National Fuel reports Q1 EPS $1.84, up 28%; cuts FY23 guidance to $5.35-$5.75 on lower gas prices

NATIONAL FUEL GAS CO

2023-Q1 EPS reported $1.84 revenue$658,859,000

GAAP net income $169.7M ($1.84/diluted share) vs $132.4M ($1.44) year ago, up 28% per share.
Adjusted operating results $1.84/share, up 24% from $1.48; adjusted EBITDA $351M, +18%.
E&P segment: Appalachian production 90.6 Bcfe (+11% YoY); avg realized gas price $3.02/Mcf (+$0.50).
Fiscal 2023 EPS guidance revised to $5.35-$5.75, down $1.10 from prior midpoint due to lower NYMEX price assumption ($3.25/MMBtu vs prior $5.17).
Pipeline & Storage segment EBITDA $64.5M (+13%); Gathering EBITDA $46.7M (+6%); Utility EBITDA $51.6M (-1%).

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

NATIONAL FUEL GAS CO reported the quarter ended December 31, 2022 results: net income $169.7 million, EPS $1.84 per share. Guidance lowered.

Period: the quarter ended December 31, 2022
Net income: $169.7 million
EPS: $1.84 per share
Guidance: lowered
Result: reported results

Exact text from the filing

GAAP net income of $169.7 million, or $1.84 per share, compared to GAAP net income of $132.4 million, or $1.44 per share, in the prior year, an increase of 28% per share.

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Source: SEC EDGAR

accession 0000070145-23-000007

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