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National Fuel Gas fiscal Q3 results 'strong,' in line with expectations

National Fuel Gas Co. on Aug. 3 reported fiscal third-quarter 2017 consolidated net income of $59.7 million, or 69 cents per share, compared to $8.3 million, or 10 cents per share, in the same quarter last year.

The S&P Global Market Intelligence consensus normalized EPS estimate for the quarter was also 69 cents.

Fiscal third-quarter operating results were also reported at $59.7 million, or 69 cents per share, compared to $58.1 million, or 68 cents per share, in the year-ago period. Adjusted EBITDA for the quarter fell to $179.0 million, from $189.8 million in the same period last year.

National Fuel's exploration and production segment, Seneca Resources Corp., reported net income of $30.1 million, or 35 cents per share, recovering from a net loss of $19.2 million, or 22 cents per share, in the prior-year period.

The company raised and tightened its fiscal 2017 earnings guidance to a range of $3.25 per share to $3.35 per share.