We use cookies to understand how you use our site and to improve your experience.
This includes personalizing content and advertising.
By pressing "Accept All" or closing out of this banner, you consent to the use of all cookies and similar technologies and the sharing of information they collect with third parties.
You can reject marketing cookies by pressing "Deny Optional," but we still use essential, performance, and functional cookies.
In addition, whether you "Accept All," Deny Optional," click the X or otherwise continue to use the site, you accept our Privacy Policy and Terms of Service, revised from time to time.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
EQT Q3 Earnings Beat Estimates on Higher Total Sales Volumes
Read MoreHide Full Article
Key Takeaways
EQT's Q3 adjusted EPS rose to $0.52, topping estimates and up from $0.12 a year earlier.
Higher gas prices and increased total sales volumes boosted quarterly results despite lower oil prices.
EQT raised its quarterly dividend to 16.50 cents per share, reflecting a 5% sequential increase.
EQT Corporation (EQT - Free Report) reported third-quarter 2025 adjusted earnings from continuing operations of 52 cents per share, which beat the Zacks Consensus Estimate of 47 cents. The bottom line increased from the year-ago quarter’s figure of 12 cents.
Adjusted operating revenues increased to $1,753 million from $1,383 million in the prior-year quarter. However, the top line missed the Zacks Consensus Estimate of $1,804 million.
The strong quarterly earnings were driven by an increase in total sales volume and a higher natural gas sales price. However, a decline in oil prices partially offset these positives.
EQT announced a quarterly cash dividend of 16.50 cents per share for the third quarter of 2025 (annualized dividend of 66 cents), reflecting a sequential increase of approximately 5%. The dividend is payable on Dec. 1, 2025, to shareholders of record as of Nov. 5, 2025.
Production
Sales volume increased to 634 billion cubic feet equivalent (Bcfe) from the year-ago level of 581 Bcfe. The reported figure, however, missed our estimate of 638 Bcfe.
Natural gas sales volume was 596 Bcf, up from 547 Bcf in the year-ago quarter. The figure came in below our estimate of 604 Bcf.
The total liquid sales volume was 6,459 thousand barrels (MBbls), up from the year-ago level of 5,699 MBbls. The figure exceeded our projection of 5,748 MBbls.
Commodity Price Realizations
The average realized price was $2.76 per thousand cubic feet of natural gas equivalent (Mcfe), up from the year-ago figure of $2.38.
The average natural gas price, including cash-settled derivatives, was $2.66 per Mcf, which increased year over year from $2.23.
The natural gas sales price was $3.24 per Mcf, higher than $2.27 recorded a year ago.
However, the oil price was $49.12 per barrel compared with the year-ago figure of $61.25. Our estimate for the same was pinned at $50.07 per barrel.
Expenses
Total operating expenses were $1.36 billion, lower than $1.57 billion reported in the prior-year quarter.
Gathering expenses totaled 6 cents per Mcfe, down from the year-ago level of 20 cents. Transmission expenses totaled 40 cents per Mcfe, down from 43 cents recorded a year ago. Lease operating expenses amounted to 9 cents per Mcfe, flat year over year. Selling, general and administrative expenses came in at 16 cents per Mcfe, lower than the year-ago level of 15 cents.
Cash Flows
EQT’s adjusted operating cash flow totaled $1.22 billion in the reported quarter, up from $522 million a year ago. The free cash flow totaled $601 million, up from a negative free cash flow of $121 million in the corresponding period of 2024.
Capex & Balance Sheet
Total capital expenditure was $618 million, higher than $558 million reported a year ago.
As of Sep. 30, 2025, the company had cash and cash equivalents of $236 million and net debt worth $7.98 billion.
Guidance
For the fourth quarter of 2025, EQT expects total sales volume to be between 550 and 600 Bcfe. EQT updated the total sales volume forecast to 2,325-2,375 Bcfe for 2025. Capital expenditures are projected to be in the band of $635-$735 million for the fourth quarter. For the full year, total capital expenditures are expected to be in the range of $2,300-$2,400 million.
Cheniere Energy is involved in LNG-related businesses, which include LNG terminals and natural gas marketing. The company has achieved a milestone with the first production from the first LNG train of its Corpus Christi Stage 3 Liquefaction Project. The project, which includes seven midscale LNG trains, aims to expand the production capacity of the Corpus Christi Liquefaction facility. This expansion is expected to strengthen Cheniere's position in the rapidly growing global LNG market, enabling it to meet the rising demand for LNG both in the United States and internationally.
Archrock is an energy infrastructure company based in the United States with a focus on midstream natural gas compression. It provides natural gas contract compression services and generates stable fee-based revenues. With natural gas playing an increasingly important role in the energy transition journey, AROC is expected to witness sustained demand for its services.
