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Press Release: National Fuel Reports First -7-

· 02/04/2021 16:45
Non-Service Pension and Post-Retirement Benefit Costs (68) (71) 3 Interest and Other Income 234 68 166 Interest Expense (4,131) (2,219) (1,912) ------- ------- ------- Income Before Income Taxes 27,924 22,071 5,853 Income Tax Expense 7,374 6,127 1,247 ------- ------- ------- Net Income $20,550 $15,944 $ 4,606 ====== ====== ====== Net Income Per Share (Diluted) $ 0.22 $ 0.18 $ 0.04 ====== ====== ====== NATIONAL FUEL GAS COMPANY AND SUBSIDIARIES SEGMENT OPERATING RESULTS AND STATISTICS (UNAUDITED) DOWNSTREAM BUSINESS Three Months Ended (Thousands of Dollars, except per share amounts) December 31, -------------------------------- UTILITY SEGMENT 2020 2019 Variance ------------------------------ --------- --------- ---------- Revenues from External Customers $188,901 $194,910 $(6,009) Intersegment Revenues 100 1,915 (1,815) -------- -------- ------- Total Operating Revenues 189,001 196,825 (7,824) -------- -------- ------- Operating Expenses: Purchased Gas 77,032 84,705 (7,673) Operation and Maintenance 45,252 42,843 2,409 Property, Franchise and Other Taxes 9,749 9,814 (65) Depreciation, Depletion and Amortization 13,994 13,630 364 -------- -------- ------- 146,027 150,992 (4,965) -------- -------- ------- Operating Income 42,974 45,833 (2,859) Other Income (Expense): Non-Service Pension and Post-Retirement Benefit Costs (6,684) (6,764) 80 Interest and Other Income 738 950 (212) Interest Expense (5,452) (5,673) 221 -------- -------- ------- Income Before Income Taxes 31,576 34,346 (2,770) Income Tax Expense 8,539 7,763 776 -------- -------- ------- Net Income $ 23,037 $ 26,583 $(3,546) ======= ======= ====== Net Income Per Share (Diluted) $ 0.25 $ 0.31 $ (0.06) ======= ======= ====== NATIONAL FUEL GAS COMPANY AND SUBSIDIARIES SEGMENT OPERATING RESULTS AND STATISTICS (UNAUDITED) Three Months Ended (Thousands of Dollars, except per share amounts) December 31, --------------------------------- ALL OTHER 2020 2019 Variance ----------------------------- --------- --------- ----------- Revenues from External Customers $ 1,110 $ 34,235 $(33,125) Intersegment Revenues 20 177 (157) -------- -------- -------- Total Operating Revenues 1,130 34,412 (33,282) -------- -------- -------- Operating Expenses: Purchased Gas 2,287 32,033 (29,746) Operation and Maintenance 764 1,703 (939) Property, Franchise and Other Taxes 8 142 (134) Depreciation, Depletion and Amortization 386 203 183 -------- -------- -------- 3,445 34,081 (30,636) -------- -------- -------- Gain on Sale of Timber Properties 51,066 -- 51,066 -------- -------- -------- Operating Income 48,751 331 48,420 Other Income (Expense): Non-Service Pension and Post-Retirement Benefit Costs (4) (69) 65 Interest and Other Income 185 278 (93) Interest Expense -- (18) 18 -------- -------- -------- Income before Income Taxes 48,932 522 48,410 Income Tax Expense 11,372 151 11,221 -------- -------- -------- Net Income $ 37,560 $ 371 $ 37,189 Net Income Per Share (Diluted) $ 0.41 $ -- $ 0.41 ======= ======= ======= Three Months Ended December 31, --------------------------------- CORPORATE 2020 2019 Variance ----------------------------- --------- --------- ----------- Revenues from External Customers $ 95 $ 135 $ (40) Intersegment Revenues 663 1,094 (431) -------- -------- -------- Total Operating Revenues 758 1,229 (471) -------- -------- -------- Operating Expenses: Operation and Maintenance 2,599 2,644 (45) Property, Franchise and Other Taxes 121 117 4 Depreciation, Depletion and Amortization 36 194 (158) -------- -------- -------- 2,756 2,955 (199) -------- -------- -------- Operating Loss (1,998) (1,726) (272) Other Income (Expense): Non-Service Pension and Post-Retirement Benefit Costs (923) (775) (148) Interest and Other Income 38,979 31,073 7,906 Interest Expense on Long-Term Debt (32,256) (25,443) (6,813) Other Interest Expense (1,535) (1,419) (116) -------- -------- -------- Income before Income Taxes 2,267 1,710 557 Income Tax Expense 200 99 101 -------- -------- -------- Net Income $ 2,067 $ 1,611 $ 456 Net Income Per Share (Diluted) $ 0.03 $ 0.02 $ 0.01 ======= ======= ======= Three Months Ended December 31, --------------------------------- INTERSEGMENT ELIMINATIONS 2020 2019 Variance ----------------------------- --------- --------- ----------- Intersegment Revenues $(75,897) $(61,225) $(14,672) ------- ------- ------- Operating Expenses: Purchased Gas (27,712) (24,459) (3,253) Operation and Maintenance (48,185) (36,766) (11,419) -------- -------- -------- (75,897) (61,225) (14,672) -------- -------- -------- Operating Income -- -- -- Other Income (Expense): Interest and Other Deductions (35,420) (28,947) (6,473) Interest Expense 35,420 28,947 6,473 -------- -------- -------- Net Income $ -- $ -- $ -- Net Income Per Share $ -- $ -- $ -- (Diluted) ======= ======= ======= NATIONAL FUEL GAS COMPANY AND SUBSIDIARIES SEGMENT INFORMATION (Continued) (Thousands of Dollars) Three Months Ended December 31, (Unaudited) -------------------------------------------------- Increase 2020 2019 (Decrease) -------- -------- -------------- Capital Expenditures: ------------------ Exploration and Production $ 81,339 (1)(2) $126,918 (3)(4) $ (45,579) Pipeline and Storage 43,723 (1)(2) 57,084 (3)(4) (13,361) Gathering 8,320 (1)(2) 9,838 (3)(4) (1,518) Utility 17,345 (1)(2) 17,165 (3)(4) 180 -------- -------- ----------- Total Reportable Segments 150,727 211,005 (60,278) All Other -- 22 (22) Corporate 39 185 (146) Eliminations 154 -- 154 -------- -------- ----------- Total Capital

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February 04, 2021 16:45 ET (21:45 GMT)