National Fuel Gas (NYSE: NFG) reported Q4 EPS of $0.49, $0.05 worse than the analyst estimate of $0.54. Revenue for the quarter came in at $289.2 million versus the consensus estimate of $343.33 million.

Ronald J. Tanski, President and Chief Executive Officer of National Fuel Gas Company, stated: “National Fuel concluded another successful fiscal year with strong results. Over the course of the year, we were busy setting Company records for Seneca’s Appalachian proved natural gas reserves and production, along with a record high level of throughput in our Gathering segment. We continued our investments dedicated to the modernization and safety of our interstate and utility pipeline systems, and maintained our strong record of customer service and reliability. Lower taxes from tax legislation enacted late last year helped to offset the decline in realized pricing on Seneca’s production, and the benefits of lower taxes in our Utility segment are being passed along to our utility customers. In what appears to be a ‘new normal’ period of lower natural gas prices, we nonetheless generated positive free cash flow for the third consecutive year - a testament to the quality of our assets and our focus on cost control and achieving operational efficiencies.

“Already a month into our 2019 fiscal year, we are well positioned to build on our success. Recently commissioned capacity on the Atlantic Sunrise project provides us with an avenue to further develop our acreage in Lycoming County, Pa., one of the most prolific positions in Appalachia. We will continue to transition to development of the Utica shale in the Western Development Area to enhance consolidated upstream and midstream returns and take advantage of improving pricing in the basin, all the while minimizing the environmental footprint of our operations as we utilize existing infrastructure. Combined with the stability of the rate-regulated businesses, we expect to responsibly grow the Company in a manner that strengthens our financial position and maximizes the value of our assets for our shareholders for years to come.”

GUIDANCE:

National Fuel Gas sees FY2019 EPS of $3.35-$3.65, versus the consensus of $3.38.

For earnings history and earnings-related data on National Fuel Gas (NFG) click here.