National Fuel Q2 EPS $1.53 vs $1.82 YoY; cuts FY guide to $5.10-$5.40; buys PA assets for $127M

NATIONAL FUEL GAS CO

2023-Q2 EPS reported $3.37 revenue$1,376,119,000

GAAP EPS $1.53, adjusted $1.54 per share; net income $140.9M vs $167.3M prior year.
Fiscal 2023 guidance revised to $5.10-$5.40 EPS (midpoint -$0.30) on lower NYMEX gas price assumption of $2.50/MMBtu.
Acquiring ~30,000 net acres in Tioga/Potter counties, PA from Southwestern Energy for $127M; expected close June 1, 2023.
E&P production 93.3 Bcfe, +7% YoY; Appalachian production up 12% to 93.2 Bcfe.
Year-to-date cash from operations $711M, up 67% from $426M; capex guidance reaffirmed at $525-$575M.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

NATIONAL FUEL GAS CO reported second quarter of its 2023 fiscal year and for the six months ended March 31, 2023 results: net income $140.9 million, or $1.53 per share. Guidance lowered.

Period: second quarter of its 2023 fiscal year and for the six months ended March 31, 2023
Net income: $140.9 million, or $1.53 per share
Guidance: lowered
Result: reported results

Exact text from the filing

National Fuel Gas Company (“National Fuel” or the “Company”) (NYSE:NFG) today announced consolidated results for the second quarter of its 2023 fiscal year and for the six months ended March 31, 2023.

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Source: SEC EDGAR

accession 0000070145-23-000014

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