National Fuel Gas (NFG) Operating Expenses (2009 - 2026)

National Fuel Gas has disclosed Operating Expenses across 18 years of filings, most recently posting $511.2 million for Q1 2026.

• Operating Expenses for Q1 2026 came in at $511.2 million, up 23.88% year-over-year; the trailing twelve-month figure through Mar 2026 was $1.5 billion (down 22.93% YoY), and the FY2025 annual result was $1.5 billion, down 15.62% from the prior year.
• Operating Expenses came in at $511.2 million for Q1 2026 at National Fuel Gas, up from $375.4 million in the prior quarter.
• In the past five years, Operating Expenses ranged from a high of $568.6 million in Q3 2024 to a low of $243.6 million in Q3 2023.
• The 5-year median for Operating Expenses is $379.3 million (2024), against an average of $385.4 million.
• Across the five-year window, Operating Expenses surged 133.39% in 2024 and sank 49.61% in 2025, its largest moves.
• National Fuel Gas' Operating Expenses stood at $404.5 million in 2022, then slipped by 21.32% to $318.3 million in 2023, then soared by 45.57% to $463.3 million in 2024, then fell by 18.97% to $375.4 million in 2025, then jumped by 36.19% to $511.2 million in 2026.
• The last three Operating Expenses figures came in at $511.2 million (Q1 2026), $375.4 million (Q4 2025), and $286.5 million (Q3 2025), per Business Quant data.