Financial Performance - Total sales volume for Q3 2025 was 634 Bcfe, a 9.1% increase from 581 Bcfe in Q3 2024[6] - Net income attributable to EQT was $336 million, compared to a loss of $301 million in Q3 2024, representing a $637 million improvement[7] - Free cash flow attributable to EQT was $484 million, a significant turnaround from a loss of $125 million in Q3 2024[7] - Adjusted net income attributable to EQT for Q3 2025 was $328.58 million, compared to $91.43 million in Q3 2024, reflecting a significant increase[26] - The company reported a net income of $407.22 million for Q3 2025, compared to a net loss of $297.43 million in Q3 2024[31] - Net income for the three months ended September 30, 2025, was $158,088,000, compared to $8,320,000 for the same period in 2024, representing a significant increase[35] - Net income attributable to EQT Corporation for the nine months ended September 30, 2025, was $1,362,148, compared to a loss of $187,818 in the same period of 2024[61] - For the nine months ended September 30, 2025, EQT Corporation reported a net income of $1,579,290, compared to a net loss of $185,130 in the same period of 2024[63] Revenue and Sales - Total production operating revenues for the nine months ended September 30, 2025, were $4.27 billion, compared to $2.36 billion for the same period in 2024[31] - Total operating revenues for Q3 2025 reached $1,958,571, a 53% increase from $1,283,802 in Q3 2024[61] - The company reported a total of $1,677,617 in sales of natural gas, natural gas liquids, and oil for Q3 2025, up from $1,099,752 in Q3 2024[61] - EQT Corporation's total sales, including cash settled derivatives, amounted to $5,504,453 for the nine months ended September 30, 2025, up from $4,285,930 in 2024, indicating a growth of 28.5%[65] Cash Flow and Expenses - Adjusted operating cash flow for the three months ended September 30, 2025, was $1,221,140,000, compared to $522,286,000 in 2024, reflecting a 133.4% increase[42] - Free cash flow for the three months ended September 30, 2025, was $600,888,000, a turnaround from a negative $120,799,000 in the same period of 2024[42] - Operating cash flow increased significantly to $4,000,565 for the nine months ended September 30, 2025, up from $2,070,697 in 2024, reflecting a growth of approximately 93.5%[63] - The company incurred $28.96 million in other expenses in Q3 2025, primarily related to transaction costs associated with acquisitions[31] - The Olympus Energy Acquisition incurred cash transaction costs of $21 million in Q3 2025, impacting other expenses significantly[31] - The impact of cash transaction costs related to the Olympus Energy Acquisition was $21.0 million for the three months ended September 30, 2025[42] Capital Expenditures and Investments - Capital expenditures for Q3 2025 were $618 million, 10% below the midpoint of guidance due to efficiency gains[6] - Capital expenditures for the nine months ended September 30, 2025, were $1,675,691, slightly higher than $1,662,112 in 2024[63] - The company utilized $2,223,895 in net cash for investing activities during the nine months ended September 30, 2025, compared to $2,162,332 in 2024[63] Market and Strategic Developments - The company signed LNG offtake agreements for 4.5 million tonnes per annum starting in 2030-2031, reflecting successful execution of its LNG strategy[6] - The MVP Boost project capacity was upsized to 600 MDth/d due to strong demand, with a projected build multiple of approximately 3.0x adjusted EBITDA[6] - The company expects total sales volume of 550-600 Bcfe for Q4 2025, including 15-20 Bcfe of strategic curtailments[13] - The company expects adjusted net income attributable to EQT to continue improving, driven by operational efficiencies and market conditions[21] Debt and Financial Position - Net debt as of September 30, 2025, was $7,982,086, a decrease from $9,122,084 as of December 31, 2024[54] - Total debt as of September 30, 2025, was $8,217,822, down from $9,324,177 as of December 31, 2024[54] - The current portion of debt increased to $506,690 as of September 30, 2025, compared to $320,800 at the end of 2024[62] - The total liabilities decreased to $14,404,987 as of September 30, 2025, from $15,552,119 at the end of 2024[62] Operational Performance - Average realized price increased to $2.76 per Mcfe, up $0.38 from $2.38 in Q3 2024[7] - Operating costs reached a record low of $1.00 per Mcfe, 7% below the midpoint of guidance[6] - Adjusted EBITDA for Q3 2025 reached $1.33 billion, up from $831.94 million in Q3 2024, indicating strong operational performance[31] - Operating income for Q3 2025 was $603,210, a significant recovery from an operating loss of $281,840 in Q3 2024[61] - Production adjusted operating revenues reached $1,752,577 for the three months ended September 30, 2025, compared to $1,382,917 in the prior year, reflecting a 27% increase[50] - Natural gas sales volume reached 1,666,421 MMcf for the nine months ended September 30, 2025, a 9.6% increase from 1,520,574 MMcf in 2024[65] - The average realized price for natural gas, including cash settled derivatives, was $2.99 per Mcf for the nine months ended September 30, 2025, compared to $2.49 per Mcf in 2024, representing a 20.1% increase[65] Shareholder Returns - The dividend was increased by 5% to $0.66 per share, with a compounded annual growth rate of approximately 8% since 2022[6] - The company believes that using its distribution share from the Midstream JV best reflects the economic impact on adjusted operating cash flow and free cash flow trends[44]

