Core Insights - National Fuel Gas (NFG) reported quarterly earnings of $2.39 per share, exceeding the Zacks Consensus Estimate of $2.18 per share, and showing an increase from $1.79 per share a year ago, resulting in an earnings surprise of 9.63% [1] - The company posted revenues of $729.95 million for the quarter ended March 2025, which fell short of the Zacks Consensus Estimate by 6.79%, compared to $629.94 million in the same quarter last year [2] - NFG shares have increased approximately 28% since the beginning of the year, contrasting with a decline of 5.5% in the S&P 500 [3] Earnings Outlook - The current consensus EPS estimate for the upcoming quarter is $1.77, with expected revenues of $639.45 million, and for the current fiscal year, the EPS estimate is $6.97 on revenues of $2.56 billion [7] - The estimate revisions trend for NFG is favorable, leading to a Zacks Rank 1 (Strong Buy) for the stock, indicating expectations of outperformance in the near future [6] Industry Context - The Oil and Gas - Integrated - United States industry is currently ranked in the top 36% of over 250 Zacks industries, suggesting that companies in the top 50% outperform those in the bottom 50% by more than a factor of 2 to 1 [8]

Financial Performance & Guidance - The company anticipates adjusted EPS for fiscal year 2025 to be between $675 and $705, assuming a NYMEX price of $350 [58] - At a NYMEX price of $400, the adjusted EPS guidance for fiscal year 2025 is $705 to $735 [58] - The company projects a consolidated 3-year adjusted EPS CAGR greater than 10% from fiscal year 2024 to 2027 [36, 56] - Approximately $650 million was returned to shareholders in the last 3 years [44] Capital Allocation & Investments - Capital expenditure guidance for fiscal year 2025 is between $885 million and $960 million [63] - The company has an ongoing share repurchase program, with $200 million authorized in March 2024 [48] - As of March 31st, the company had purchased approximately $115 million worth of shares, totaling 19 million shares at an average price of approximately $59 per share [48] - The company has invested over $1 billion in safety since 2010 [16] Operational Highlights & Strategy - Seneca Resources' current net production is approximately 12 Bcf/day [21] - The Utility segment in New York has approximately 541000 customers [26] - The Utility segment in Pennsylvania has approximately 214000 customers [26] - The company has reduced methane emissions by 17% since 2020 [11]

Market Overview - Wall Street has experienced significant volatility in 2025, with all three major stock indexes (Dow, S&P 500, Nasdaq Composite) in negative territory year to date [1] - Small-cap benchmarks (Russell 2000, S&P 600) and mid-cap-specific S&P 400 Index are also in the red year to date [1] High-Performing Mid-Cap Stocks - Despite market headwinds, five mid-cap stocks have provided over 25% returns year to date: ADMA Biologics Inc. (ADMA), FirstCash Holdings Inc. (FCFS), Stride Inc. (LRN), Life Time Group Holdings Inc. (LTH), and National Fuel Gas Co. (NFG) [2] - These stocks exhibit strong revenue and earnings growth potential for 2025, with positive earnings estimate revisions over the last 60 days [3] ADMA Biologics Inc. - ADMA Biologics specializes in plasma-based biologics for treating and preventing infectious diseases, targeting immune-compromised individuals [7][8] - Expected revenue growth rate is 16.3% and earnings growth rate is 44.9% for the current year, with a 2.9% improvement in earnings estimates over the last 60 days [9] FirstCash Holdings Inc. - FirstCash operates retail pawn stores across the U.S., Mexico, and Latin America, providing loans against personal property and retailing forfeited merchandise [10][11] - Expected revenue growth rate is 0.2% and earnings growth rate is 17.2% for the current year, with a 2.6% improvement in earnings estimates over the last seven days [13] Stride Inc. - Stride is a technology-based education service company offering online curriculum and educational services [14] - Expected revenue growth rate is 14.9% and earnings growth rate is 48.4% for the current year, with a 4.3% improvement in earnings estimates over the last 30 days [16] Life Time Group Holdings Inc. - Life Time provides health, fitness, and wellness experiences, operating various fitness and recreation centers [17][18] - Expected revenue growth rate is 12.9% and earnings growth rate is 37.9% for the current year, with a 6.5% improvement in earnings estimates over the last 60 days [19] National Fuel Gas Co. - National Fuel Gas focuses on systematic investments to strengthen operations and reduce emissions, with significant capital investments planned [20][21] - Expected revenue growth rate is 31.5% and earnings growth rate is 39.1% for the current year, with a 1.9% improvement in earnings estimates over the last 60 days [22][23]

