Markets
EQT

EQT Corporation (EQT) Shares Misses on Q3 Earnings, Beats Revenue

EQT CorporationEQT 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. This is reflected in the consensus estimate that has moved down in the last few months. In the last four trailing quarters, EQT Corp has reported a positive average earnings surprise of 71.59%, missing the estimate once.

Currently, EQT Corp has a Zacks Rank #3 (Hold) but that could change following its first quarter 2015 earnings report which has just released. We have highlighted some of the key details from the just-released announcement below:

Earnings : EQT Corp misses on earnings. Loss per share from continuing operations (excluding special items) came in at 33 cents per share, which compared unfavourably with the Zacks Consensus Estimate of loss of 22 cents.

Revenue : Net operating revenues of $577 million came above the Zacks Consensus Estimate of $437 million.

Key Stats : EQT Production's third quarter operating revenue decreased 43% year over year to $188.5 million in spite of an increase in average daily sales volume by nearly 27%.

Operating loss was $72 million, down 33% year over year.

Under the EQT Midstream segment, net operating revenues increased 17% year over year to $195.3 million, owing to 23% growth in gathered volumes. Net transmission revenues increased 12%. Net storage, marketing and other operating revenues were $6.7 million, representing a decline of 19%.

Operating income jumped 21% year over year to $113 million in the reported quarter.

Check back later for our full write up on this EQT Corp earnings report later!

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

EQT CORP (EQT): Free Stock Analysis Report

To read this article on Zacks.com click here.

Zacks Investment Research

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

In This Story

EQT

Other Topics

Earnings Investing Stocks

Latest Markets Videos

Zacks

Zacks is the leading investment research firm focusing on stock research, analysis and recommendations. In 1978, our founder discovered the power of earnings estimate revisions to enable profitable investment decisions. Today, that discovery is still the heart of the Zacks Rank. A wealth of resources for individual investors is available at www.zacks.com.

Learn More