National Fuel Gas Co (NFG) Q2 2019 Earnings Call Transcript
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National Fuel Gas Co (NYSE: NFG)
Q2 2019 Earnings Call
May. 03, 2019, 11:00 a.m. ET

Contents:

  • Prepared Remarks

  • Questions and Answers

  • Call Participants

Prepared Remarks:

Operator

Good morning, my name is Carol, and I will be your operator today. At this time, I would like to welcome everyone to the National Fuel Gas Company Second Quarter 2019 Earnings Call. All lines have been placed on mute to prevent any background noise. After the speakers' remarks, we will have a question-and-answer session. (Operator Instructions) At this time, I would like to turn the call over to Ken Webster, Director of Investor Relations. Mr. Webster, please go ahead.

Ken Webster -- Director of Investor Relations

Thank you, Carol, and good morning. We appreciate you joining us on today's conference call for a discussion of last evening's earnings release. With us on the call from National Fuel Gas Company are Ron Tanski, President and Chief Executive Officer, Dave Bauer, Treasurer and Principal Financial Officer and John McGinnis, President of Seneca Resources. At the end of the prepared remarks, we will open the discussion to questions. The Second quarter fiscal 2019 '19 earnings release and May Investor Presentation have been posted on our Investor Relations website. We may refer to these materials during today's call. We would like to remind you that today's teleconference will contain forward-looking statements. While National Fuel's expectations, beliefs and projections are made in good faith and are believed to have a reasonable basis, actual results may differ materially. These statements speak only as of the date on which they are made and you may refer to last evening's earnings release for a listing of certain specific risk factors. National Fuel will be participating in the AGA Financial Forum, later this month in Fort Lauderdale. If you plan on attending please contact me to schedule a meeting with the management team.

With that, I'll turn it over to Ronald Tanski.

Ronald J. Tanski -- President and Chief Executive Officer

Thanks Ken, and good morning everyone. Thanks for joining us. As we highlighted in last evening's release, earnings for the second fiscal quarter of 2019 were fairly consistent with last year and in line with our expectations. Emerging from the winter heating season that was slightly colder than last year in our New York jurisdiction, we saw a slight uptick in earnings in the utility business where throughput was 1.7 billion cubic feet higher than last year's second quarter. Because our weather normalization mechanism offsets most of the impact of colder weather, the increase in utility earnings came largely from higher margin, lower interest expense and other minor rate adjustments.