Core Insights - EQT Corporation reported strong financial and operational results for Q3 2025, highlighting operational efficiency and significant free cash flow generation [3][4][5] Financial Performance - Total sales volume reached 634 Bcfe, an increase of 53 Bcfe from 581 Bcfe in Q3 2024 [4] - Average realized price improved to $2.76 per Mcfe, up $0.38 from $2.38 in the previous year [4] - Net income attributable to EQT was $336 million, a turnaround from a loss of $301 million in Q3 2024, marking a $637 million improvement [4] - Adjusted net income attributable to EQT was $329 million, up from $238 million, reflecting a $91 million increase [4] - Free cash flow attributable to EQT was $484 million, compared to a negative $125 million in Q3 2024, representing a $609 million improvement [4][5] Operational Highlights - Capital expenditures totaled $618 million, which was 10% below the midpoint of guidance due to efficiency gains [5] - The company achieved record low per unit operating costs of $1.00 per Mcfe, 7% below guidance [5] - Successful integration of Olympus assets was completed 34 days post-acquisition, resulting in operational efficiencies [5] - The MVP Boost project was upsized to 600 MDth/d due to strong demand, indicating robust growth potential [5] Strategic Initiatives - The company signed LNG offtake agreements for 4.5 million tonnes per annum starting in 2030-2031, showcasing a strategic focus on LNG [5] - A 5% increase in dividends to $0.66 per share was announced, reflecting a compounded annual growth rate of approximately 8% since 2022 [5] Guidance and Outlook - For Q4 2025, EQT expects total sales volume between 550 – 600 Bcfe, including strategic curtailments [11] - Total capital expenditures for Q4 2025 are projected to be between $635 – $735 million [11] - Full-year 2025 total sales volume is expected to be between 2,325 – 2,375 Bcfe [12]

To ensure this doesn’t happen in the future, please enable Javascript and cookies in your browser.If you have an ad-blocker enabled you may be blocked from proceeding. Please disable your ad-blocker and refresh. ...

Core Insights - EQT Corporation has a strong track record of exceeding earnings estimates, particularly in the last two quarters, with an average surprise of 8.98% [1][5] - The most recent earnings report showed EQT earning $0.45 per share, surpassing the Zacks Consensus Estimate of $0.44 per share by 2.27% [2] - In the previous quarter, EQT reported earnings of $1.18 per share against an expectation of $1.02 per share, resulting in a surprise of 15.69% [2] Earnings Estimates - There has been a favorable shift in earnings estimates for EQT, indicated by a positive Earnings ESP (Expected Surprise Prediction) [5] - The current Earnings ESP for EQT is +1.82%, suggesting analysts have recently become more optimistic about the company's earnings prospects [8] - Stocks with a positive Earnings ESP and a Zacks Rank of 3 (Hold) or better have a nearly 70% chance of producing a positive surprise [6] Earnings Release Information - The next earnings report for EQT is expected to be released on October 21, 2025 [8] - The Zacks Earnings ESP compares the Most Accurate Estimate to the Zacks Consensus Estimate, with the Most Accurate Estimate reflecting the latest analyst revisions [7]

