☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE QUARTERLY PERIOD ENDED MARCH 31, 2025 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE TRANSITION PERIOD FROM__________ TO__________ COMMISSION FILE NUMBER: 001-03551 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q EQT CORPORATION (Exact name of registrant as specified in its charter) Pennsylvania 25-0464690 (State or other j ...

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 due to robust well performance and minimal winter impact [7][10] - The company achieved over $1 billion in free cash flow during the quarter, nearly double the consensus estimates of the next closest natural gas producer [10] - Net debt decreased to $8.1 billion from $9.1 billion at year-end 2024, reflecting significant deleveraging [22] Business Line Data and Key Metrics Changes - The company tactically increased production by 300 million cubic feet per day during the quarter, capitalizing on strong winter demand and robust Appalachia pricing [8][10] - Operating expenses and capital spending were below the low end of guidance, driven by efficiencies and synergies [10][14] - The acquisition of Olympus Energy's assets is expected to enhance free cash flow per share by 4% to 8% over three years at natural gas prices ranging from $2.50 to $5 per million Btu [12] Market Data and Key Metrics Changes - Natural gas prices averaged $3.65 per million Btu during the quarter, contributing to the strong free cash flow generation [10] - The corporate gas price differential is projected to tighten from around $0.60 this year to approximately $0.30 in 2028, providing a $600 million pretax annual free cash flow tailwind [21] Company Strategy and Development Direction - The company is focused on reducing cash flow risk and creating pathways for sustainable cash flow growth, aiming for greater through-cycle free cash flow generation and a higher trading multiple [17] - There is a rapidly expanding pipeline of in-basin demand opportunities, with expectations for 6 to 7 Bcf per day of local demand growth by 2030 [19] - The company plans to opportunistically repurchase shares and steadily grow its base dividend as it de-risks its balance sheet [16] Management's Comments on Operating Environment and Future Outlook - Management expressed a bullish outlook for medium-term gas prices, anticipating a significant increase in LNG demand in 2025 and 2026 [25][32] - The company is confident in its ability to adapt to market conditions and drive operational efficiencies, fueling outsized free cash flow generation [33] - Management noted that the natural gas market is structurally tighter than pricing indicates, with expectations for pricing to move materially higher, particularly in 2026 [32] Other Important Information - The company has captured approximately $360 million in annual synergies from the Equitrans acquisition, with potential for ongoing initiatives to drive additional upside [14] - The Olympus acquisition is expected to close in early Q3, with pro forma guidance to be issued as part of the second quarter earnings [13] Q&A Session Summary Question: On the Olympus acquisition and its impact on levered break-even - Management indicated that the Olympus deal is modestly deleveraging and improves the levered break-even to about $2.35 for 2025 [40] Question: Pricing strategy and allocation of gas - Management explained that as the balance sheet improves, there will be more flexibility to sell into daily markets, enhancing value capture [46] Question: M&A strategy and future consolidation - Management stated that the bar for future acquisitions has been raised, focusing on value and operational efficiency rather than just growth [54][58] Question: In-basin demand opportunities - Management highlighted the growth in in-basin demand due to blocked pipeline projects, positioning EQT well for future gas sales [61] Question: Benefits of data center deals - Management noted that securing supply for data centers is critical, and EQT is well-positioned to provide reliable energy solutions [72] Question: Basis differentials and their impact - Management clarified that about half of the projected $600 million uplift in free cash flow is due to sales deals, with the other half from in-basin dynamics [78] Question: Olympus midstream integration - Management confirmed plans to integrate Olympus' midstream assets with Equitrans to optimize delivery points and enhance value [97] Question: Out-of-basin opportunities - Management emphasized the growing demand for power generation in the region as a key focus area, moving away from LNG [105] Question: Synergy savings specifics - Management detailed that the recent $85 million in synergy savings stemmed from water disposal costs and system optimization efforts [140]

EQT Corp (EQT) Q1 2025 Earnings Call April 23, 2025 10:00 AM ET Company Participants Cameron Horwitz - Managing Director of Investor Relations & StrategyToby Rice - President, CEO and DirectorJeremy Knop - Chief Financial OfficerDevin Mcdermott - Executive DirectorNeil Mehta - Head of Americas Natural Resources Equity ResearchJake Roberts - Director - E&P ResearchScott Gruber - Director - Oilfield Services & Equipment ResearchKevin MacCurdy - Managing DirectorDavid Deckelbaum - Managing Director: Sustainabi ...

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 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 ...