)
Edge31 Oct 2025
Rolls-Royce: Full Thrust Ahead
From century-old crafted perfection to pandemic shock and reset, Rolls-Royce's story is shaped by heritage, turbulence, and a disciplined climb back.
National Fuel Gas Company (NFG) investor relations material
National Fuel Gas Company M&A Announcement summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.M&A Announcement summary21 Oct, 2025
Deal rationale and strategic fit
Acquisition of CenterPoint's Ohio Natural Gas Utility business for $2.62 billion adds 335,000 customers, doubles the utility rate base to $3.2 billion, and expands regulated operations into Ohio, enhancing scale and balancing the business mix.
Entry into a favorable regulatory jurisdiction with strong political support for natural gas, providing access to a contiguous, cold-weather market.
Diversifies operations and supports long-term regulated growth and dividend stability.
Geographic proximity and similar asset profile to current operations support operational synergies and smooth integration.
Provides a new avenue for reinvesting free cash flow from upstream and gathering operations into regulated assets.
Financial terms and conditions
Purchase price is $2.62 billion on a cash-free, debt-free basis, representing approximately 1.6x estimated 2026 rate base, with customary closing adjustments.
$1.2 billion of the price will be paid via a promissory note to CenterPoint, maturing in 364 days at 6.5% interest.
Permanent financing to include $300–$400 million in common equity, long-term debt, and free cash flow from upstream and gathering businesses.
Fully committed bridge facility from TD Securities and Wells Fargo Securities backstops the transaction.
Synergies and expected cost savings
Immediate accretion to regulated earnings per share, with consolidated EPS expected to be neutral in fiscal 2028 and accretive thereafter.
Integration of a talented workforce and operational best practices is expected to enhance service reliability and efficiency.
Increased scale and regulated cash flows are anticipated to improve the credit profile and support dividend growth.
Modernization, safety, and reliability investments of $150–$200 million annually planned, with growth opportunities in expanding Ohio markets.
Detail Ohio's capital investment recovery mechanisms.
The $1.2B promissory note's role in financing?
What conditions affect consolidated EPS accretion?
Rationale for $300-400M equity raise and timing?
How do Ohio's riders ensure future rate base growth?
What drives consolidated EPS neutrality in 2028?
Partial view of Summaries dataset, powered by Quartr API
Research faster. Power your platform.
Next National Fuel Gas Company earnings date
Q4 20256 Nov, 2025
Next National Fuel Gas Company earnings date
Q4 20256 Nov, 2025
The essential earnings season companion
The #1 app for live earnings calls, transcripts, analyst estimates, and more. All for free.
Live calls and transcripts
Listen to earnings calls, CMDs, investor conferences, and more – with a podcast-like experience.
Find what you need faster
Search for any keyword across all transcripts simultaneously.
Easily store key findings
Capturing important takeaways is as simple as it gets. Even during your lunch run or commute.
Your watchlist. Your dashboard.
Follow the companies that matter to you. Get a personalized feed with real-time updates.
Be the first to know
Set keyword alerts for any company, product, or competitor. Get notified the moment they're mentioned.
Consensus estimates
Access analyst consensus estimates, valuation multiples, and revenue segments splits.
All IR material in one place
The easiest way to stay updated during earnings season.
Global coverage
All events from public companies. Live and recorded.
Just click and listen
No webcast links. No manual registrations.
excellent app, it gives me free access to company earnings calls and annual reports. I also love the convenience of calls being available offline so I can listen in whilst doing other things and even when internet or WiFi isn't available.
)
Leroy DaleyApp Store
One of the very few apps you could call perfect. If something was to add to it, maybe the share price of the company when you search for it, but it's already excellent.
)
Eferix Drawings Google Play
This is genuinely one of the cleanest and fastest finance apps out there to track the market.
anuj283App Store
excellent app, it gives me free access to company earnings calls and annual reports. I also love the convenience of calls being available offline so I can listen in whilst doing other things and even when internet or WiFi isn't available.
Leroy DaleyApp Store
One of the very few apps you could call perfect. If something was to add to it, maybe the share price of the company when you search for it, but it's already excellent.
Eferix Drawings Google Play
This is genuinely one of the cleanest and fastest finance apps out there to track the market.
anuj283App Store
I can't remember the last time an app had such a positive impact on my investment process.
)
@ankurshah47_ x.com
Love the app! Quartr makes it really easy to keep track of earnings calls. It also includes the reports and slides to make it easier to follow along.
Amina0781App Store
Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.
@theshortbearx.com
I can't remember the last time an app had such a positive impact on my investment process.
@ankurshah47_ x.com
Love the app! Quartr makes it really easy to keep track of earnings calls. It also includes the reports and slides to make it easier to follow along.
Amina0781App Store
Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.
@theshortbearx.com
)
)
Frequently asked questions
National Fuel Gas Company is a diversified energy company engaged in natural gas utility operations, pipeline and storage, exploration and production, and energy marketing. It provides services to residential, commercial, and industrial customers in the northeastern United States. The company is headquartered in Williamsville, New York, and its shares are listed on the NYSE.
Quartr provides global coverage of all investor relation material from public companies.
Mobile app: Research anytime, anywhere with the #1 app for live earnings calls, transcripts, analyst estimates, and more. All for free.
Desktop (Quartr Pro): The leading platform for qualitative research, used daily by top firms and financial institutions.
Quartr API: Build custom solutions powered by live earnings calls, live transcripts, filings and reports, slide presentations, and more.
Yes, the Quartr mobile app is free on both iOS and Android.
Yes. Quartr provides global, industry-leading live coverage of company events such as regular earnings calls, capital markets days, M&A announcements, and investor conferences. Live with zero delays. Just click and listen.
Yes, capturing important takeaways is as simple as it gets. Even during your lunch run or commute.
Yes. Follow the companies that matter to you. Get a personalized feed with real-time updates, a tailored earnings calendar, and instant alerts when earnings calls go live.
Yes. Set keyword alerts for any company, product, or competitor. Get notified the moment they're mentioned, regardless of who's talking.
Explore our global coverage