Industry Overview - The global demand for cleaner fuel is increasing, leading to a rise in natural gas demand, particularly driven by the growth of data centers requiring substantial natural gas-powered electricity [1] - U.S. LNG exports are on the rise, indicating a growing global appetite for natural gas [1] Price Projections - The U.S. Energy Information Administration (EIA) forecasts natural gas spot prices to reach $3.40 per million BTU by 2025, an increase from $2.20 per million BTU last year, which is expected to benefit exploration and production companies [2][6] Company Highlights - EQT Corporation is a leading natural gas producer in the U.S., with a strong presence in the Appalachian basin, reporting $2 billion in cumulative free cash flows over the past three quarters, indicating robust financial health [3][6] - Kinder Morgan Inc. operates a vast pipeline network of approximately 66,000 miles, transporting about 40% of the natural gas produced in the U.S., positioning the company to benefit from the increasing demand for clean energy [4][6] - Antero Resources is a prominent upstream energy company in the Appalachian Basin, with a favorable production outlook due to its extensive drilling inventories, likely to benefit from rising natural gas prices [5]

Core Viewpoint - EQT Corporation is expected to report significant growth in quarterly earnings and revenues, with earnings per share projected at $0.47, a 291.7% increase year-over-year, and revenues forecasted at $1.71 billion, reflecting a 23.5% increase compared to the previous year [1]. Earnings Projections - The consensus EPS estimate has been revised down by 7.7% over the last 30 days, indicating a reevaluation of initial estimates by analysts [2]. - Changes in earnings projections are crucial for predicting investor reactions, as empirical studies show a strong correlation between earnings estimate trends and short-term stock price movements [3]. Revenue Estimates - Analysts predict 'Operating revenues- Pipeline, net marketing services and other' will reach $149.76 million, a year-over-year increase of 27.8% [5]. - 'Operating revenues- Sales of natural gas, natural gas liquids and oil' is expected to be $1.71 billion, indicating a 55.6% increase from the same quarter last year [5]. - 'Revenues from contracts with customers- NGLs sales' is estimated at $139.47 million, showing a slight decline of 0.2% year-over-year [6]. - 'Revenues from contracts with customers- Oil sales' are projected to be $16.67 million, reflecting a significant decrease of 21.2% year-over-year [6]. Sales Volume and Pricing - The consensus estimate for 'Average Sales Price - Oil price' is $51.00, down from $61.25 in the same quarter last year [7]. - Analysts expect 'NGLs, excluding ethane - NGLs price' to be $29.85, compared to $35.09 in the same quarter last year [7]. - 'Natural gas - Sales volume' is projected to reach 591,651.10 million cubic feet, an increase from 547,225.00 million cubic feet reported last year [8]. - The estimated 'Sales Volume - Total' is 628,248 million cubic feet equivalent, up from 581,414 million cubic feet equivalent year-over-year [8]. - The average daily sales volume is expected to be 6,829 million cubic feet equivalent per day, compared to 6,320 million cubic feet equivalent per day last year [9]. - 'Oil - Sales volume' is forecasted to reach 441 thousand barrels, an increase from 345 thousand barrels reported last year [9]. Additional Metrics - The average prediction for 'Average Sales Price - Ethane price' is $6.26, up from $5.56 in the same quarter last year [10]. - 'NGLs - Sales volumes (NGLs, excluding ethane and Ethane)' is projected to be 3,657 thousand barrels, slightly down from 3,710 thousand barrels reported last year [10]. Market Performance - EQT shares have returned +7.8% over the past month, outperforming the Zacks S&P 500 composite's +0.7% change, although it holds a Zacks Rank 4 (Sell), indicating potential underperformance in the near future [11].

