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EQT (EQT) Q1 Earnings Miss Estimates

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An Earnings Miss: EQT Corporation (EQT) reported first quarter income per share of $1.01, lower than the Zacks Consensus Estimate of $1.05.

Estimate Revision Trend & Surprise History: Investors should note that the Zacks Consensus Estimate has seen four upward revision and one downward revisions in the last thirty days.

Nonetheless, EQT has an impressive earnings surprise history. Before posting the earnings in Q1, the company delivered positive surprises in three of the prior four quarters. Overall, the company has a positive earnings surprise of 150.8% in the trailing four quarters.

EQT Corporation Price and EPS Surprise


EQT Corporation Price and EPS Surprise | EQT Corporation Quote

Revenues: EQT posted revenues of $1,433.6 million, beating the Zacks Consensus Estimate of $1,360 million. Also, it compared increased from the year-ago number of $894.2 million.

Key Stats: EQT Production's first-quarter operating revenues were $1,348.6 million compared with $828.7 million in the year-ago quarter. The company clocked sales volume of 357 billion cubic feet equivalent (Bcfe) in the first quarter, up 88% year over year.

Operating loss in the first quarter was $1,893.8 million, compared to an operating income of $257.5 million in the year-ago period.

In the EQT Gathering segment, net gathering revenues increased 23% year over year to $125.9 million due to 23.9% higher gathered volumes. Operating income jumped 34.2% year over year to $98.9 million in the reported quarter.

Net transmission revenue grew 9.4% to $106.9 million. Operating income grew 11% year over year to $79.5 million in the reported quarter.

Zacks Rank: Currently, EQT carries a Zacks Rank #3 (Hold) which is subject to change following the earnings announcement. While things apparently look favorable, it all depends on what sense the just-released report makes to the analysts.

(You can see the complete list of today’s Zacks #1 Rank stocks here)

Check back later for our full write up on this EQT Corp earnings report later!

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