Overview
- The Ohio local distribution company includes roughly 5,900 miles of transmission and distribution pipelines serving about 335,000 metered customers.
- The price implies about 1.9 times the 2024 rate base and roughly 1.6 times the estimated 2026 rate base.
- National Fuel projects its utility rate base to nearly double to about $3.2 billion and its customer count to reach around 1.1 million across New York, Pennsylvania and Ohio after closing.
- The company expects immediate accretion to regulated EPS excluding one-time costs, with adjusted results neutral in fiscal 2028 and accretive thereafter.
- Closing is targeted for the fourth quarter of 2026 subject to regulatory approvals and other customary conditions, and National Fuel shares fell about 3% following the announcement.