National Fuel Gas fourth quarter 2026 adjusted EPS flat at $1.22 with 2027 guidance initiated

National Fuel Gas Company reported fourth quarter fiscal 2026 adjusted EPS of $1.22, remaining flat year-over-year despite significant strategic shifts. The company successfully expanded its regulated footprint via a utility acquisition in Ohio and confirmed plans to structurally separate its upstream business by late 2027.

Key Highlights

• Completed the acquisition of CenterPoint Energy's Ohio natural gas utility on October 1, 2026, which doubled the company's Utility rate base and added approximately 335,000 customers.
• Formally announced a structural spin-off of the Integrated Upstream and Gathering (IUG) business into a new entity named Seneca Resources, targeted for completion in the second half of 2027.
• Initiated fiscal 2027 adjusted EPS guidance of $6.00 to $6.40, assuming a natural gas price of $2.85 per MMBtu.
• Reported Seneca Resources natural gas production of 104 Bcf for the quarter, a 7% decrease year-over-year as production from new wells was offset by field declines.