EQT Gears Up to Report Q1 Earnings: What's in the Offing?

EQT Corporation EQT is set to report first-quarter 2022 results on Apr 27, after the closing bell.

In the last reported quarter, the leading independent natural gas production company reported earnings of 41 cents per share, missing the Zacks Consensus Estimate of 51 cents per share due to higher processing and lease operating expenses.

In the trailing four quarters, EQT Corporation beat the Zacks Consensus Estimate for the bottom line thrice and missed once, delivering an earnings surprise of 101.6%, on average. This is depicted in the graph below:

EQT Corporation Price and EPS Surprise

EQT Corporation Price and EPS Surprise

EQT Corporation price-eps-surprise | EQT Corporation Quote

Let’s see how things have shaped up prior to the announcement.

Estimate Trend

The Zacks Consensus Estimate for its first-quarter earnings per share of $1.09 has witnessed five upward and no downward movement in the past 30 days. The consensus estimate suggests a year-over-year increase of 263.3%.

The Zacks Consensus Estimate for the to-be-reported quarter’s revenues of $1.8 billion indicates an 87.8% improvement from the year-ago reported figure.

Factors to Consider

In the March quarter of this year, natural gas and oil prices were much higher than the year-ago quarter. Higher gas and oil prices were favorable for EQT’s exploration and production activities.

The Zacks Consensus Estimate for EQT’s sales volume is pegged at 474,525 million cubic feet (MMcf), suggesting an improvement from 390,298 MMcf in the year-ago quarter.

Higher sales volumes and commodity prices are likely to have aided the bottom line of the leading natural gas producer with a strong footprint in the prolific Marcellus and Utica shale plays.

Earnings Whispers

Our proven model does not indicate an earnings beat for EQT this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy), or 3 (Hold) increases the chances of an earnings beat.

Earnings ESP: EQT has an Earnings ESP of -6.63%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.

Zacks Rank: EQT Corporation currently carries a Zacks Rank #2.

Stocks That Warrant a Look

Here are some companies from the Energy space that you may want to consider, as our model shows that these have the right combination of elements to post an earnings beat in the upcoming quarterly reports:

Matador Resources Company MTDR has an Earnings ESP of +3.30% and is a Zacks #1 Ranked player at present. You can see the complete list of today’s Zacks #1 Rank stocks here.

Matador is scheduled to release first-quarter results on Apr 26. The Zacks Consensus Estimate for Matador’s quarterly earnings is pegged at $2.02 per share, suggesting an increase of 184.5% from the prior-year reported figure.

EOG Resources EOG has an Earnings ESP of +1.02% and is a Zacks #2 Ranked player at present.

EOG Resources is scheduled to release first-quarter results on May 5. The Zacks Consensus Estimate for EOG’s quarterly earnings is pegged at $3.57 per share, suggesting an increase of 120.4% from the prior-year figure.

ConocoPhillips COP has an Earnings ESP of +6.47% and flaunts a Zacks Rank #1.

ConocoPhillips is scheduled to release first-quarter earnings on May 5. The Zacks Consensus Estimate for COP’s earnings is pegged at $3.04 per share, suggesting a massive increase from the prior-year reported figure.

Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.

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