National Fuel Gas Q1 2025 Results Filed

TL;DR

NFG Q1 2025 10-Q filed. Utility, E&P, Pipeline segments detailed.

AI Summary

National Fuel Gas Company (NFG) filed its 10-Q for the quarter ending December 31, 2024. The company reported financial results across its segments, including Total Utility, Exploration and Production, and Pipeline and Storage. Specific financial figures for these segments during the first quarter of fiscal year 2025 and 2024 were detailed.

Why It Matters

This filing provides investors with the latest financial performance data for National Fuel Gas, crucial for understanding the company's operational health and future prospects in the energy sector.

Risk Assessment

Risk Level: low — This is a routine quarterly filing providing standard financial disclosures.

Key Numbers

• Q1 2025 — Fiscal Quarter (Reporting period for the 10-Q filing.)
• 2024-12-31 — Quarter End Date (Specific date for the financial period covered.)
• 2023-12-31 — Prior Year Quarter End Date (For comparative financial analysis.)

Key Players & Entities

• NATIONAL FUEL GAS CO (company) — Filer
• 2024-12-31 (date) — Conformed Period of Report
• 2025-01-30 (date) — Filed as of Date
• Williamsville, NY (location) — Business Address City and State

FAQ

Key Financial Figures

• $1.00 — ch Registered Common Stock, par value $1.00 per share NFG New York Stock Exchange

Filing Documents

• nfg-20241231.htm (10-Q) — 1505KB
• nfg-12312024xexhibit101.htm (EX-10.1) — 40KB
• nfg-12312024xexhibit102.htm (EX-10.2) — 41KB
• nfg-12312024xexhibit103.htm (EX-10.3) — 45KB
• nfg-12312024xexhibit311.htm (EX-31.1) — 9KB
• nfg-12312024xexhibit312.htm (EX-31.2) — 9KB
• nfg-12312024xexhibit32.htm (EX-32) — 6KB
• nfg-12312024xexhibit99.htm (EX-99) — 37KB
• 0000070145-25-000007.txt ( ) — 8513KB
• nfg-20241231.xsd (EX-101.SCH) — 50KB
• nfg-20241231_cal.xml (EX-101.CAL) — 72KB
• nfg-20241231_def.xml (EX-101.DEF) — 264KB
• nfg-20241231_lab.xml (EX-101.LAB) — 640KB
• nfg-20241231_pre.xml (EX-101.PRE) — 444KB
• nfg-20241231_htm.xml (XML) — 1497KB

Financial Information

Part I. Financial Information

Financial Statements (Unaudited)

Item 1. Financial Statements (Unaudited) 6 a. Consolidated Statements of Income and Earnings Reinvested in the Business - Three Months Ended December 3 1 , 2024 and 2023 6 b. Consolidated Statements of Comprehensive Income – Three Months Ended Dec e mber 3 1 , 2024 and 2023 7 c. Consolidated Balance Sheets – December 3 1 , 2024 and September 30, 20 24 8 d. Consolidated Statements of Cash Flows – Three Months Ended December 3 1 , 2024 and 2023 10 e. Notes to Condensed Consolidated Financial Statements 11

Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 25

Quantitative and Qualitative Disclosures About Market Risk

Item 3. Quantitative and Qualitative Disclosures About Market Risk 41

Controls and Procedures

Item 4. Controls and Procedures 42

Other Information

Part II. Other Information

Legal Proceedings

Item 1. Legal Proceedings 42

A. Risk Factors

Item 1 A. Risk Factors 42

Unregistered Sales of Equity Securities and Use of Proceeds

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 44

Defaults Upon Senior Securities

Item 3. Defaults Upon Senior Securities

Mine Safety Disclosures

Item 4. Mine Safety Disclosures

Other Information

Item 5. Other Information 45

Exhibits

Item 6. Exhibits 45

Signatures

Signatures 47 The Company has nothing to report under this item. All references to a certain year in this report are to the Company's fiscal year ended September 30 of that year, unless otherwise noted. 5 Table of Content

Financial Information

Part I. Financial Information

Financial Statements

Item 1. Financial Statements National Fuel Gas Company Consolidated Statements of Income and Earnings Reinvested in the Business (Unaudited) Three Months Ended December 31, (Thousands of U.S. Dollars, Except Per Common Share Amounts) 2024 2023 INCOME Operating Revenues: Utility Revenues $ 228,424 $ 201,920 Exploration and Production and Other Revenues 248,860 254,019 Pipeline and Storage and Gathering Revenues 72,198 69,422 549,482 525,361 Operating Expenses: Purchased Gas 65,337 56,552 Operation and Maintenance: Utility 55,244 53,705 Exploration and Production and Other 33,541 34,826 Pipeline and Storage and Gathering 35,941 34,962 Property, Franchise and Other Taxes 22,056 22,416 Depreciation, Depletion and Amortization 109,370 115,790 Impairment of Assets 141,802 — 463,291 318,251 Operating Income 86,191 207,110 Other Income (Expense): Other Income (Deductions) 7,720 3,732 Interest Expense on Long-Term Debt ( 33,362 ) ( 28,462 ) Other Interest Expense ( 4,381 ) ( 6,273 ) Income Before Income Taxes 56,168 176,107 Income Tax Expense 11,182 43,087 Net Income Available for Common Stock 44,986 133,020 EARNINGS REINVESTED IN THE BUSINESS Balance at Beginning of Period 1,727,326 1,885,856 1,772,312 2,018,876 Share Repurchases under Repurchase Plan ( 26,993 ) — Dividends on Common Stock ( 46,671 ) ( 45,597 ) Balance at December 31 $ 1,698,648 $ 1,973,279 Earnings Per Common Share: Basic: Net Income Available for Common Stock $ 0.50 $ 1.45 Diluted: Net Income Available for Common Stock $ 0.49 $ 1.44 Weighted Average Common Shares Outstanding: Used in Basic Calculation 90,777,446 91,910,244 Used in Diluted Calculation 91,434,741 92,442,145 Dividends Per Common Share: Dividends Declared $ 0.515 $ 0.495 See Notes to Condensed Consolidated Financial Statements 6 Table of Content National Fuel Gas Company Consolidated Statements of Comprehensive Income (Unaudited) Three Months Ended December 31, (Thousands of

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View this 10-Q filing on SEC EDGAR