TechnipFMC plcis a leading manufacturer and supplier of products, services and fully integrated technology solutions for the energy industry. FTI’s project backlog, now at $15.8 billion, has grown sequentially in six of the last seven quarters, reinforcing long-term revenue visibility for the company.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
EQT Q3 Earnings Beat Estimates on Higher Total Sales Volumes
Key Takeaways
EQT Corporation (EQT - Free Report) reported third-quarter 2025 adjusted earnings from continuing operations of 52 cents per share, which beat the Zacks Consensus Estimate of 47 cents. The bottom line increased from the year-ago quarter’s figure of 12 cents.
Adjusted operating revenues increased to $1,753 million from $1,383 million in the prior-year quarter. However, the top line missed the Zacks Consensus Estimate of $1,804 million.
The strong quarterly earnings were driven by an increase in total sales volume and a higher natural gas sales price. However, a decline in oil prices partially offset these positives.
EQT Corporation Price, Consensus and EPS Surprise
EQT Corporation price-consensus-eps-surprise-chart | EQT Corporation Quote
Dividend Hike
EQT announced a quarterly cash dividend of 16.50 cents per share for the third quarter of 2025 (annualized dividend of 66 cents), reflecting a sequential increase of approximately 5%. The dividend is payable on Dec. 1, 2025, to shareholders of record as of Nov. 5, 2025.
Production
Sales volume increased to 634 billion cubic feet equivalent (Bcfe) from the year-ago level of 581 Bcfe. The reported figure, however, missed our estimate of 638 Bcfe.
Natural gas sales volume was 596 Bcf, up from 547 Bcf in the year-ago quarter. The figure came in below our estimate of 604 Bcf.
The total liquid sales volume was 6,459 thousand barrels (MBbls), up from the year-ago level of 5,699 MBbls. The figure exceeded our projection of 5,748 MBbls.
Commodity Price Realizations
The average realized price was $2.76 per thousand cubic feet of natural gas equivalent (Mcfe), up from the year-ago figure of $2.38.
The average natural gas price, including cash-settled derivatives, was $2.66 per Mcf, which increased year over year from $2.23.
The natural gas sales price was $3.24 per Mcf, higher than $2.27 recorded a year ago.
However, the oil price was $49.12 per barrel compared with the year-ago figure of $61.25. Our estimate for the same was pinned at $50.07 per barrel.
Expenses
Total operating expenses were $1.36 billion, lower than $1.57 billion reported in the prior-year quarter.
Gathering expenses totaled 6 cents per Mcfe, down from the year-ago level of 20 cents. Transmission expenses totaled 40 cents per Mcfe, down from 43 cents recorded a year ago. Lease operating expenses amounted to 9 cents per Mcfe, flat year over year. Selling, general and administrative expenses came in at 16 cents per Mcfe, lower than the year-ago level of 15 cents.
Cash Flows
EQT’s adjusted operating cash flow totaled $1.22 billion in the reported quarter, up from $522 million a year ago. The free cash flow totaled $601 million, up from a negative free cash flow of $121 million in the corresponding period of 2024.
Capex & Balance Sheet
Total capital expenditure was $618 million, higher than $558 million reported a year ago.
As of Sep. 30, 2025, the company had cash and cash equivalents of $236 million and net debt worth $7.98 billion.
Guidance
For the fourth quarter of 2025, EQT expects total sales volume to be between 550 and 600 Bcfe. EQT updated the total sales volume forecast to 2,325-2,375 Bcfe for 2025. Capital expenditures are projected to be in the band of $635-$735 million for the fourth quarter. For the full year, total capital expenditures are expected to be in the range of $2,300-$2,400 million.
EQT’s Zacks Rank and Key Picks
EQTcurrently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks from the energy sector are Cheniere Energy Inc. (LNG - Free Report) , Archrock, Inc. (AROC - Free Report) and TechnipFMC plc (FTI - Free Report) . While Cheniere Energy sports a Zacks Rank #1 (Strong Buy) at present, Archrock and TechnipFMC carry a Zacks Rank #2 (Buy) each. You can see the complete list of today’s Zacks #1 Rank stocks here.
Cheniere Energy is involved in LNG-related businesses, which include LNG terminals and natural gas marketing. The company has achieved a milestone with the first production from the first LNG train of its Corpus Christi Stage 3 Liquefaction Project. The project, which includes seven midscale LNG trains, aims to expand the production capacity of the Corpus Christi Liquefaction facility. This expansion is expected to strengthen Cheniere's position in the rapidly growing global LNG market, enabling it to meet the rising demand for LNG both in the United States and internationally.
Archrock is an energy infrastructure company based in the United States with a focus on midstream natural gas compression. It provides natural gas contract compression services and generates stable fee-based revenues. With natural gas playing an increasingly important role in the energy transition journey, AROC is expected to witness sustained demand for its services.
TechnipFMC plcis a leading manufacturer and supplier of products, services and fully integrated technology solutions for the energy industry. FTI’s project backlog, now at $15.8 billion, has grown sequentially in six of the last seven quarters, reinforcing long-term revenue visibility for the company.