Core Insights - EQT Corporation is a major player in the natural gas sector, with a market capitalization of $33.2 billion, involved in production, gathering, and transportation of natural gas and liquids [1] - The company is expected to report a significant profit increase in its upcoming fiscal Q3 earnings announcement, with analysts projecting earnings of $0.47 per share, a 291.7% rise from the previous year [2] Financial Performance - For the current fiscal year ending in December, EQT is anticipated to report earnings of $2.86 per share, reflecting a 77.6% increase from $1.61 per share in fiscal 2024 [3] - The company's quarterly revenue for Q2 was reported at $2.6 billion, marking a 168.5% increase year-over-year, driven by a 91.2% growth in natural gas, natural gas liquids, and oil sales [5] Stock Performance - EQT's stock has increased by 45.2% over the past 52 weeks, significantly outperforming the S&P 500 Index's 13.5% gain and the Energy Select Sector SPDR Fund's 5.5% decline [4] - Wall Street analysts have a positive outlook on EQT's stock, with a "Strong Buy" rating from 19 out of 26 analysts, and a mean price target of $64, indicating a potential upside of 20.2% [6]

Core Points - EQT Corporation announced a quarterly cash dividend of $0.165 per share, reflecting a five percent increase from the previous annualized dividend of $0.66 per share [1] Company Overview - EQT Corporation is a leading vertically integrated natural gas company in the United States, primarily focused on production and midstream operations in the Appalachian Basin [2] - The company emphasizes responsible development of its asset base, operational efficiency, technology, and sustainability [2] - EQT is committed to safety for employees, contractors, and communities, as well as reducing its environmental footprint [2]

Core Viewpoint - Wall Street anticipates a year-over-year increase in earnings for EQT Corporation, driven by higher revenues, with a focus on how actual results compare to estimates impacting stock price [1][2]. Earnings Expectations - The upcoming earnings report is expected to show quarterly earnings of $0.47 per share, reflecting a year-over-year increase of +291.7%, with revenues projected at $1.79 billion, up 29.7% from the previous year [3]. Estimate Revisions - The consensus EPS estimate has been revised down by 4.32% over the last 30 days, indicating a reassessment by analysts regarding the company's earnings prospects [4]. Earnings Surprise Prediction - The Zacks Earnings ESP model indicates that the Most Accurate Estimate for EQT is lower than the consensus estimate, resulting in an Earnings ESP of -3.96%, suggesting bearish sentiment among analysts [12]. Historical Performance - In the last reported quarter, EQT exceeded the consensus EPS estimate, achieving earnings of $0.45 per share against an expectation of $0.44, resulting in a surprise of +2.27% [13]. Over the last four quarters, the company has consistently beaten consensus EPS estimates [14]. Investment Considerations - Despite the potential for an earnings beat, other factors may influence stock movement, and EQT does not currently appear to be a strong candidate for an earnings surprise, with a Zacks Rank of 4 indicating a bearish outlook [15][17].

Core Viewpoint - EQT Corporation is a leading natural gas producer in the U.S., focusing on the Appalachian Basin, with recent strategic moves expected to enhance its financial performance and market position [1][3]. Company Performance - EQT's recent acquisition of Olympus Energy assets is projected to boost its EBITDA by 21.14% and free cash flow by 24.5%, improving operational efficiency [3][6]. - The company's market capitalization is approximately $34.24 billion, indicating a substantial presence in the energy sector [4]. - EQT's stock has fluctuated over the past year, with a high of $61.02 and a low of $35.45, reflecting active investor interest with a trading volume of 2,521,002 shares today [4]. Stock Ratings and Price Targets - Scotiabank updated EQT's rating to "Sector Perform" and raised the price target from $68 to $70, reflecting cautious optimism about the company's future performance [2][6]. - Despite the price target increase, EQT's current stock price is $54.87, showing a decrease of approximately 2.74% from the previous day [2]. - EQT is rated a "buy" with a fair value target of $81.85, suggesting a potential 46.8% increase from its current stock price, based on robust profit growth and financial stability [5][6].