Core Insights - GAMCO Investors increased its position in National Fuel Gas Company by 37,056 shares, valued at approximately $3.05 million, during Q4 2025 [2] - The fund's total stake in National Fuel Gas is now valued at $115.73 million, reflecting a decrease of $14.37 million from the previous period [2] - National Fuel Gas shares were priced at $84.16 as of February 4, 2026, representing a 19.1% increase over the past year, outperforming the S&P 500 by about 5.11 percentage points [3] Company Overview - National Fuel Gas Company provides integrated natural gas and oil services, operating across four segments: exploration and production, pipeline and storage, gathering, and utility [5][8] - The company reported a total revenue of $2.38 billion and a net income of $655.16 million for the trailing twelve months [4] - The dividend yield stands at 2.50% [4] Operational Performance - In its fiscal first quarter, National Fuel Gas reported adjusted earnings of $2.06 per share, a 24% increase year over year, driven by higher natural gas production and stronger realized prices [10] - Production rose by 12% year over year, while the utility segment benefited from rate increases and system modernization investments [10] - Management reaffirmed full-year adjusted EPS guidance of $7.60 to $8.10, indicating confidence despite commodity price volatility [10] Investment Implications - The increase in GAMCO's holdings suggests a long-term conviction in National Fuel Gas, as the company continues to perform well operationally despite fluctuations in reported position value [9] - The integrated structure of National Fuel Gas, which includes upstream production and regulated utility services, provides stability in cash flows, differentiating it from many pure commodity producers [11]

Core Insights - National Fuel Gas Company (NFG) reported first-quarter fiscal 2026 adjusted operating earnings of $2.06 per share, exceeding the Zacks Consensus Estimate of $1.91 by 7.85% and increasing 24.1% from the previous year's $1.66 [1] - Total revenues for NFG reached $651.5 million, surpassing the Zacks Consensus Estimate of $647 million by 0.7% and reflecting an 18.6% increase from $549.5 million in the prior year [2] Financial Performance - NFG's total operating expenses decreased to $375.4 million, down 18.9% from $463.3 million in the year-ago quarter, while operating income surged to $276.1 million, up 220.3% from $86.2 million [4] - GAAP earnings for the quarter were reported at $1.98 per share, a significant increase of 304.1% from 49 cents in the year-ago quarter [1] Segment Analysis - Utility segment revenues totaled $259.05 million, up 13.4% from $228.4 million in the year-ago quarter [3] - Integrated upstream and Gathering and Other segments generated revenues of $323.2 million, reflecting a 28.1% increase from $252.4 million in the previous year [3] - Pipeline and Storage segment revenues amounted to $69.2 million, a slight increase of 0.6% from $68.8 million recorded in the year-ago quarter [3] Production and Cash Flow - Seneca produced 109 billion cubic feet (Bcf) of natural gas during the fiscal first quarter, an increase of 11 Bcf, or 12%, from the prior-year level, attributed to new Utica pads in Tioga County [5] - As of December 31, 2025, NFG had cash and temporary cash investments of $271.4 million, a significant rise from $43.2 million as of September 30, 2025 [6] - Net cash provided by operating activities for the first quarter totaled $274.9 million, compared to $220.1 million in the previous year [6] Guidance and Future Outlook - NFG reiterated its guidance for adjusted earnings per share for fiscal 2026, projecting a range between $7.60 and $8.10 [7] - The company expects capital expenditure for fiscal 2026 to be in the range of $0.96 billion to $1.07 billion, with production anticipated to be between 440-455 Bcf [8]

Core Insights - New Found Gold Corp. announced additional results from grade control drilling at the Keats zone of its Queensway Gold Project, confirming high-grade gold mineralization near the surface [1][2][3] Drilling Program Highlights - The 2025 Keats excavation grade control drill program included 1,230 meters of drilling across 36 diamond drill holes, aimed at enhancing confidence in the distribution of high-grade gold mineralization [3][4] - A total of 84 diamond drill holes are planned for the full program, with 62% of results reported to date [4] Significant Drill Results - Notable drill results include: - 508 g/t Au over 2.20 m from 16.80 m (NFGC-25-GC-024) - 113 g/t Au over 3.75 m from 11.90 m (NFGC-25-GC-025) - 9.29 g/t Au over 37.60 m from 12.00 m (NFGC-25-GC-027) - 27.0 g/t Au over 10.00 m from 0.00 m (NFGC-25-GC-033) [5][7] Geological Context - The Keats and Iceberg zones are located within the Keats-Baseline Fault Zone, a high-grade gold-bearing structure with a defined strike length of 1.9 kilometers [10] - The drilling program is designed to validate resource models and improve confidence in high-grade intersections ahead of a mineral resource estimate update [9] Future Plans - The 2026 drill program is underway, focusing on infill drilling for resource conversion and expanding grade control drilling at the Iceberg and Lotto excavations [15][16] - An updated Technical Report, including a new mineral resource estimate, is expected to be filed in mid-2026 [18]

