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EQT Corp's Q4 Loss Narrower than Expected, Revenues Top

Integrated energy player, EQT CorporationEQT reported fourth-quarter 2015 adjusted loss of 6 cents per share, narrower than the Zacks Consensus Estimate of loss of 20 cents. The company has reported earnings of 97 cents per share in the prior-year period.

EQT Corporation (EQT) Street EPS & Surprise Percent - Last 5 Quarters | FindTheCompany

p For full-year 2015, adjusted earnings were 75 cents, down from $3.43 per share in the prior year. The earnings were, however, ahead of the Zacks Consensus Estimate of 61 cents.

Net operating revenue in the quarter plunged 14.5% year over year to $601.4 million. Nonetheless, the top line surpassed the Zacks Consensus Estimate of $476.0 million.

Net operating revenue in 2015 decreased 5.3% year over year at $2,339.8 million but outpaced the Zacks Consensus Estimate of $2,176.0 million.

Segment Details

EQT Production reported fourth-quarter operating revenues of $394.1 million, down 23.6% year over year, in spite of an increase in average daily sales volume by 13%.

In the EQT Midstream segment, net gathering revenues soared 10.4% year over year to $126.8 million on 12% growth in gathered volumes. Net transmission revenues increased 7.3%. Net storage, marketing and other operating revenues were $8.2 million, which represents a growth of 46.3%.

Operating income jumped 2.8% year over year to $122.4 million in the reported quarter.

Financials

The company's operating cash flow was $338.5 million during the quarter, down 9% year over year.

EQT Corp.'s capital expenditure totaled $2 billion in 2015. This includes $1,852.1 million spent on EQT Production and $486.8 million spent on EQT Midstream.

Guidance

EQT Corp. anticipates 2016 capital expenditure of $1 billion. Production sales volume for 2016 is projected at 700-720 billion cubic feet equivalent (Bcfe), and liquids volume is estimated at 10,000-10,500 thousand barrel of oil equivalent (MBBl). Production sales volume for first-quarter 2016 is projected at 175-180 Bcfe; and liquids volume is expected in the range of 2,450-2,500 MBBls.

Zacks Rank

The company currently carries a Zacks Rank #3 (Hold).

Some better-ranked players from the energy sector are Cheniere Energy Partners LP. CQP , Braskem S.A. BAK and Enviva Partners, LP EVA . All these stocks sport a Zacks Rank #1 (Strong Buy).

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EQT CORP (EQT): Free Stock Analysis Report

BRASKEM SA (BAK): Free Stock Analysis Report

CHENIERE ENERGY (CQP): Free Stock Analysis Report

ENVIVA PARTNERS (EVA): Free Stock Analysis Report

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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.

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