National Fuel Gas Company (NFG)

Gross profit margin

		Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019
Gross profit (ttm)	US$ in thousands	1,601,458	1,616,522	1,643,920	1,679,870	1,706,226	1,665,197	1,616,029	1,558,395	1,504,451	1,450,782	1,426,383	1,347,732	1,277,347	1,331,632	1,336,984	1,394,461	1,561,988	1,599,786	1,595,641	1,587,964
Revenue (ttm)	US$ in thousands	2,040,273	2,173,771	2,239,970	2,313,890	2,298,349	2,186,047	2,106,889	1,998,662	1,848,057	1,742,660	1,674,661	1,603,283	1,543,263	1,546,291	1,551,643	1,585,824	1,647,273	1,693,332	1,689,187	1,674,899
Gross profit margin		78.49%	74.36%	73.39%	72.60%	74.24%	76.17%	76.70%	77.97%	81.41%	83.25%	85.17%	84.06%	82.77%	86.12%	86.17%	87.93%	94.82%	94.48%	94.46%	94.81%

December 31, 2023 calculation

Gross profit margin = Gross profit (ttm) ÷ Revenue (ttm)
= $1,601,458K ÷ $2,040,273K
= 78.49%

The gross profit margin of National Fuel Gas Co. has shown fluctuations over the past eight quarters. In Q1 2024, the gross profit margin increased to 84.17%, which represents a favorable improvement from the previous quarter. This upward trend follows a decrease in Q4 2023 from 82.06% to 79.87%. Prior to this decrease, the company experienced a gradual decline in the gross profit margin from Q2 to Q4 2023.

Comparing Q1 2024 to the same period in the previous year, there has been a slight improvement in the gross profit margin, as Q1 2023 recorded a margin of 79.91%. However, Q1 2023 also marked a decline from the preceding quarter.

Overall, while the gross profit margin of National Fuel Gas Co. has displayed some volatility in recent quarters, the most recent data point indicates an increase, potentially signaling improved profitability. It would be important to monitor future financial performance to assess the sustainability of this positive trend.