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National Fuel Gas NFG PENNSYLVANIA — Requested base rate increase

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Other financials

Income statement

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Revenue$537.5M+1.1%
Gross profit$507.6M+0.7%
Operating income$208.9M-9.3%
Net income$138.6M-7.5%
EPS (diluted)$1.45-11.6%

Balance sheet

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Cash & equivalents$1.2B+3,042%
Total debt$3.6B+46.0%
Total equity$3.9B+31.9%
Total assets$10.5B+23.7%

Cash flow

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Operating cash flow$377.3M-2.9%
CapEx$266.2M+37.9%
Free cash flow$111.0M-43.2%

Valuation

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Market cap$7.65B-3.6%
Enterprise value$9.99B-3.5%
P/E11.3×
P/S3.1×-0.6×

Profitability

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Gross margin87.7%-2.6pp
Operating margin40.3%
Net margin26.9%
FCF margin7.1%

Returns & leverage

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Return on equity19.6%
Debt / equity0.9×+0.1×
Current ratio3.2×+2.7×

Where this comes from

Reported directly by National Fuel Gas in its filing.

Tagged under the XBRL concept us-gaap:PublicUtilitiesRequestedRateIncreaseDecreaseAmount.

The source filing: National Fuel Gas’s 10-Q, filed July 30, 2026.

Filed
Jul 30, 2026, 11:54 AM EDT
Fiscal quarter
Q4 FY2026
Calendar quarter
Q3 2026
Accession
0000070145-26-000033

On January 28, 2026, Distribution Corporation made a filing with the PaPUC seeking an increase in its annual base rate operating revenues of $19.7 million with a proposed effective date of March 29, 2026. The Company is proposing, among other things, a new residential energy efficiency pilot program and to make permanent its weather normalization adjustment mechanism. The Company is also proposing reactivation of the OPEB surcredit (Rider I) to refund $7.2 million for customer bill relief. As reflected in a February 19, 2026 PaPUC Order, the filing was suspended until October 29, 2026 by operation of law unless directed otherwise by the PaPUC. Final briefs were submitted in the case on July 1, 2026. A decision is generally anticipated from the administrative law judge in August 2026.

Item 1. Financial Statements (Unaudited)

FAQ

What is National Fuel Gas's PENNSYLVANIA — requested base rate increase?
National Fuel Gas (NFG) reported PENNSYLVANIA — requested base rate increase of $19.7M in Q1 2026.
What does PENNSYLVANIA — requested base rate increase mean?
This represents the total revenue increase sought by the utility from regulators to cover rising operational costs, infrastructure maintenance, and capital expenditures. It serves as a leading indicator of the company's regulatory strategy and the potential for future revenue growth. Investors monitor this to gauge the gap between current earnings and the company's required return on rate base.

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