Amended: corrects the fifth para to say operating revenues decreased. not increased.
Thursday, EQT Corp. (EQT) reported an increase in profit attributable to the increase in production volumes across segments.
According to the company, net income for the quarter increased to $55.38 million or $0.42 per share from $33.49 million or $0.26 per share in the year-ago quarter.
Adjusted net income for the quarter increased to $67.92 million or $0.52 per share from $44.25 million or $0.34 per share in the year-ago period.
On average, 14 analysts polled by Thomson Reuters expected the company to earn $0.39 per share. Analysts' estimates typically exclude special items.
Operating revenues for the quarter decreased to $344.03 million from $408.88 million in the comparable quarter last year.
However, net operating revenues for the quarter increased to $281.82 million from $235.38 million a year-ago. Seven Wall Street analysts estimated a revenue of $242.50 million for the quarter.
In the EQT production segment, total sales of produced natural gas increased to $27.60 million from $23.10 million a year-ago.
EQT Midstream total net operating revenues increased to $124.90 million from $78.07 million a year-ago. Net processing revenues during the fourth quarter increased by 651% to $25.9 million, compared with the year-ago period due to a significant increase in NGL prices.
Net gathering revenues increased 18% to $43.3 million, net transmission revenues increased by 27% to $21.2 million, compared with the same quarter a year-ago. Net storage, marketing and other revenues increased by 61% to $34.5 million, compared with the year-ago period primarily due to the timing of contract settlements.
The company invested $964 million in capital projects during 2009. This included $717 million for well development, $201 million for midstream projects and $46 million for distribution infrastructure projects and other corporate items.
According to the Pittsburgh, Pennsylvania-based company, total operating expenses including purchased gas costs, operation and maintenance cost, production costs, exploration costs, selling, general and administrative expenses and depreciation, depletion and amortization expenses declined to $230.81 million from $327.35 million a year-ago.
For the year, net income declined to $156.92 million or $1.19 per share from $255.60 million or $2.00 per share in the year-ago period.
Year-to-date adjusted net income declined to $202.95 million or $1.54 per share from $243.35 million or $1.90 per share in the year-ago period.
Year-to-date operating revenues declined to $1.27 billion from $1.58 billion in the prior year period.
EQT is currently at $44.05, up $1.18 or 2.75% on a volume of 2.6 million shares on the New York Stock Exchange.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.