Core Viewpoint - National Fuel Gas Company (NFG) is set to release its fiscal second-quarter 2025 results on April 30, with expectations of strong performance driven by various factors including rate increases and improved demand for natural gas [1][2]. Group 1: Factors Impacting Q2 Results - NFG received approval for a base delivery rate increase effective January 1, 2025, aimed at supporting investments in pipeline infrastructure and addressing operational costs [2]. - Stronger demand for natural gas due to colder winters is expected to positively influence earnings [3]. - Improvements in net exploration and production (E&P) productivity are anticipated to enhance production and gathering throughput [3]. - The ongoing share repurchase program is likely to reduce outstanding shares, potentially boosting earnings [3]. Group 2: Q2 Expectations - The Zacks Consensus Estimate for earnings is $2.17 per share, reflecting a year-over-year increase of 21.2% [4]. - The Zacks Consensus Estimate for revenues is $783.13 million, indicating a 24.3% year-over-year increase [4]. - Total production of gas is estimated at 108.23 billion cubic feet per day (Bcfe), up 5.2% year over year [5]. - The weighted average gas price is expected to be $3.08 per thousand cubic feet, a significant increase of 55.6% from the previous year [5]. Group 3: Earnings Prediction - The company's Earnings ESP is 0.00%, indicating that an earnings beat is not predicted this time [6]. - NFG currently holds a Zacks Rank 1 (Strong Buy), suggesting strong market confidence [7].

Core Insights - National Fuel Gas Company (NYSE: NFG) is scheduled to report its Q2 '25 earnings on April 30th after market close [1] Company Overview - The company is focused on long-term investment strategies, typically with a 5-10 year horizon [1] - The investment approach emphasizes a portfolio mix of growth, value, and dividend-paying stocks, with a particular focus on value [1] - The company occasionally engages in options trading as part of its investment strategy [1]

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Group 1: Company Overview - CrossAmerica Partners (CAPL) is a notable stock within the Oils-Energy sector, which consists of 246 companies and ranks 13 in the Zacks Sector Rank [2] - CAPL currently holds a Zacks Rank of 1 (Strong Buy), indicating a favorable earnings outlook [3] Group 2: Performance Metrics - Over the past quarter, the Zacks Consensus Estimate for CAPL's full-year earnings has increased by 72.7%, reflecting improved analyst sentiment [4] - Year-to-date, CAPL has gained approximately 4.7%, while the Oils-Energy sector has seen an average return of -7%, demonstrating CAPL's outperformance [4] Group 3: Industry Context - CAPL is part of the Oil and Gas - Refining and Marketing - Master Limited Partnerships industry, which includes 6 stocks and ranks 53 in the Zacks Industry Rank; this group has gained an average of 0.7% this year [6] - In contrast, National Fuel Gas (NFG), another stock in the Oils-Energy sector, has a year-to-date return of 30.1% and is part of the Oil and Gas - Integrated - United States industry, which has declined by -8.6% this year [5][7]