Financial Performance - Operating revenues for the three months ended December 31, 2025, increased to $651.5 million, up 18.6% from $549.5 million in the same period of 2024[10] - Net income available for common stock surged to $181.6 million, compared to $45.0 million in the prior year, representing a 304.5% increase[12] - Earnings per common share (basic) rose to $1.99, a significant increase from $0.50 in the previous year[10] - The company reported an operating income of $276.1 million, a substantial increase from $86.2 million in the same quarter of the previous year[10] - Comprehensive income for the three months ended December 31, 2025, was $207.9 million, compared to a loss of $15.7 million in the prior year[12] - Net income available for common stock for the three months ended December 31, 2025, was $181,645,000, a significant increase from $44,986,000 in the same period of 2024, representing a growth of 304%[20] - Total revenues for the quarter ended December 31, 2025, were $651.5 million, a 18.6% increase from $549.5 million in the same quarter of 2024[48] - The Integrated Upstream and Gathering segment generated revenues of $323.2 million for the three months ended December 31, 2025[83] - The Utility segment reported revenues of $259.0 million for the same period, contributing to the overall revenue growth[83] Assets and Liabilities - Total assets increased to $9.21 billion as of December 31, 2025, compared to $8.72 billion at the end of September 2025, reflecting a growth of 5.6%[15] - Cash and temporary cash investments rose to $271.4 million, up from $43.2 million in the previous quarter, indicating improved liquidity[15] - Total comprehensive shareholders' equity increased to $3,587,960,000 as of December 31, 2025, compared to $3,094,604,000 as of September 30, 2025, reflecting a growth of 16%[18] - The company's total capitalization as of December 31, 2025, was $5,671,852,000, an increase from $5,477,465,000 as of September 30, 2025, showing a growth of 4%[18] - The fair market value of long-term debt was $2,695,409,000, with a carrying amount of $2,683,892,000[57] - The Company reported a decrease in current portion of long-term debt to $600,000,000 as of December 31, 2025, from $300,000,000 as of September 30, 2025, reflecting a 100% increase in current liabilities[20] Cash Flow and Investments - Net cash provided by operating activities for the three months ended December 31, 2025, was $274,921,000, up from $220,088,000 in the same period of 2024, indicating a 25% increase[20] - Capital expenditures for the three months ended December 31, 2025, were $277,631,000, compared to $240,427,000 in the same period of 2024, representing an increase of 15%[20] - The net increase in cash and cash equivalents for the three months ended December 31, 2025, was $228,232,000, compared to $10,472,000 in the same period of 2024, indicating a substantial increase[20] - Cash and cash equivalents at December 31, 2025, were $271,398,000, a significant increase from $48,694,000 at the same time in 2024[20] - The Company had $46.2 million of net hedging gains after taxes included in accumulated other comprehensive income, with $45.9 million expected to be reclassified into earnings within the next 12 months[64] Shareholder Returns - The company declared dividends per common share of $0.535, up from $0.515 in the previous year, reflecting a commitment to returning value to shareholders[10] - The balance of earnings reinvested in the business at December 31, 2025, was $2.14 billion, compared to $1.70 billion at the same time last year[10] - The Company issued 4,402,513 shares of common stock at $79.50 per share, raising net proceeds of $338.6 million for general corporate purposes, including funding an acquisition[71] Acquisitions and Growth - The Company entered into a Securities Purchase Agreement to acquire Vectren Energy Delivery of Ohio, LLC for an aggregate purchase price of $2.62 billion, expected to close in Q4 2026[43] - The acquisition will double the size of the Company's gas utility rate base and expand operations into Ohio, a state with a supportive regulatory environment[43] - The purchase price includes $1.42 billion in cash and a $1.2 billion promissory note with a 6.5% interest rate, maturing 364 days post-closing[43] Environmental and Regulatory Matters - The Company recorded a regulatory liability of $1.5 million for environmental clean-up costs as of December 31, 2025[75] - The Company has not identified any material additional exposure to environmental liabilities beyond the recorded amounts[75] - The 2024 Rate Order approved by the NYPSC includes a revenue requirement increase of $57.3 million for fiscal 2025, $15.8 million for fiscal 2026, and $12.7 million for fiscal 2027, with a return on equity of 9.7%[86] - In Pennsylvania, the 2023 Rate Order authorized an increase in annual base rate operating revenues of $23 million, with a proposed additional increase of $19.7 million effective March 29, 2026[87] Other Financial Metrics - The effective tax rate for the quarter ended December 31, 2025, was 24.6%, an increase from 19.9% in the same quarter of 2024[69] - The Company recorded a total of $9,720 thousand in net gains from derivative financial instruments for the quarter ended December 31, 2025[36] - The Company recorded an impairment charge of $33.45 million for water disposal assets in Q4 2025, following a fair market value assessment[54] - The allowance for uncollectible accounts increased to $17,504,000 as of December 31, 2025, from $28,384,000 in the same period of 2024, indicating a decrease of 38%[29]

Financial Data and Key Metrics Changes - The company reported adjusted earnings per share (EPS) of $2.06 for the first quarter of fiscal 2026, aligning with expectations [4] - Adjusted EBITDA increased by 29% compared to the prior year, driven by higher production and natural gas prices [4] Business Line Data and Key Metrics Changes - The integrated upstream and gathering business saw net production of 109 billion cubic feet (BCF), a 12% increase over the first quarter of fiscal 2025 [23] - The regulated businesses performed strongly due to a three-year rate settlement at the New York utility and a pipeline modernization tracker at the Pennsylvania utility [5][8] Market Data and Key Metrics Changes - Natural gas prices have shown significant volatility, with the February contract settling at nearly $7.50, a 140% increase from two weeks prior [15] - The company expects natural gas prices to remain in the $3-$5 range, influenced by structural demand from LNG exports and limited new infrastructure [28] Company Strategy and Development Direction - The company is focused on operational excellence and growth, with plans to expand Seneca's inventory and improve capital efficiency [6] - The Tioga Pathway project and shipping port lateral project are progressing well, with additional expansion opportunities anticipated [7] - The company is pursuing an acquisition of CenterPoint's Ohio LDC, expected to close in the fourth quarter of calendar 2026, which will enhance its regulated business [10][11] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the natural gas outlook, citing all-time high demand and bipartisan support for an all-of-the-above energy approach [5] - The company reaffirmed its adjusted EPS guidance range of $7.60-$8.10 for fiscal 2026, projecting a 14% growth over the previous year [22] - Management noted that the regulatory environment in Ohio is improving, which could facilitate future projects [21] Other Important Information - The company has a strong investment-grade balance sheet and expects to approach a net debt to EBITDA ratio of 1.75 times by the end of fiscal 2026 [17] - The company has executed a ten-year agreement to provide MIQ-certified methane reduction certificates, reinforcing its commitment to sustainability [29] Q&A Session Summary Question: Ability to take advantage of local price spikes - The company has a marketing portfolio that allows it to keep some gas available to take advantage of high local prices during cold weather [32][33] Question: Future growth projects in the pipeline business - Management indicated that there are additional opportunities for pipeline projects beyond the Tioga Pathway, given the favorable location of their pipelines [34][36] Question: Impact of federal permitting reform on pipeline projects - Management believes that permitting reform would expedite project development but does not expect it to change their overall view on pipeline development [39] Question: DNC costs of Seneca Gen 4 design - The Gen 4 design incurs additional costs due to wider inner well spacing and increased prop loading, estimated at $150-$175 per foot [40][41] Question: Optimal production growth rate - The company aims for a mid-single digit growth rate, contingent on interstate pipeline capacity and market conditions [47][49] Question: Co-development strategy for Upper Utica - The company is currently testing co-development strategies for Upper and Lower Utica, with plans to assess data from ongoing tests [62][64] Question: Incremental takeaway capacity from the basin - Management noted ongoing projects that will enhance takeaway capacity from the basin, which is crucial for reducing price volatility [73][75]

