Description
National Fuel Gas’ $1.5 Billion Financing Push Sets Up The CenterPoint Deal! – Major Drivers, Financial Forecasts, DCF & Comparable Valuation, ESG & Other Risks (9/26)
National Fuel Gas Company reported third-quarter fiscal 2026 adjusted EPS of $1.54, broadly in line with expectations but $0.10 below the prior year. The decline primarily reflected lower production volumes in its Integrated Upstream and Gathering segment, offsetting stronger natural gas prices and hedge gains. Regulated businesses delivered margin growth through multiyear rate plans in New York and Pennsylvania, although inflation and labor-related operating costs moderated the benefit. Full-year fiscal 2026 adjusted EPS guidance was lowered slightly to $7.40 to $7.60. The revision reflects Seneca Resources’ updated production outlook of 420 to 430 Bcfe, while retaining a $3 per MMBtu NYMEX price assumption. National Fuel continues progressing toward its acquisition of CenterPoint’s Ohio gas utilities, targeted to close October 1, 2026. The transaction is expected to double the company’s utility rate base, increase regulated asset exposure, and strengthen its investment-grade credit profile. Acquisition financing includes a record $1.