Core Viewpoint - Investors are seeking growth stocks that can deliver above-average growth and exceptional returns, but identifying such stocks can be challenging due to inherent volatility and risks [1] Group 1: Growth Stock Identification - The Zacks Growth Style Score system helps identify promising growth stocks by analyzing real growth prospects beyond traditional metrics [2] - National Fuel Gas (NFG) is highlighted as a recommended stock with a favorable Growth Score and a top Zacks Rank [2] Group 2: Earnings Growth - Earnings growth is a critical factor for attracting investor attention, with double-digit growth being particularly desirable [3] - National Fuel Gas has a historical EPS growth rate of 13.7%, but projected EPS growth for this year is expected to be 37.7%, significantly higher than the industry average of 15.7% [4] Group 3: Cash Flow Growth - Higher-than-average cash flow growth is essential for growth-oriented companies, allowing them to expand without relying on external funding [5] - National Fuel Gas has a year-over-year cash flow growth of 3.8%, outperforming the industry average of -2% [5] - The company's annualized cash flow growth rate over the past 3-5 years is 9.9%, compared to the industry average of 8.9% [6] Group 4: Earnings Estimate Revisions - Positive trends in earnings estimate revisions correlate strongly with near-term stock price movements [7] - National Fuel Gas has seen upward revisions in current-year earnings estimates, with the Zacks Consensus Estimate increasing by 3.9% over the past month [8] Group 5: Overall Positioning - National Fuel Gas has achieved a Growth Score of B and a Zacks Rank 1 due to positive earnings estimate revisions, positioning it well for potential outperformance [10]

Company Announcement - National Fuel Gas Company will release its second quarter fiscal 2025 earnings results on April 30, 2025, after market close [1] - A conference call to discuss the results is scheduled for May 1, 2025, at 9:00 a.m. ET, lasting approximately 20 minutes for prepared remarks followed by a Q&A session [1] Conference Call Details - Participants must pre-register to join the conference using the provided registration link [2] - A webcast link will be available on the NFG Investor Relations website, and a replay of the call will be accessible until May 8, 2025 [2] Company Overview - National Fuel is a diversified energy company based in Western New York, operating across four business segments: Exploration & Production, Pipeline & Storage, Gathering, and Utility [3] - Additional information about the company can be found on its official website [3]

Industry Overview - The Zacks Oil & Gas US Integrated industry includes companies involved in upstream and midstream energy businesses, focusing on oil and natural gas exploration and production, as well as transportation and storage [3] - Upstream operations are positively correlated to oil and gas prices, while midstream assets generate stable fee-based revenues [3] Current Market Environment - Despite a significant decline in crude prices, the pricing environment remains favorable for exploration and production activities [1] - Integrated energy firms' midstream segments are performing well due to consistent revenues from pipeline and storage fees [1] Key Trends - Oil prices are still favorable as the breakeven price in most U.S. shale plays is lower than current oil prices, allowing upstream operations to remain profitable [4] - Integrated companies' midstream businesses are less exposed to commodity price volatility, securing stable fee-based revenues through long-term contracts [5] - Companies are focusing on reducing greenhouse gas emissions and flaring rates in response to climate change concerns [6] Industry Performance - The Zacks Oil & Gas US Integrated industry has underperformed compared to the broader Zacks Oil - Energy sector and the S&P 500 over the past year, with a decline of 31.8% [9] - The industry currently holds a Zacks Industry Rank of 78, placing it in the top 32% of over 250 Zacks industries, indicating bright near-term prospects [7][8] Valuation Metrics - The industry is trading at an EV/EBITDA ratio of 4.61X, lower than the S&P 500's 14.66X but higher than the sector's 4.09X [13] - Over the past five years, the industry's EV/EBITDA has ranged from 3.33X to 14.35X, with a median of 5.02X [13] Notable Companies - **ConocoPhillips (COP)**: Has a promising production outlook with lower debt exposure, positioned to withstand adverse business scenarios [15] - **Occidental Petroleum (OXY)**: Significant presence in U.S. shale plays, with a reserve replacement rate of 230% in 2024 [17][19] - **National Fuel Gas (NFG)**: Involved in developing resources in Marcellus and Utica shale plays, with a strong dividend payment history [22] - **Epsilon Energy (EPSN)**: An independent natural gas and oil company with operations in Marcellus Shale and Permian basin, debt-free with stable cash flows [25]