Financial Data and Key Metrics Changes - The company reported adjusted earnings per share (EPS) of $2.06 for Q1 2026, aligning with expectations and reflecting a solid start to the fiscal year [5][13] - Adjusted EBITDA increased by 29% compared to the prior year, driven by higher production and natural gas prices [5] - The company reaffirmed its adjusted EPS guidance range for the fiscal year at $7.60-$8.10, with a midpoint of $7.85 [15] Business Line Data and Key Metrics Changes - The integrated upstream and gathering segment saw net production of 109 billion cubic feet (BCF), a 12% increase over Q1 2025 [24] - The utility business filed a new rate case requesting a $20 million increase in rates, which would result in an approximate 11% increase in customer bills if approved [9][10] - The regulated businesses benefited from a three-year rate settlement at the New York utility and a pipeline modernization tracker at the Pennsylvania utility [6] Market Data and Key Metrics Changes - Natural gas prices have shown significant volatility, with the February contract settling at nearly $7.50, a 140% increase from two weeks prior [16] - The company anticipates a price environment for natural gas in the $3-$5 range, supported by strong structural demand from LNG exports and power generation [29] Company Strategy and Development Direction - The company is focused on operational excellence and growth, with plans to expand Seneca's inventory and improve capital efficiency [7] - The Tioga Pathway project and Shippingport Lateral project are progressing well, with expectations for additional expansion opportunities [8] - The company is optimistic about the Ohio utility acquisition, which is expected to close in Q4 2026, enhancing its growth potential [12] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the strong outlook for natural gas demand, citing bipartisan support for an all-of-the-above energy approach [6] - The company noted that pricing fluctuations are expected to persist, but its hedge book provides downside protection for 70% of remaining production [16] - Management highlighted the importance of building more pipeline infrastructure to alleviate price volatility in the Northeast [55] Other Important Information - The company completed a $350 million private placement of common stock to satisfy equity needs for the Ohio utility acquisition [11][19] - The Ohio regulatory environment is improving, with new laws expected to shorten the rate case timeline and provide greater certainty in achieving allowed returns [22] Q&A Session Summary Question: Ability to take advantage of local price spikes - Management confirmed they keep a portion of gas available to capitalize on high local prices during extreme weather events [34] Question: Future growth projects in the pipeline business - Management indicated there are additional opportunities for pipeline projects beyond those currently announced, given the strategic location of their pipelines [37] Question: Impact of federal permitting reform on pipeline projects - Management believes permitting reform would expedite project development but does not fundamentally change their view on pipeline development [40] Question: Optimal production growth rate - Management stated that mid-single digit growth (3%-7%) is the target, contingent on interstate pipeline capacity and market conditions [50] Question: Co-development strategy for Upper Utica - Management is currently testing co-development strategies and remains flexible based on data and results from ongoing projects [64][65] Question: Incremental takeaway capacity from the basin - Management noted ongoing projects that will enhance takeaway capacity and expressed optimism about future infrastructure developments [76][77]

Financial Data and Key Metrics Changes - The company reported adjusted earnings per share (EPS) of $2.06 for Q1 2026, aligning with expectations and reflecting a solid start to the fiscal year [4][13] - Adjusted EBITDA increased by 29% compared to the prior year, driven by higher production and natural gas prices [4] Business Line Data and Key Metrics Changes - The integrated upstream and gathering segment achieved net production of 109 BCF, a 12% increase over Q1 2025, highlighting the strength of the Tioga Utica program [23] - The utility business filed a new rate case in Pennsylvania requesting a $20 million increase, which, if approved, would raise customer bills by about 11% [9][10] Market Data and Key Metrics Changes - Natural gas prices have shown significant volatility, with the February contract settling at nearly $7.50, a 140% increase from two weeks prior, marking a record move in NYMEX history [15] - The company anticipates a price environment for natural gas in the $3-$5 range, supported by strong structural demand from LNG