Financial Data and Key Metrics Changes - The first quarter of 2025 generated the strongest financial results in recent company history, with production at the high end of guidance and free cash flow exceeding $1 billion [5][6][14] - Operating expenses and capital spending were below the low end of guidance, leading to nearly double the consensus free cash flow estimates of the next closest natural gas producer [6][14] - Net debt decreased from $9.1 billion at year-end 2024 to $8.1 billion at the end of Q1 2025, with a target of $5 billion in net debt by mid-2026 [14][15] Business Line Data and Key Metrics Changes - The company tactically increased production by 300 million cubic feet per day during the quarter, driven by strong well performance and minimal winter impact [5] - The acquisition of Olympus Energy's assets is expected to enhance free cash flow per share by 4% to 8% over three years, with a purchase price of $1.8 billion at an attractive 3.4 times adjusted EBITDA multiple [6][7] Market Data and Key Metrics Changes - Natural gas prices averaged $3.65 per million BTU during the quarter, with expectations for a tightening of the corporate gas price differential from $0.60 to $0.30 by 2028 [6][13] - The company anticipates local demand growth of 6 to 7 Bcf per day by 2030, driven by new power generation and data center projects in Appalachia [10][11] Company Strategy and Development Direction - The company aims to reduce cash flow risk and create pathways for sustainable cash flow growth, focusing on operational efficiencies and strategic acquisitions [10][21] - The integrated nature of the Olympus assets is expected to drive synergies and enhance the company's ability to capture local demand opportunities [7][11] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the natural gas market being structurally tighter than pricing indicated, with expectations for higher gas prices in 2026 due to increasing LNG demand [16][21] - The company is optimistic about its ability to adapt to market conditions and continue generating free cash flow, with a clear path for sustained momentum [22] Other Important Information - The company has captured approximately $360 million in annual savings from the Equitrans acquisition, with ongoing initiatives expected to drive additional upside [8] - The Olympus acquisition is expected to close in early Q3 2025, with pro forma guidance to be issued as part of the second quarter earnings [8] Q&A Session Summary Question: What does the Olympus acquisition do to your levered breakeven? - Management indicated that the levered breakeven is approximately $2.35 for 2025, with the acquisition modestly improving the unlevered metrics [25][27] Question: Can you elaborate on the in-basin demand opportunities? - Management highlighted that the blocking of pipeline projects has increased in-basin demand, with ongoing discussions for gas supply solutions [42][45] Question: How do you view the pricing strategy moving forward? - Management noted that as the balance sheet improves, there will be more flexibility to sell into daily markets, capturing more value [30][32] Question: What are the strategic and financial boxes for further M&A? - Management stated that the bar for acquisitions has been raised, focusing on value and the power of the existing platform [36][38] Question: Are there any out-of-basin opportunities to consider? - Management emphasized the growing demand for power generation in the region as a key opportunity, particularly related to data centers [82][84]

Industry Overview - The Zacks Oil and Gas - Exploration and Production - United States industry is experiencing a mixed outlook, with OPEC revising its 2025 oil demand growth forecast down to 1.3 million barrels per day due to sluggish global consumption and rising U.S. tariffs [1][3] - Natural gas prices have surged, increasing 44% in 2024 and another 13% in Q1 2025, driven by cold weather, tight supply, and strong global demand [1][4] - The clean energy transition poses a long-term risk to fossil fuel demand as renewables and electric vehicles gain traction [1][5] Key Trends - OPEC's downward revision of oil demand growth reflects concerns over slower consumption and trade dynamics affected by U.S. tariffs [3] - Natural gas fundamentals indicate tight supply and strong demand, with prices reaching a two-year high of $4.491 [4] - The shift towards clean energy could lead to a structural decline in traditional oil demand over the next 5 to 10 years [5] Industry Performance - The Zacks Oil and Gas - US E&P industry ranks 192 out of 246 Zacks industries, placing it in the bottom 22% [6] - The industry's earnings estimates for 2025 have decreased by 33.7% over the past year, indicating a negative earnings outlook [7] - Over the past year, the industry has declined by 32.9%, underperforming both the broader Zacks Oil - Energy Sector and the S&P 500 [9] Valuation Metrics - The industry is currently trading at an EV/EBITDA ratio of 10.70X, lower than the S&P 500's 15.58X but above the sector's 4.36X [13] - Historical trading ranges for the industry show a high of 15.45X and a low of 3.56X over the past five years [13] Investment Opportunities - HighPeak Energy is highlighted as a strong investment opportunity, with a projected 92.5% increase in 2025 earnings and a 45% upward revision in earnings estimates over the past 60 days [15][16] - EQT Corporation, the largest natural gas producer in the U.S., has an expected EPS growth rate of 51.2% over the next three to five years, with an 11% increase in earnings estimates recently [18][19] - Antero Resources shows a remarkable projected 1,514.3% year-over-year growth in 2025 earnings, with a strong production outlook from its low-cost drilling inventory [20][21]

