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.
NFG Q1 FY2026 Key Financial Metrics
Revenue
$637.9M
Gross Profit
$552.3M
Operating Profit
$276.1M
Net Profit
$181.6M
Gross Margin
86.6%
Operating Margin
43.3%
Net Margin
28.5%
YoY Growth
24.1%
EPS
$1.98
NATIONAL FUEL GAS CO Q1 FY2026 Financial Summary
NATIONAL FUEL GAS CO reported revenue of $637.9M (up 24.1% YoY) for Q1 FY2026, with a net profit of $181.6M (up 303.8% YoY) (28.5% margin). Cost of goods sold was $85.6M, operating expenses totaled $276.1M.
Key Financial Metrics
| Total Revenue | $637.9M |
|---|---|
| Net Profit | $181.6M |
| Gross Margin | 86.6% |
| Operating Margin | 43.3% |
| Report Period | Q1 FY2026 |
Revenue Breakdown
NATIONAL FUEL GAS CO Q1 FY2026 revenue of $637.9M breaks down across 7 segments, led by Natural Gas Production at $302.5M (47.4% of total).
| Segment | Revenue | % of Total |
|---|---|---|
| Natural Gas Production | $302.5M | 47.4% |
| Natural Gas Residential Sales | $198.0M | 31.0% |
| Pipeline And Storage | $69.2M | 10.9% |
| Natural Gas Commercial Sales | $27.9M | 4.4% |
| Natural Gas Storage | $25.1M | 3.9% |
| Other | $4.1M | 0.6% |
| Natural Gas Midstream | $2.8M | 0.4% |
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 Production and Natural Gas Residential Sales) has evolved quarter over quarter.
| Segment | Q1 FY2026 | Q4 FY2025 | Q3 FY2025 | Q2 FY2025 |
|---|---|---|---|---|
| Natural Gas Production | $302.5M | $268.3M | — | $318.4M |
| Natural Gas Residential Sales | $198.0M | $65.0M | — | — |
| Pipeline And Storage | $69.2M | — | $105.6M | $109.6M |
| Natural Gas Commercial Sales | $27.9M | — | $15.3M | $39.6M |
| 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).
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 |