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]

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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]

Wall Street expects a year-over-year increase in earnings on higher revenues when EQT Corporation (EQT) reports results for the quarter ended September 2025. While this widely-known consensus outlook is important in gauging the company's earnings picture, a powerful factor that could impact its near-term stock price is how the actual results compare to these estimates.The stock might move higher if these key numbers top expectations in the upcoming earnings report, which is expected to be released on Octobe ...

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].