Highest-materiality recent filing
National Fuel Gas receives PUCO approval for $2.62B Vectren Ohio acquisition
PUCO issued order accepting/approving the $2.62B acquisition of Vectren Energy Delivery of Ohio on June 24, 2026, subject to conditions.
National Fuel Gas issues $1.5B of notes: 4.75% due 2029, 5.05% due 2031, 5.50% due 2036
$1.5B total: $500M 4.75% notes due 2029, $500M 5.05% notes due 2031, $500M 5.50% notes due 2036.
NFG files financials for $2.62B CenterPoint Ohio acquisition; close expected Q4 2026
Purchase price $2.62B: $1.42B cash at close + $1.2B 364-day seller promissory note.
National Fuel Q2 FY2026: adj. EPS $2.71 (+13% YoY); guidance revised to $7.45-$7.75
GAAP EPS $2.59 vs $2.37 prior year; adjusted EPS $2.71, up 13% YoY.
National Fuel Q1 fiscal 2026 GAAP EPS $1.98, adjusted EPS $2.06 (up 24% YoY)
GAAP earnings $181.6M ($1.98/share) vs $45.0M ($0.49) prior year; adjusted earnings $187.7M ($2.06/share) vs $151.9M ($1.66).
National Fuel raises $350M in private placement to fund Ohio gas utility acquisition
Gross proceeds of $350M from sale of 4.4M shares at $79.50/share; closing expected Dec 17, 2025.
Q4 adj EPS $1.22 (+58% YoY); GAAP EPS $1.18 vs prior-year loss $1.84.
NFG amends credit facilities for $1.2B seller note to fund Vectren Ohio acquisition
On Oct 20, NFG agreed to acquire all equity of Vectren Energy Delivery of Ohio from CenterPoint Energy Resources.
National Fuel to acquire CenterPoint's Ohio gas utility Vectren Energy for $2.62B
Purchase price $2.62B cash-free, debt-free; ~1.6x estimated 2026 rate base of $1.6B.
National Fuel Q3 adjusted EPS $1.64, up 66%; FY2026 prelim guidance up ~20%
GAAP EPS $1.64 vs $(0.59) loss; adjusted EPS $1.64 vs $0.99, up 66%.
National Fuel reports Q2 GAAP EPS $2.37, adj. EPS $2.39; raises FY25 guidance
GAAP net income $216M ($2.37/sh) vs $166M ($1.80/sh) prior year; adjusted operating results $218M ($2.39/sh), up 34% per share.
National Fuel Gas issues $1.0B in notes: $500M 5.50% due 2030 and $500M 5.95% due 2035
Issued $500M of 5.50% notes due 2030 and $500M of 5.95% notes due 2035.
GAAP net income $45.0M ($0.49 EPS) vs $133.0M ($1.44) prior year; includes $141.8M pre-tax ceiling-test impairment.
National Fuel Q4 GAAP loss $167.6M on impairment; guides FY25 EPS $5.50-$6.00
GAAP net loss $167.6M ($1.84/share) in Q4; adjusted operating results $70.5M ($0.77/share) vs $72.2M prior year.
Joint Proposal filed Sept 9, 2024 for 3-year NY rate settlement; pending NY PSC approval.
GAAP net loss of $54.2M ($0.59/sh) vs net income of $92.6M ($1.00/sh) a year ago; includes $145M after-tax impairment.
National Fuel Q2 GAAP EPS $1.80 (+18% YoY); FY2024 guidance $4.75-$5.05
GAAP net income $166.3M ($1.80 EPS) vs $140.9M ($1.53 EPS) prior year.
National Fuel authorizes $200M share buyback; dividend held at $0.495
Board authorizes $200M share repurchase program, targeting completion by end of fiscal 2025.
National Fuel Q1 GAAP EPS $1.44 vs $1.84 YoY; FY guidance cut to $4.90-$5.20
GAAP net income $133.0M ($1.44/sh) vs $169.7M ($1.84/sh) prior year; adjusted $135.2M ($1.46/sh).
NFG awards performance shares with ESG, ROC, TSR goals to named executive officers
ESG performance shares: CEO Bauer (3,638), CFO Silverstein (529), others; vest based on methane intensity & GHG reductions by 2026.
National Fuel Q4 EPS $0.80 vs $1.71 prior year; FY 2024 guidance $5.40-$5.90
Q4 GAAP net income $73.7M ($0.80 diluted) from $158.1M ($1.71) prior year; adjusted EPS $0.78 vs $1.19.
National Fuel Q3 adjusted EPS $1.01 vs $1.54 YoY; FY24 guide midpoint $5.75
GAAP net income $92.6M ($1.00/diluted share) vs $108.2M ($1.17) in prior-year quarter.
National Fuel Gas closes $300M 5.50% notes due 2026 offering
$300M aggregate principal of 5.50% notes due 2026 issued.
National Fuel Q2 EPS $1.53 vs $1.82 YoY; cuts FY guide to $5.10-$5.40; buys PA assets for $127M
GAAP EPS $1.53, adjusted $1.54 per share; net income $140.9M vs $167.3M prior year.
As previously disclosed by the Company, Ms. DeCarolis will be succeeded as President of Distribution Corporation by Michael D. Colpoys, effective July 1, 2025.
As previously disclosed by the Company, Ms. DeCarolis has determined to retire from employment with the Company on July 1, 2025 (the “Retirement Date”).
On March 31, 2025, Donna L. DeCarolis, President of National Fuel Gas Distribution Corporation, provided notice to National Fuel Gas Company of her intention to retire, effective July 1, 2025.
On October 21, 2024, Ronald C. Kraemer, Chief Operating Officer of National Fuel Gas Company (the “Company”) and President of the Company’s pipeline and storage subsidiaries, National Fuel Gas Supply Corporation and Empire Pipeline, Inc., provided notice to the Company of his intention to retire, effective February 1, 2025.
Ms. Camiolo will be succeeded as Treasurer and Principal Financial Officer of the Company by Timothy J. Silverstein, effective May 1, 2023
Ms. Camiolo has determined to retire from employment with Distribution Corporation on May 1, 2023
Max materiality 0.95 · Median 0.55 · Most common event other_material