On Nov. 9, National Fuel Gas Company (NYSE:NFG) released fourth-quarter earnings for the period ended Sept. 30, 2006.

  • The huge drop in EPS is largely due to a non-cash impairment charge of some Canadian properties. On an operating basis, earnings more than doubled.
  • The company repurchased 242,200 shares of common stock this quarter.
  • Crude oil and natural gas volume production for this quarter stood at 12.1 billion cubic feet equivalent (bcfe).
  • For fiscal year 2007, management expects earnings in the range of $2.10-$2.30 per share.
  • Our Motley Fool CAPS players give this stock a paltry one-star rating.

(Figures in millions, except per-share data)

Income Statement Highlights

Q4 2006

Q4 2005

Change

Sales

$294.5

$287.1

2.6%

Net Profit

$2.0

$49.2

(96%)

EPS

$0.02

$0.57

(96.5%)

Diluted Shares

85.5

85.8

(0.3%)



Get back to basics with a look at the income statement.

Margin Checkup

Q4 2006

Q4 2005

Change*

Gross Margin

--

--

--

Operating Margin

6.3%

12.2%

(5.9)

Net Margin

0.7%

6.4%

(5.7)

*Expressed in percentage points.

Margins are the earnings engine. See how they work.

Balance Sheet Highlights

Assets

Q4 2006

Q4 2005

Change

Cash + ST Invest.

$89.3

$135.4

(34.1%)

Accounts Rec.

$144.3

$141.4

2%

Inventory*

$96.2

$97.8

(1.7%)

*Inventory includes gas stored underground, materials, and supplies.

Liabilities

Q4 2006

Q4 2005

Change

Accounts Payable

$133.0

$155.5

(14.4%)

Long-Term Debt

$1,109.1

$1,119.0

(0.9%)



Learn the ways of the balance sheet.

Cash Flow Highlights

YTD 2006

YTD 2005

Change

Cash From Ops.

$471.4

$317.3

48.5%

Capital Expenditures

$294.2

$219.5

34%

Free Cash Flow

$177.2

$97.8

81.2%



Find out why Fools always follow the money.

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