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National Fuel Gas NFG Q3 2025 earnings

Reported July 30, 2025 · After market close

Revenue$531.8MMiss by $8.2MDiluted EPS$1.64Beat by $0.14
Revenue estimate$540.1M
EPS estimate$1.50

Next report

Jul 29, 2026 (in a month)
Revenue estimate$562.3M
EPS estimate$1.45

Financials

Q3 2025

Income statement

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Revenue$531.8M+27.4%
Gross profit$503.8M+22.1%
Operating income$230.3M+548%
Net income$149.8M+377%
EPS (diluted)$1.64+378%

Balance sheet

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Cash & equivalents$39.3M-51.7%
Total debt$2.4B-7.3%
Total equity$3.0B+58,821%
Total assets$8.4B-0.4%

Cash flow

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Operating cash flow$388.4M+37.9%
CapEx$193.1M-4.5%
Free cash flow$195.4M+146%

Valuation & ratios

Q3 2025

Valuation

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Market cap$7.72B+54.7%
Enterprise value$10.12B+34.1%
P/S3.5×+1.0×

Profitability

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Gross margin90.3%-1.7pp

Returns & leverage

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Debt / equity0.8×-521×
Current ratio0.5×-0.3×

Segments

By product

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Production of Natural Gas$300.1M+108%
Natural Gas Residential Sales$118.6M+33.2%
Natural Gas Transportation Service$75.0M+0.7%
Natural Gas Commercial Sales$15.3M+39.3%
Natural Gas Storage Service$14.4M+1.7%

Versus estimates

Revenue

Q2 2026$858.4MBeat by $1.8MQ1 2026$651.5MMiss by $2.3MQ4 2025$456.4MMiss by $57.1M
Q3 2025$531.8MMiss by $8.2M
Q2 2025$730.0MMiss by $44.6MQ1 2025$549.5MMiss by $87.7M

Diluted EPS

Q2 2026$2.71Miss by $0.14Q1 2026$2.06Beat by $0.15Q4 2025$1.22Beat by $0.11
Q3 2025$1.64Beat by $0.14
Q2 2025$2.39Beat by $0.21Q1 2025$1.66Beat by $0.09

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Questions, answered.

When did National Fuel Gas report Q3 2025 earnings?
National Fuel Gas (NFG) reported Q3 2025 earnings on July 30, 2025 after market close.
What were National Fuel Gas's Q3 2025 revenue and EPS?
National Fuel Gas reported revenue of $531.8M and diluted EPS of $1.64 for Q3 2025.
Did National Fuel Gas beat estimates in Q3 2025?
Revenue missed the consensus estimate of $540.1M by $8.2M. EPS beat the consensus estimate of $1.50 by $0.14.
How did National Fuel Gas's Q3 2025 results compare year-over-year?
Compared to the same quarter a year prior, revenue grew 27.4% from $417.4M a year earlier and diluted EPS grew 65.7% from $0.99.
Where can I find National Fuel Gas's Q3 2025 SEC filings?
You can read the 10-Q periodic report (0000070145-25-000030) directly on SEC EDGAR. The filing index links above go to sec.gov.