---
schema_version: "secwatch.filing_event.v1"
accession: "0001171200-25-000124"
form_type: "8-K"
ticker: "UNG"
cik: "0001376227"
company_name: "United States Natural Gas Fund, LP"
filed_at: "2025-03-26T23:59:59+00:00"
generated_at: "2026-05-24T04:49:51.315232+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# UNG releases annual financials for 2024: net income $65.1M, turnaround from loss

## Summary
- Net income of $65.1M (EPS $1.25) vs net loss of $671.3M (EPS -$17.87) in 2023.
- Partners' capital fell to $743.8M from $973.9M; NAV per share dropped to $16.85 from $20.36.
- Realized losses on futures improved to $47.7M from $762.9M; realized gains on swaps of $58.4M vs loss.
- Fund experienced net redemptions: 115.8M shares redeemed for $1.98B, outstanding shares fell to 44.1M.
- Operating cash flow turned positive at $47.5M vs -$865.0M in 2023.

## SEC filing metadata
- accession: 0001171200-25-000124
- form_type: 8-K
- ticker: UNG
- cik: 0001376227
- company_name: United States Natural Gas Fund, LP
- filed_at: 2025-03-26T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1376227/000117120025000124/0001171200-25-000124-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1376227/000117120025000124/i25117_ung-8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001171200-25-000124
- JSON: https://secwatch.observer/filing/0001171200-25-000124.json
- Plain text: https://secwatch.observer/filing/0001171200-25-000124.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.