National Fuel Gas Q3 Earnings Beat, Sales Decline Y/Y
National Fuel Gas Company (NYSE: NFG) reported third-quarter fiscal 2024 adjusted operating earnings of 99 cents per share, which surpassed the Zacks Consensus Estimate of 92 cents by 7.6%. However, the bottom line decreased 2% from the year-ago quarter’s reported figure of $1.01.
GAAP earnings for the quarter were 59 cents per share, down 41% from the year-ago level of $1.00.
Total Revenues
NFG reported sales of $417.4 million, which missed the Zacks Consensus Estimate of $528 million by 20.9%. The top line also declined 2.6% from the prior-year recorded figure of $428.7 million.
National Fuel Gas Company Price, Consensus and EPS Surprise
National Fuel Gas Company price-consensus-eps-surprise-chart | National Fuel Gas Company Quote
Segmental Revenues
Utility: Revenues totaled $124.8 million, down 13.6% from $144.5 million in the year-ago quarter.
Exploration and Production and Other Revenues: Revenues totaled $220.9 million, up 2% from $216.6 million in the year-ago quarter.
Pipeline and Storage and Gathering: Revenues amounted to $71.7 million, implying a 6.1% increase from $67.6 million recorded in the year-ago quarter.
Highlights of the Release
Total operating …
Full story available on Benzinga.com