exports and power generation [27] Company Strategy and Development Direction - The company is focused on operational excellence and growth, with plans to expand Seneca's inventory and improve capital efficiency, targeting a 30% gain since 2023 [6] - The company is optimistic about future pipeline expansion opportunities and is actively engaged in discussions for additional projects [7][35] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the strength of the natural gas market, citing all-time high demand and bipartisan support for an all-of-the-above energy approach [5][11] - The adjusted EPS guidance for the full year remains unchanged at $7.60-$8.10, with expectations for a 14% growth over the previous year [14][21] Other Important Information - The company is progressing with the acquisition of CenterPoint's Ohio LDC, expected to close in Q4 2026, with financing secured through a $350 million private placement [12][18] - Regulatory changes in Ohio are expected to shorten the rate case timeline and provide greater certainty in achieving allowed returns [20] Q&A Session Summary Question: Ability to take advantage of local price spikes - The company has a marketing portfolio that allows it to keep some gas available to take advantage of high local prices during cold weather [32][33] Question: Future growth projects in the pipeline business - Management indicated that there are additional opportunities for pipeline projects beyond the announced Tioga Pathway, with ongoing interest in the area [34][35] Question: Impact of federal permitting reform on pipeline projects - Management believes that permitting reform would expedite project development but does not fundamentally change their view on pipeline development [39] Question: Optimal production growth rate - The company aims for a mid-single digit growth rate, contingent on interstate pipeline capacity and market conditions [48] Question: Plans for further delineation or testing in the Upper Utica zone - The company is actively appraising and delineating additional locations in both the upper and lower Utica, with over 400 locations identified [50][51] Question: Variability of the frac barrier between upper and lower Utica - The company has a good understanding of the thickness of the impermeable barrier across its acreage, which is consistent and effective [72] Question: Incremental takeaway industry-wide from the basin - Management noted ongoing projects that are increasing takeaway capacity and expressed cautious optimism about future developments [76][77]

Investor Presentation Fiscal 2026 – 1st Quarter Update January 28, 2026 Fiscal 2026 Q1 Update 1 National Fuel Gas Company Fiscal 2026 Q1 Update 2 • Company Overview (3) • Recent Highlights (6) • Why National Fuel? (11) • Financial Overview (16) • Integrated Upstream & Gathering Highlights (20) • Pipeline & Storage and Utility Highlights (32) • Guidance & Other Financial Information (48) Company Overview Corporate HQ: Buffalo, NY ~2,300 employees NYSE: NFG Market Cap: ~$7.9B 123 Years of consecutive dividend ...

Financial Performance - National Fuel reported GAAP earnings of $181.6 million, or EPS of $1.98, compared to $45.0 million, or $0.49 per share, in the prior year[6]. - Adjusted earnings increased to $187.7 million, or adjusted EPS of $2.06, representing a 24% increase per share from $151.9 million, or $1.66 per share, in the prior year[6]. - The Utility segment's net income increased by 5% to $34.1 million, primarily due to higher customer margin from system modernization investments[20]. - Adjusted earnings for the first quarter of 2026 are reported at $187.682 million, compared to $151.941 million in the first quarter of 2025[32]. - First quarter 2025 GAAP earnings per share was $(0.21), while adjusted earnings per share was $1.66, reflecting a significant increase from $(0.01) in the previous year[34]. - Net income available for common stock was $181.6 million, significantly higher than $45.0 million in the same quarter last year, indicating a year-over-year increase of 303.5%[37]. - Net income available for common stock increased significantly to $181,645,000 in Q4 2025 from $44,986,000 in Q4 2024, representing a growth of 304%[41]. - Reported GAAP earnings for the quarter were $181.645 million, significantly up from $44.986 million in the same quarter of 2024[62]. Revenue Growth - Operating revenues for the first quarter of 2025 reached $651.5 million, up from $549.5 million in the same period last year, representing an increase of approximately 18.6%[37]. - Integrated Upstream and Gathering Revenues increased to $323.2 million, a rise of 28.2% compared to $252.3 million in the prior year[37]. - Utility revenues grew to $259.0 million, compared to $228.4 million in the previous year, marking an increase of 13.4%[37]. - Total operating revenues rose to $323,223,000 in Q4 2025, up from $252,308,000 in Q4 2024, marking an increase of 28%[43]. - Revenues from external customers in the utility segment increased to $259,047,000 in Q4 2025 from $228,424,000 in Q4 2024, a growth of 13%[48]. Production and Pricing - The Integrated Upstream and Gathering segment's adjusted EPS rose by 45% to $1.36, driven by a 14% increase in natural gas price realizations and a 12% growth in natural gas production[6]. - Seneca produced 109 Bcf of natural gas, an increase of 11 Bcf, or 12%, from the prior year due to new Utica pads turned in line in Tioga County[14]. - The weighted average realized natural gas price was $2.89 per Mcf, an increase of $0.36 per Mcf, or 14%, from the prior year[15]. - Gas production in Appalachia for the quarter was 109,181 MMcf, up 11,464 MMcf from 97,717 MMcf in the same quarter of 2024[56]. - The weighted average price per Mcf increased to $2.77 in 2025 from $2.23 in 2024, reflecting a $0.54 increase[56]. Capital Expenditures and Guidance - Capital expenditures for fiscal 2026 are projected to be between $955 million and $1,065 million, with specific segments allocated as follows: Integrated Upstream and Gathering $560 - $610 million, Pipeline and Storage $210 - $250 million, and Utility $185 - $205 million[30]. - National Fuel reaffirmed its fiscal 2026 adjusted EPS guidance range of $7.60 to $8.10 per share, with a midpoint of $7.85[8]. - The company revised its adjusted earnings per share guidance for fiscal 2026 to a range of $7.60 - $8.10, maintaining the previous guidance[28]. - The company expects natural gas production to be between 440 Bcf and 455 Bcf for fiscal 2026, with NYMEX natural gas price assumptions set at $3.75 per MMBtu[30]. - The effective tax rate for fiscal 2026 is anticipated to be approximately 25.5%[30]. Acquisition and Related Costs - The Company successfully issued $350 million in common equity to fund the acquisition of CenterPoint Ohio gas utility, expected to close in Q4 2026[6]. - The acquisition of CenterPoint Energy's Ohio natural gas utility business is expected to close in Q4 2026, with no impact on fiscal 2026 guidance[28]. - The company plans to acquire an Ohio gas utility, which is expected to impact future earnings and operational strategy[34]. - The company incurred costs of $7.687 million related to the pending Ohio gas utility acquisition during the quarter[62]. - Management reported costs related to the pending Ohio gas utility acquisition amounting to $2,007[64]. Cash Flow and Liquidity - Cash and temporary cash investments rose to $271.4 million, up from $43.2 million, indicating a substantial increase in liquidity[39]. - Net cash provided by operating activities was $274,921,000 in Q4 2025, an increase from $220,088,000 in Q4 2024, indicating a growth of 25%[41]. - Net cash provided by financing activities surged to $232,197,000 in Q4 2025, compared to $24,933,000 in Q4 2024, showing a substantial increase[41]. - The company reported a net interest benefit from equity issuance of $509 thousand in the first quarter of 2026[32]. Segment Performance - Integrated Upstream and Gathering Segment reported GAAP earnings of $124,047, a significant increase from a loss of $19,632 in the same period last year[64]. - Adjusted EBITDA for the Integrated Upstream and Gathering Segment rose to $268,442, up 28.7% from $208,581 year-over-year[64]. - Pipeline and Storage Segment reported GAAP earnings of $31,219, slightly down from $32,454 in the previous year[64]. - Utility Segment reported GAAP earnings of $34,090, an increase from $32,499 year-over-year[64]. - Corporate and All Other segment reported a GAAP loss of $7,711, compared to a loss of $335 in the same quarter last year[64]. - Adjusted EBITDA for the Utility Segment increased to $64,651, up 6.5% from $60,665 year-over-year[64].

分组1 - National Fuel Gas (NFG) reported quarterly earnings of $2.06 per share, exceeding the Zacks Consensus Estimate of $1.91 per share, and up from $1.66 per share a year ago, representing an earnings surprise of +7.71% [1] - The company achieved revenues of $651.51 million for the quarter ended December 2025, surpassing the Zacks Consensus Estimate by 0.69%, and an increase from $549.48 million year-over-year [2] - National Fuel Gas has outperformed the S&P 500 with a 3.9% gain since the beginning of the year, compared to the S&P 500's gain of 1.9% [3] 分组2 - The current consensus EPS estimate for the upcoming quarter is $2.23 on revenues of $762.95 million, and for the current fiscal year, it is $7.32 on revenues of $2.58 billion [7] - The Zacks Industry Rank for Oil and Gas - Integrated - United States is in the bottom 7% of over 250 Zacks industries, indicating potential challenges for stocks in this sector [8] - National Fuel Gas currently holds a Zacks Rank 4 (Sell), suggesting that the stock is expected to underperform the market in the near future [6]