EQT Corp Reports Strong Financial Results for Q2
EQT Corp has announced its financial results for the second quarter, exceeding analyst expectations. The company’s earnings per share (EPS) of $1.45 exceeded consensus estimates of $1.24, driven by higher natural gas prices and increased sales volumes.
Key Financial Highlights
- Revenue: $1.83 billion, up from $1.55 billion in the same quarter last year
- Free cash flow: $434 million, a significant improvement from $243 million in the same quarter last year
- Debt reduction: EQT has made progress in reducing its debt, with a focus on maintaining a strong balance sheet
Production Guidance and Outlook
EQT has raised its annual production guidance, indicating a positive outlook for the industry. The company now expects to produce between 5.5 and 5.7 billion cubic feet of natural gas equivalent per day, up from its previous guidance of 5.2 to 5.5 billion cubic feet.
Acquisition Announcement
EQT has announced plans to acquire Adevinta’s Spanish online classifieds businesses, expanding its portfolio. The acquisition is subject to regulatory approval and is expected to be completed in the coming months.
Stock Performance
EQT’s stock price has shown a moderate increase, reflecting the positive sentiment surrounding its financial performance. The company’s stock price has risen by 2.5% since the announcement of its financial results.