EQT Corporation (EQT) reported first-quarter 2024 adjusted earnings from continuing operations of $1.18 per share, which beat the Zacks Consensus Estimate of $1.02. The bottom line increased from the year-ago reported figure of 82 cents. (Find the latest EPS estimates and surprises on Zacks Earnings Calendar.)Adjusted operating revenues increased to $2,153 million from $1,720 million in the prior-year quarter. The top line beat the Zacks Consensus Estimate of $2,147 million.The strong quarterly results were ...

EQT Corporation (EQT) came out with quarterly earnings of $1.18 per share, beating the Zacks Consensus Estimate of $1.02 per share. This compares to earnings of $0.82 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of 15.69%. A quarter ago, it was expected that this company would post earnings of $0.50 per share when it actually produced earnings of $0.69, delivering a surprise of 38%. Over the last four quarters, the company ha ...

EQT Reports First Quarter 2025 Results (1) A non-GAAP financial measure. See the Non-GAAP Disclosures section of this news release for the definition of, and other important information regarding, this non-GAAP financial measure. (2) Consideration is comprised of $500 million in cash and approximately 26 million shares of EQT common stock representing $1.3 billion, based on the 20-day volume-weighted average price of EQT common stock as of April 21, 2025. (3) EQT expects the assets to be acquired from Olymp ...

PITTSBURGH, April 22, 2025 /PRNewswire/ -- EQT Corporation (NYSE: EQT) today announced financial and operational results for the first quarter of 2025.First Quarter 2025 and Recent Highlights: Production: Sales volume of 571 Bcfe, at the high-end of guidance driven by strong well performance and minimal winter weather impact from integrated midstream coordination Capital Expenditures: $497 million, 19% below the mid-point of guidance due to lower-than-expected completions, land and midstream spending Realiz ...

Core Viewpoint - EQT Corporation has been upgraded to a Zacks Rank 2 (Buy), indicating a positive outlook on its earnings estimates, which significantly influence stock prices [1][3]. Earnings Estimates and Stock Price Movement - The Zacks rating system is based on changes in earnings estimates, which are strongly correlated with near-term stock price movements [4][6]. - Rising earnings estimates for EQT suggest an improvement in the company's underlying business, likely leading to increased stock prices [5][10]. Zacks Rating System - The Zacks Rank system classifies stocks into five groups based on earnings estimates, with a strong historical performance, particularly for Zacks Rank 1 stocks, which have averaged a +25% annual return since 1988 [7][9]. - Only the top 20% of Zacks-covered stocks receive a 'Strong Buy' or 'Buy' rating, indicating superior earnings estimate revisions [10]. Specific Earnings Estimates for EQT - For the fiscal year ending December 2025, EQT is expected to earn $3.48 per share, reflecting a 116.2% increase from the previous year [8]. - Over the past three months, the Zacks Consensus Estimate for EQT has increased by 3.7%, indicating a positive trend in earnings expectations [8].

For those looking to find strong Oils-Energy stocks, it is prudent to search for companies in the group that are outperforming their peers. EQT Corporation (EQT) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? By taking a look at the stock's year-to-date performance in comparison to its Oils-Energy peers, we might be able to answer that question.EQT Corporation is one of 246 individual stocks in the Oils-Energy sector. ...

The macroeconomic backdrop for EQT Corporation (NYSE: EQT ) is strengthening as domestic gas demand becomes more heavily in focus and as hyperscalers turn to the commodity to power their large-scale data centers. With the growingMichael Del Monte is a buy-side equity analyst with over 5 years of industry experience. Prior to working in the investment management industry, Michael spent over a decade in professional services working across industries that include O&G, OFS, Midstream, Industrials, Information ...

EQT Corporation (EQT) is set to report first-quarter 2025 results on April 22, after the closing bell.In the last reported quarter, its adjusted earnings of 69 cents per share beat the Zacks Consensus Estimate of 50 cents, primarily driven by higher sales volume, increased average realized prices and lower total operating expenses.Earnings surpassed the Zacks Consensus Estimate in each of the trailing four quarters, with the average surprise being 65.5%. This is depicted in the graph below:Estimate TrendThe ...