Filing Flows › National Fuel Gas (NFG) › Q3 FY25
National Fuel Gas (NFG) Q3 FY25 earnings results (third quarter fiscal 2025)
10-Q filed Jul 31, 2025
National Fuel Gas (NFG) reported revenue of $532M for the third quarter fiscal 2025 (Q3 FY25), +27% from a year earlier and -27% from the quarter before. Operating margin was 43.3%, net earnings $150M (28.2% of revenue).
National Fuel Gas, Q3 FY25: revenue $532M (+27% year over year), operating margin 43.3%, net earnings $150M, operating cash flow $388M. The chart follows the revenue to costs, profit and cash.
| Q3 FY25 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $532M | -27% | +27% |
| Operating profit | $230M | -27% | — |
| Net earnings | $150M | -31% | — |
| Operating cash flow | $388M | +53% | +38% |
| Free cash flow | $195M | +226% | +146% |
What changed
Revenue was $531.8M in Q3 FY25, up 27% year over year and down 27% from the previous quarter. Exploration and Production and Other Revenues was the largest line at 57% of revenue. Exploration and Production and Other Revenues added $83.0M year over year (up 38%), 73% of the total change. Pipeline and Storage and Gathering Revenues declined 2%.
Operating profit was $230.3M, a 43.3% margin (up 55.6 points year over year). Total costs fell 36% while revenue rose 27%. The fastest-growing cost line was Cost of revenue (+465%). Net earnings were $149.8M. The effective tax rate was 25.4%.
Operating cash flow was $388.4M (up 38% year over year), 259% of net earnings. Non-cash charges added back $116.4M of depreciation and amortization and $5.2M of share-based compensation. Working capital and other items added $116.9M. Capital expenditures of $193.1M left free cash flow of $195.3M.
Questions
What was National Fuel Gas' revenue in the third quarter fiscal 2025?
National Fuel Gas (NFG) reported revenue of $532M for the third quarter fiscal 2025 (Q3 FY25), +27% from a year earlier and -27% from the quarter before.
Was National Fuel Gas profitable in the third quarter fiscal 2025?
Operating profit was $230M (43.3% of revenue) and net earnings $150M.
Source: National Fuel Gas 10-Q on SEC EDGAR.