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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. In the last four trailing quarters, EQT Corp has reported a positive average earnings surprise of 163.71%, beating the estimate in all the four quarters.
Zacks Rank: Currently, EQT Corp. has a Zacks Rank #3 (Hold) but that could change following its first quarter 2017 earnings report which has just released. You can see the complete list of today’s Zacks #1 Rank stocks here.
Earnings: EQT Corp’s earnings of 43 cents per share from continuing operations (excluding special items) lagged the Zacks Consensus Estimate of 45 cents.
Revenue: Net operating revenues of $897.5 million beat the Zacks Consensus Estimate of $722.65 million.
Key Stats: EQT Production reported first-quarter operating revenues of $828.7 million, up 71.3% year over year.
Operating income was $257.4 million. The segment had incurred a loss of $5.5 million in 1Q16.
In the EQT Gathering segment, net gathering revenues increased 4.4% year over year to $102.3 million due to 3% higher gathered volumes.
Operating income jumped 1.4% year over year to $73.6 million in the reported quarter.
In the EQT Transmission segment, net transmission revenue grew 15.2% to $101.1 million.
Operating income jumped 11% year over year to $71.5 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) Earnings in Q1 Lag, Revenues Beat
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. In the last four trailing quarters, EQT Corp has reported a positive average earnings surprise of 163.71%, beating the estimate in all the four quarters.
Zacks Rank: Currently, EQT Corp. has a Zacks Rank #3 (Hold) but that could change following its first quarter 2017 earnings report which has just released. You can see the complete list of today’s Zacks #1 Rank stocks here.
Earnings: EQT Corp’s earnings of 43 cents per share from continuing operations (excluding special items) lagged the Zacks Consensus Estimate of 45 cents.
EQT Corporation Price and EPS Surprise
EQT Corporation Price and EPS Surprise | EQT Corporation Quote
Revenue: Net operating revenues of $897.5 million beat the Zacks Consensus Estimate of $722.65 million.
Key Stats: EQT Production reported first-quarter operating revenues of $828.7 million, up 71.3% year over year.
Operating income was $257.4 million. The segment had incurred a loss of $5.5 million in 1Q16.
In the EQT Gathering segment, net gathering revenues increased 4.4% year over year to $102.3 million due to 3% higher gathered volumes.
Operating income jumped 1.4% year over year to $73.6 million in the reported quarter.
In the EQT Transmission segment, net transmission revenue grew 15.2% to $101.1 million.
Operating income jumped 11% year over year to $71.5 million in the reported quarter.
Check back later for our full write up on this EQT Corp earnings report later!
Looking for Ideas with Even Greater Upside?
Most of Zacks’ investment ideas are short-term, directly based on our proven 1 to 3 month indicator. In addition, I invite you to consider our long-term opportunities. These rare trades look to start fast with strong Zacks Ranks, but carry through with double and triple-digit profit potential. Starting now, you can look inside our home run, value, and stocks under $10 portfolios, plus more. Click here for a peek at this private information>>