National Fuel Gas Company NFG reported fourth-quarter fiscal 2024 adjusted operating earnings of 77 cents per share, which missed the Zacks Consensus Estimate of 83 cents by 7.2%. The bottom line also decreased 1.3% from the year-ago quarter’s reported figure of 78 cents.

NFG reported fiscal 2024 earnings of $5.01 per share compared with $5.17 in fiscal 2023, reflecting a year-over-year decrease of 3.1%.

Stay up-to-date with all quarterly releases: See Zacks Earnings Calendar.

NFG’s Total Revenues
 

NFG reported sales of $372.1 million, which missed the Zacks Consensus Estimate of $482 million by 22.9%. However, the top line rose 0.8% from the prior-year recorded figure of $368.9 million.

NFG reported total revenues of $1.94 billion in fiscal 2024 compared with $2.17 billion in fiscal 2023, highlighting a year-over-year decrease of 10.5%.

NFG’s Segmental Revenues
 

Utility: Revenues in the fourth quarter of fiscal 2024 totaled $79.8 million, up 1.2% from $78.9 million in the year-ago quarter.

Pipeline and Storage and Gathering: Revenues amounted to $70.7 million, reflecting a 1.4% increase from $69.7 million in the year-ago quarter.

Exploration and Production and Other Revenues: Revenues in the fourth quarter of fiscal 2024 totaled $221.5 million, up 0.5% from $220.4 million in the year-ago quarter.

Highlights of NFG’s Q4 Release
 

Total operating expenses increased 133.4% to $568.6 million year over year. This was due to higher operation and maintenance expenses.

The operating loss was $196.6 million against an income of $125.3 million in the year-ago quarter.

Interest expenses totaled $33 million, up 16% from the year-ago figure of $28.5 million.

The Exploration & Production segment produced 91.9 billion cubic feet (Bcf) of natural gas, down 2% year over year. The company voluntarily curtailed 1.5 Bcf of production due to low in-basin pricing during the quarter.

NFG’s Financial Highlights
 

As of Sept. 30, 2024, National Fuel Gas had cash and temporary cash investments of $38.2 million compared with $55.4 million as of Sept. 30, 2023.

Net cash provided by operating activities for fiscal 2024 totaled $1.07 billion compared with $1.24 billion in the year-ago period.

Total capital expenditures in fiscal 2024 totaled $0.93 billion compared with $1.01 billion in fiscal 2023.

NFG’s Guidance
 

NFG updated its fiscal 2025 earnings projection to the range of $5.50-$6.00 per share from the previously anticipated $5.75-$6.25 range. The Zacks Consensus Estimate is pegged at $5.69 per share.

The company still expects its capital expenditure for fiscal 2025 to be in the range of $885-970 million. It expects production volume in the band of 400-420 Bcf for the same year.

NFG’s Zacks Rank
 

National Fuel Gas currently has a Zacks Rank #5 (Strong Sell).

You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

An Upcoming Release
 

NewJersey Resources NJR is scheduled to report fiscal fourth-quarter results on Nov. 25 after market close. The Zacks Consensus Estimate for earnings is pegged at 89 cents per share, which indicates a year-over-year improvement of 196.7%.

The Zacks Consensus Estimate for sales is pegged at $407 million, which calls for a year-over-year improvement of 22.8%.

Recent Releases
 

Southwest Gas Holdings Inc. SWX recorded third-quarter 2024 operating earnings of 9 cents per share, which beat the Zacks Consensus Estimate of 7 cents by 28.6%. However, the bottom line decreased 47.1% from the year-ago quarter’s 17 cents.

Operating revenues totaled $1.08 billion, which missed the Zacks Consensus Estimate of $1.13 billion by 4.8%. The top line decreased 7.7% from $1.17 billion reported in the prior-year quarter.

ONE Gas, Inc. OGS reported third-quarter 2024 operating earnings per share (EPS) of 34 cents, which lagged the Zacks Consensus Estimate of 41 cents by 17.1%. The figure also came in 24.4% lower than the year-ago quarter’s earnings of 45 cents per share.

ONE Gas recorded revenues of $340.4 million, which missed the Zacks Consensus Estimate of $363 million by 6.3%. However, the top line increased 1.4% from $335.8 million in the prior-year quarter.

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

Southwest Gas Corporation (SWX) : Free Stock Analysis Report

National Fuel Gas Company (NFG) : Free Stock Analysis Report

NewJersey Resources Corporation (NJR) : Free Stock Analysis Report

ONE Gas, Inc. (OGS) : Free Stock Analysis Report

To read this article on Zacks.com click here.

Zacks Investment Research