NYSE$EQT
EQT Corp · Q3 2024 earnings
Q3 2024 earnings · · Investor relations
Briefing
EQT's Q3 2024 performance was marked by the successful acquisition of Equitrans, integration progress, and strategic asset divestiture.
EQT reported a net loss of $297 million for Q3 2024, but integration of Equitrans Midstream Corporation is over 60% complete, with $145 million in annualized synergies achieved. The company announced an agreement to sell non-operated natural gas assets for $1.25 billion and became the first traditional energy producer to achieve net zero Scope 1 and 2 GHG emissions.
- Equitrans Midstream Corporation integration is over 60% complete, with $145 million of annualized synergies achieved.
- Sales volume reached 581 Bcfe, exceeding guidance due to operational efficiency.
- Capital expenditures were $558 million, below guidance due to efficiency gains.
- Agreement announced to sell remaining non-operated natural gas assets in Northeast Pennsylvania for $1.25 billion in cash.
Headline financials
Revenue & EPS history
EQT · Revenue · Quarterly
$1.28B
Forward guidance
EQT provided Q4 2024 guidance for production, revenue, and capital expenditures.
Tailwinds
- Total sales volume expected to be between 555 and 605 Bcfe.
- Liquids sales volume, excluding ethane, is projected to be 4,100 to 4,400 Mbbl.
- Ethane sales volume is expected to be 1,350 to 1,500 Mbbl.
- Third-party midstream revenue is projected between $130 and $155 million.
- Distributions from MVP are estimated to be $50 to $60 million.
Headwinds
- Average differential is projected to be between ($0.60) and ($0.50) per Mcf.
- Capital contributions to MVP are expected to be $70 to $80 million.
- EQT maintenance capital expenditures are projected to be $475 to $525 million.
- EQT strategic growth capital expenditures are projected to be $65 to $90 million.
- Total capital expenditures are projected to be $630 to $730 million.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q3 2024
+0.8%
Avg return
Earnings day
+0.0%
Avg return
5 days after
+2.3%
Avg return
30 days after
64%
47 / 73 earnings
Positive
+18.3%
Q4 2019
Best reaction
-19.6%
Q3 2018
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +0.1% | +0.5% | -0.9% | |
| Q4 2025 | +1.5% | +2.2% | +12.0% | |
| Q3 2025 | -4.0% | -3.5% | +2.4% | |
| Q2 2025 | +1.5% | -1.4% | -2.1% | |
| Q1 2025 | +0.4% | +5.3% | +14.5% | |
| Q4 2024 | +0.9% | -6.9% | -1.7% | |
| Q3 2024 | +3.4% | -4.5% | +21.4% | |
| Q2 2024 | -1.6% | -3.8% | -7.8% | |
| Q1 2024 | +3.8% | +7.0% | +5.1% | |
| Q4 2023 | -5.6% | -0.7% | -3.3% | |
| Q3 2023 | +0.7% | -3.2% | -4.0% | |
| Q2 2023 | +4.6% | +6.5% | +5.0% | |
| Q1 2023 | +5.8% | +8.1% | +13.8% | |
| Q4 2022 | +2.4% | +0.5% | -5.5% | |
| Q3 2022 | -1.3% | +5.7% | +8.7% | |
| Q2 2022 | -6.2% | -7.2% | +9.0% | |
| Q1 2022 | +4.2% | +1.3% | +24.4% | |
| Q4 2021 | +2.3% | +7.5% | +27.5% | |
| Q3 2021 | -8.3% | -8.5% | -6.8% | |
| Q2 2021 | -8.0% | -13.8% | -8.4% | |
| Q1 2021 | -7.5% | +5.2% | +7.7% | |
| Q4 2020 | +2.5% | -1.0% | +3.4% | |
| Q3 2020 | +8.9% | +9.0% | -0.7% | |
| Q2 2020 | -2.5% | +2.5% | +10.7% | |
| Q1 2020 | +2.6% | -7.1% | +10.3% | |
| Q4 2019 | +18.3% | +24.0% | +39.1% | |
| Q3 2019 | +6.7% | +9.8% | -11.8% | |
| Q2 2019 | -10.1% | -7.3% | -35.0% | |
| Q1 2019 | +1.2% | -1.4% | -6.4% | |
| Q4 2018 | -1.5% | -1.2% | +1.0% | |
| Q3 2018 | -19.6% | -18.8% | -17.8% | |
| Q2 2018 | -10.1% | -10.4% | -7.7% | |
| Q1 2018 | +6.4% | +7.0% | +7.0% | |
| Q4 2017 | +8.3% | +6.0% | +4.0% | |
| Q3 2017 | +4.0% | +2.8% | -5.3% | |
| Q2 2017 | +3.3% | -0.1% | -4.5% | |
| Q1 2017 | -9.0% | -7.6% | -11.3% | |
| Q4 2016 | +7.1% | +2.5% | -2.5% | |
| Q3 2016 | +2.6% | +1.0% | +9.0% | |
| Q2 2016 | -0.8% | -4.2% | -2.4% | |
| Q1 2016 | -3.2% | — | — | |
| Q4 2015 | -1.8% | — | — | |
| Q3 2015 | -6.5% | — | — | |
| Q2 2015 | +2.6% | — | — | |
| Q1 2015 | -0.8% | — | — | |
| Q4 2014 | +6.0% | — | — | |
| Q3 2014 | +7.2% | — | — | |
| Q2 2014 | +0.2% | — | — | |
| Q1 2014 | -0.3% | — | — | |
| Q4 2013 | +2.5% | — | — | |
| Q3 2013 | -0.3% | — | — | |
| Q2 2013 | +4.6% | — | — | |
| Q1 2013 | +7.7% | — | — | |
| Q4 2012 | +3.9% | — | — | |
| Q3 2012 | +7.7% | — | — | |
| Q2 2012 | +4.2% | — | — | |
| Q1 2012 | +0.9% | — | — | |
| Q4 2011 | +4.6% | — | — | |
| Q3 2011 | -1.8% | — | — | |
| Q2 2011 | +3.7% | — | — | |
| Q1 2011 | +1.5% | — | — | |
| Q4 2010 | +0.8% | — | — | |
| Q3 2010 | +1.8% | — | — | |
| Q2 2010 | -3.0% | — | — | |
| Q1 2009 | +0.0% | — | — | |
| Q1 2010 | +2.4% | — | — | |
| Q4 2009 | +2.0% | — | — | |
| Q3 2009 | -1.0% | — | — | |
| Q3 2008 | -1.0% | — | — | |
| Q4 2008 | +1.8% | — | — | |
| Q4 2007 | +1.8% | — | — | |
| Q2 2008 | +1.8% | — | — | |
| Q2 2009 | +1.8% | — | — |
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