EQT Corp

Latest Results (24.10.2025):

EQT Corporation reported robust financial and operational performance in the second quarter of 2025, exceeding production guidance, managing capital expenditures efficiently, and generating significant free cash flow. The strategic acquisition of Equitrans Midstream continues to enhance the company's operational synergies and growth prospects.

Production and Sales Volume

EQT Corp achieved sales volume of 568 Bcfe in Q2 2025, reaching the high end of guidance thanks to strong well performance and overperformance in compression projects.

Capital Expenditures

Capital expenditures totaled $554 million, which is 15% below the mid-point of guidance, reflecting ongoing efficiency gains and optimization of midstream projects.

Operating Costs

Total per unit operating costs were $1.08 per Mcfe, falling below the low end of guidance due to lower-than-expected lease operating expenses (LOE) and selling, general, and administrative (SG&A) expenses.

Cash Flow

The company generated $1,242 million in net cash from operating activities and $240 million in free cash flow attributable to EQT, after accounting for a $134 million net expense related to a securities class action settlement.

Balance Sheet

EQT Corp reduced its total debt to $8.3 billion and net debt to $7.8 billion as of June 30, 2025, marking a decrease of approximately $1.4 billion from the end of 2024.

Updated Guidance

For the full year 2025, EQT Corp has increased its production guidance by 100 Bcfe, lowered per-unit operating cost guidance by 6 cents per Mcfe, and maintained its capital expenditure outlook at $2,300–$2,450 million, leveraging efficiency gains to offset the impact of the Olympus Acquisition.