EQT Corp. (NYSE:EQT) released its second-quarter results after Tuesday's closing bell. Here's a look at the details from the report.
The Details: EQT reported quarterly earnings of 45 cents per share, which beat the analyst consensus estimate of 41 cents. Quarterly revenue came in at $1.59 billion, which missed the Street consensus estimate of $1.79 billion.
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The company reported second quarter sales volume of 568 Bcfe, driven by strong well performance and compression project outperformance. Capital expenditures were $554 million for the quarter, 15% below the mid-point of guidance.
“Second quarter results highlight a continuation of operational excellence and robust financial performance at EQT. Production was at the high-end of guidance, benefiting from strong well productivity and compression project outperformance,” CEO Toby Z. Rice stated.
Outlook: EQT updated its fiscal 2025 guidance to reflect the Olympus Acquisition by increasing annual production guidance by 100 Bcfe, lowering full-year per-unit operating cost guidance by six cents per Mcfe with no change to 2025 capital spending.
EQT Price Action: According to data from Benzinga Pro, EQT stock was up 1.21% at $55 in Tuesday's extended trading.
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