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Is a Beat in the Offing for EQT Corp's (EQT) Q3 Earnings?
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EQT Corporation (EQT - Free Report) is set to report third-quarter 2022 results on Oct 26, after the closing bell.
In the last reported quarter, EQT Corp’s adjusted earnings from continuing operations of 83 cents per share beat the Zacks Consensus Estimate of 81 cents due to higher cubic feet equivalent production and realized commodity prices.
In the trailing four quarters, EQT Corp beat the Zacks Consensus Estimate for earnings twice and missed the same twice, delivering a beat of 75.2%, on average. This is depicted in the graph below:
The Zacks Consensus Estimate for EQT Corp’s third-quarter earnings per share of $1.11 has witnessed four upward revisions and two downward movements in the past 30 days. The consensus estimate suggests an increase of 825% from the year-ago reported number.
The Zacks Consensus Estimate for the to-be-reported quarter’s revenues of $1.8 billion indicates a 52.6% improvement from the year-ago reported figure.
Earnings Whispers
Our proven model conclusively predicts an earnings beat for EQT Corp 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 Corp has an Earnings ESP of +23.99%. This is because the Most Accurate Estimate is currently pegged at earnings of $1.37 per share, whereas the Zacks Consensus Estimate is pinned at $1.11 per share. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: EQT Corp currently carries a Zacks Rank #2.
Key Factors
Natural gas prices were considerably higher in the September-end quarter of this year. Higher gas prices were favorable for the exploration and production operations of EQT Corp in the to-be-reported quarter since the firm has a strong footprint in the cores of the Marcellus and Utica Shales in the Appalachian Basin.
The Zacks Consensus Estimate for EQT’s total sales volume is pegged at 504,289 million cubic feet of natural gas equivalent (MMcfe), suggesting an improvement from 495,013 MMcfe reported in the year-ago quarter. We expect the company’s total sales volume to be 506,788.1 MMcfe.
The Zacks Consensus Estimate for EQT’s natural gas sales volume is pegged at 478,747 million cubic feet (MMcf), suggesting an improvement from 464,574 MMcf reported in the year-ago quarter. Our estimate for the company’s total sales volume is projected to be 476,901.7 MMcf.
Higher sales volumes and commodity prices are likely to have aided the leading natural gas producer’s bottom line in the third quarter.
Other Stocks That Warrant a Look
Here are some other firms that you may want to consider, as these, too, have the right combination of elements to post an earnings beat in the upcoming quarterly reports:
Core Laboratories is scheduled to release third-quarter results on Oct 26. The Zacks Consensus Estimate for CLB’s earnings is pegged at 15 cents per share, suggesting a decline from the prior-year reported figure.
Comstock Resources, Inc. (CRK - Free Report) has an Earnings ESP of +4.75% and currently flaunts a Zacks Rank of 1.
Comstock is scheduled to report third-quarter results on Nov 1. The Zacks Consensus Estimate for CRK’s earnings is pegged at $1.15 per share, suggesting a significant increase from the prior-year reported figure.
Halliburton Company (HAL - Free Report) has an Earnings ESP of +1.54% and a Zacks Rank #2 at present.
Halliburton is scheduled to release third-quarter earnings on Oct 25. The Zacks Consensus Estimate for HAL’s earnings is pegged at 56 cents per share, suggesting a 100% increase from the prior-year reported figure.
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Is a Beat in the Offing for EQT Corp's (EQT) Q3 Earnings?
EQT Corporation (EQT - Free Report) is set to report third-quarter 2022 results on Oct 26, after the closing bell.
In the last reported quarter, EQT Corp’s adjusted earnings from continuing operations of 83 cents per share beat the Zacks Consensus Estimate of 81 cents due to higher cubic feet equivalent production and realized commodity prices.
In the trailing four quarters, EQT Corp beat the Zacks Consensus Estimate for earnings twice and missed the same twice, delivering a beat of 75.2%, on average. This is depicted in the graph below:
EQT Corporation Price and EPS Surprise
EQT Corporation price-eps-surprise | EQT Corporation Quote
Estimate Trend
The Zacks Consensus Estimate for EQT Corp’s third-quarter earnings per share of $1.11 has witnessed four upward revisions and two downward movements in the past 30 days. The consensus estimate suggests an increase of 825% from the year-ago reported number.
The Zacks Consensus Estimate for the to-be-reported quarter’s revenues of $1.8 billion indicates a 52.6% improvement from the year-ago reported figure.
Earnings Whispers
Our proven model conclusively predicts an earnings beat for EQT Corp 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 Corp has an Earnings ESP of +23.99%. This is because the Most Accurate Estimate is currently pegged at earnings of $1.37 per share, whereas the Zacks Consensus Estimate is pinned at $1.11 per share. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: EQT Corp currently carries a Zacks Rank #2.
Key Factors
Natural gas prices were considerably higher in the September-end quarter of this year. Higher gas prices were favorable for the exploration and production operations of EQT Corp in the to-be-reported quarter since the firm has a strong footprint in the cores of the Marcellus and Utica Shales in the Appalachian Basin.
The Zacks Consensus Estimate for EQT’s total sales volume is pegged at 504,289 million cubic feet of natural gas equivalent (MMcfe), suggesting an improvement from 495,013 MMcfe reported in the year-ago quarter. We expect the company’s total sales volume to be 506,788.1 MMcfe.
The Zacks Consensus Estimate for EQT’s natural gas sales volume is pegged at 478,747 million cubic feet (MMcf), suggesting an improvement from 464,574 MMcf reported in the year-ago quarter. Our estimate for the company’s total sales volume is projected to be 476,901.7 MMcf.
Higher sales volumes and commodity prices are likely to have aided the leading natural gas producer’s bottom line in the third quarter.
Other Stocks That Warrant a Look
Here are some other firms that you may want to consider, as these, too, have the right combination of elements to post an earnings beat in the upcoming quarterly reports:
Core Laboratories N.V. (CLB - Free Report) has an Earnings ESP of +1.70% and is a Zacks #2 Ranked player at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
Core Laboratories is scheduled to release third-quarter results on Oct 26. The Zacks Consensus Estimate for CLB’s earnings is pegged at 15 cents per share, suggesting a decline from the prior-year reported figure.
Comstock Resources, Inc. (CRK - Free Report) has an Earnings ESP of +4.75% and currently flaunts a Zacks Rank of 1.
Comstock is scheduled to report third-quarter results on Nov 1. The Zacks Consensus Estimate for CRK’s earnings is pegged at $1.15 per share, suggesting a significant increase from the prior-year reported figure.
Halliburton Company (HAL - Free Report) has an Earnings ESP of +1.54% and a Zacks Rank #2 at present.
Halliburton is scheduled to release third-quarter earnings on Oct 25. The Zacks Consensus Estimate for HAL’s earnings is pegged at 56 cents per share, suggesting a 100% increase from the prior-year reported figure.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.