EQT Corp

Latest Results (17.12.2024):

Revenue and Sales Volume

In the third quarter of 2024, EQT Corp reported a total sales volume of 581 billion cubic feet equivalent (Bcfe), marking an increase from 523 Bcfe in the same period of 2023. The average realized price per thousand cubic feet equivalent (Mcfe) was $2.38, up from $2.28 in the previous year.

Net Income and Earnings Per Share

EQT Corp experienced a net loss of $301 million in the third quarter of 2024, compared to a net income of $81 million in the same quarter of 2023. The diluted loss per share was $0.54, a significant decline from the earnings per share of $0.20 reported in the previous year.

Adjusted Financial Metrics

The adjusted net income for EQT Corp in the third quarter of 2024 was $69 million, down from $126 million in the same period of 2023. Adjusted earnings per share also decreased to $0.12 from $0.30 in the previous year. Adjusted EBITDA showed a positive trend, increasing to $832 million from $521 million in 2023.

Cash Flow and Capital Expenditures

Net cash provided by operating activities for EQT Corp in the third quarter of 2024 was $593 million, an increase from $455 million in the same quarter of 2023. However, capital expenditures rose to $558 million from $445 million, resulting in a negative free cash flow of $121 million compared to a near breakeven position in the previous year.

Debt and Liquidity

As of September 30, 2024, EQT Corp had total debt of $13.8 billion, significantly higher than the $5.8 billion reported at the end of 2023. The company's liquidity, excluding available capacity under Eureka Midstream, was $1.6 billion, with $2.0 billion of borrowings outstanding under its $3.5 billion revolving credit facility.