $-167.6M | -54.1% |
| Q3 FY2024 | $338.6M | -8.4% | $-54.2M | -16.0% |
| Q2 FY2024 | $558.7M | -23.8% | $166.3M | 29.8% |
Income Statement
| Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | Q1 2026 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | $558.7M | $338.6M | $310.0M | $513.8M | $734.8M | $527.4M | $443.1M | $637.9M |
| YoY Growth | -23.8% | -8.4% | -8.0% | 2.8% | 31.5% | 55.7% | 42.9% | 24.1% |
Balance Sheet
| Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | Q1 2026 | |
|---|---|---|---|---|---|---|---|---|
| Assets | $8.68B | $8.48B | $8.32B | $8.30B | $8.48B | $8.45B | $8.72B | $9.21B |
| Liabilities | $8.60B | $8.48B | $8.34B | $8.38B | $5.71B | $5.47B | $5.62B | N/A |
| Equity | $75.3M | $5.0M | $-15.5M | $-76.2M | $2.77B | $2.98B | $3.09B | $3.59B |
Cash Flow
| Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | Q1 2026 | |
|---|---|---|---|---|---|---|---|---|
| Operating CF | $315.3M | $281.8M | $197.9M | $220.1M | $253.8M | $388.4M | $237.8M | $274.9M |