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EQT Corporation (EQT - Free Report) is an integrated energy company that focuses on natural gas supply activities in the Appalachian area, including production and gathering, natural gas distribution and transmission as well as energy efficiency solutions, primarily in the eastern and western coastal regions of the United States. EQT conducts its operations in two segments EQT Production and EQT Midstream.
However, the ongoing oil price slump has impacted the company’s activity levels. This is reflected in the consensus estimate that has moved down in the last few months. In the last four trailing quarters, EQT Corp has reported a positive average earnings surprise of 115%, missing the estimate once.
Currently, EQT Corp has a Zacks Rank #2 (Buy) but that could change following its second quarter 2016 earnings report which has just released. We have highlighted some of the key details from the just-released announcement below:
Earnings: EQT Corp reported loss of 35 cents per share from continuing operations (excluding special items) narrower than the Zacks Consensus Estimate of loss of 46 cents.
Revenue: Net operating revenues of $127.5 million came below the Zacks Consensus Estimate of $436 million.
Key Stats: EQT Production’s second-quarter operating revenue was $72 million, which was $316.8 million lower than the year-ago quarter, in spite of an increase in average daily sales volume by 25.5%.
Operating loss was $444 million compared to operating loss of $66.9 million in the year-ago period.
Under the EQT Midstream segment, net gathering revenues increased 10.6% year over year to $136.4 million, owing to 19% growth in gathered volumes. Net transmission revenues increased 14%. Net storage, marketing and other operating revenues were at $8.2 million, representing a growth of 2%.
Operating income jumped 15% year over year to $124.5 million in the reported quarter.
Check back later for our full write up on this EQT Corp earnings report later!
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EQT (EQT) Posts Narrower-Than-Expected Loss in Q2
EQT Corporation (EQT - Free Report) is an integrated energy company that focuses on natural gas supply activities in the Appalachian area, including production and gathering, natural gas distribution and transmission as well as energy efficiency solutions, primarily in the eastern and western coastal regions of the United States. EQT conducts its operations in two segments EQT Production and EQT Midstream.
However, the ongoing oil price slump has impacted the company’s activity levels. This is reflected in the consensus estimate that has moved down in the last few months. In the last four trailing quarters, EQT Corp has reported a positive average earnings surprise of 115%, missing the estimate once.
Currently, EQT Corp has a Zacks Rank #2 (Buy) but that could change following its second quarter 2016 earnings report which has just released. We have highlighted some of the key details from the just-released announcement below:
Earnings: EQT Corp reported loss of 35 cents per share from continuing operations (excluding special items) narrower than the Zacks Consensus Estimate of loss of 46 cents.
EQT CORP Price and EPS Surprise
EQT CORP Price and EPS Surprise | EQT CORP Quote
Revenue: Net operating revenues of $127.5 million came below the Zacks Consensus Estimate of $436 million.
Key Stats: EQT Production’s second-quarter operating revenue was $72 million, which was $316.8 million lower than the year-ago quarter, in spite of an increase in average daily sales volume by 25.5%.
Operating loss was $444 million compared to operating loss of $66.9 million in the year-ago period.
Under the EQT Midstream segment, net gathering revenues increased 10.6% year over year to $136.4 million, owing to 19% growth in gathered volumes. Net transmission revenues increased 14%. Net storage, marketing and other operating revenues were at $8.2 million, representing a growth of 2%.
Operating income jumped 15% year over year to $124.5 million in the reported quarter.
Check back later for our full write up on this EQT Corp earnings report later!
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>