EQT Corporation ( (NYSE:EQT) ) 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. In the last four trailing quarters, EQT Corp has reported a positive average earnings surprise of 163.71%, beating the estimate in all the four quarters.
Zacks Rank: Currently, EQT Corp. has a Zacks Rank #3 (Hold) but that could change following its first quarter 2017 earnings report which has just released. You can see the complete list of today’s Zacks #1 Rank stocks here.
Earnings: EQT Corp’s earnings of 43 cents per share from continuing operations (excluding special items) lagged the Zacks Consensus Estimate of 45 cents.
EQT Corporation Price and EPS Surprise
Revenue: Net operating revenues of $897.5 million beat the Zacks Consensus Estimate of $722.65 million.
Key Stats: EQT Production reported first-quarter operating revenues of $828.7 million, up 71.3% year over year.
Operating income was $257.4 million. The segment had incurred a loss of $5.5 million in 1Q16.
In the EQT Gathering segment, net gathering revenues increased 4.4% year over year to $102.3 million due to 3% higher gathered volumes.
Operating income jumped 1.4% year over year to $73.6 million in the reported quarter.
In the EQT Transmission segment, net transmission revenue grew 15.2% to $101.1 million.
Operating income jumped 11% year over year to $71.5 million in the reported quarter.
Check back later for our full write up on this EQT Corp earnings report later!
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EQT Corporation (EQT): Free Stock Analysis Report
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