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EQT Corporation (EQT) Reports Q2 Earnings: What Key Metrics Have to Say
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EQT Corporation (EQT - Free Report) reported $993.08 million in revenue for the quarter ended June 2023, representing a year-over-year decline of 38.4%. EPS of -$0.17 for the same period compares to $0.83 a year ago.
The reported revenue represents a surprise of +2.91% over the Zacks Consensus Estimate of $964.98 million. With the consensus EPS estimate being -$0.27, the EPS surprise was +37.04%.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how EQT Corporation performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Average Sales Price - Crude oil: $49.71 versus $59.90 estimated by 13 analysts on average.
Sales Volume - Total: 449658 MMcfe versus 479284 MMcfe estimated by 12 analysts on average.
Natural Gas Sales Volumes: 449658 MMcf versus 455895.4 MMcf estimated by 11 analysts on average.
Crude Oil Sales Volumes: 293 MBBL versus the 10-analyst average estimate of 375.06 MBBL.
Average natural gas price, including cash settled derivatives: $2.03 versus the eight-analyst average estimate of $2.15.
Average sales price - Natural gas: $2.2 per thousand cubic feet versus $2.13 per thousand cubic feet estimated by seven analysts on average.
Average Sales price - NGL: $30.07 versus the four-analyst average estimate of $34.64.
Ethane Sales Volume: 1291 MBBL compared to the 1511.86 MBBL average estimate based on four analysts.
NGL sales Volumes (NGL and Ethane): 3237 MBBL versus 2180.39 MBBL estimated by four analysts on average.
Operating revenues- Sales of natural gas, natural gas liquids and oil: $848.33 million compared to the $1.07 billion average estimate based on 12 analysts. The reported number represents a change of -74.8% year over year.
Operating revenues- Net marketing services and other: $6.04 million versus the 10-analyst average estimate of $5.74 million.
Operating revenues- Gain (loss) on derivatives: $164.39 million compared to the $265.66 million average estimate based on five analysts.
Shares of EQT Corporation have returned -1.7% over the past month versus the Zacks S&P 500 composite's +5.1% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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EQT Corporation (EQT) Reports Q2 Earnings: What Key Metrics Have to Say
EQT Corporation (EQT - Free Report) reported $993.08 million in revenue for the quarter ended June 2023, representing a year-over-year decline of 38.4%. EPS of -$0.17 for the same period compares to $0.83 a year ago.
The reported revenue represents a surprise of +2.91% over the Zacks Consensus Estimate of $964.98 million. With the consensus EPS estimate being -$0.27, the EPS surprise was +37.04%.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how EQT Corporation performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Average Sales Price - Crude oil: $49.71 versus $59.90 estimated by 13 analysts on average.
- Sales Volume - Total: 449658 MMcfe versus 479284 MMcfe estimated by 12 analysts on average.
- Natural Gas Sales Volumes: 449658 MMcf versus 455895.4 MMcf estimated by 11 analysts on average.
- Crude Oil Sales Volumes: 293 MBBL versus the 10-analyst average estimate of 375.06 MBBL.
- Average natural gas price, including cash settled derivatives: $2.03 versus the eight-analyst average estimate of $2.15.
- Average sales price - Natural gas: $2.2 per thousand cubic feet versus $2.13 per thousand cubic feet estimated by seven analysts on average.
- Average Sales price - NGL: $30.07 versus the four-analyst average estimate of $34.64.
- Ethane Sales Volume: 1291 MBBL compared to the 1511.86 MBBL average estimate based on four analysts.
- NGL sales Volumes (NGL and Ethane): 3237 MBBL versus 2180.39 MBBL estimated by four analysts on average.
- Operating revenues- Sales of natural gas, natural gas liquids and oil: $848.33 million compared to the $1.07 billion average estimate based on 12 analysts. The reported number represents a change of -74.8% year over year.
- Operating revenues- Net marketing services and other: $6.04 million versus the 10-analyst average estimate of $5.74 million.
- Operating revenues- Gain (loss) on derivatives: $164.39 million compared to the $265.66 million average estimate based on five analysts.
View all Key Company Metrics for EQT Corporation here>>>Shares of EQT Corporation have returned -1.7% over the past month versus the Zacks S&P 500 composite's +5.1% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.