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Compared to Estimates, EQT Corporation (EQT) Q3 Earnings: A Look at Key Metrics
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For the quarter ended September 2023, EQT Corporation (EQT - Free Report) reported revenue of $1.19 billion, down 28.2% over the same period last year. EPS came in at $0.30, compared to $1.04 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $1.14 billion, representing a surprise of +4.48%. The company delivered an EPS surprise of +350.00%, with the consensus EPS estimate being -$0.12.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how EQT Corporation performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Average daily sales Volumes: 5,682 MMcfe/D versus 5,745.41 MMcfe/D estimated by 14 analysts on average.
Average Sales Price - Crude oil: $66.75 versus the 14-analyst average estimate of $59.88.
Sales Volume - Total: 522,700 MMcfe versus the 13-analyst average estimate of 524,591.1 MMcfe.
Natural Gas Sales Volumes: 491,472 MMcf versus the 13-analyst average estimate of 495,040.2 MMcf.
Crude Oil Sales Volumes: 512 MBBL versus the 13-analyst average estimate of 410.31 MBBL.
Average natural gas price, including cash settled derivatives: $2.28 versus the nine-analyst average estimate of $2.06.
Operating revenues- Sales of natural gas, natural gas liquids and oil: $1 billion compared to the $1.12 billion average estimate based on 12 analysts. The reported number represents a change of -72.9% year over year.
Operating revenues- Net marketing services and other: $6.31 million versus the 10-analyst average estimate of $5.55 million. The reported number represents a year-over-year change of +146.1%.
Revenues from contracts with customers- Oil sales: $34.17 million versus $22.59 million estimated by seven analysts on average.
Revenues from contracts with customers- NGLs sales: $108.21 million versus $98.23 million estimated by seven analysts on average.
Operating revenues- Gain (loss) on derivatives: $177.91 million compared to the $232.27 million average estimate based on four analysts. The reported number represents a change of -110.9% year over year.
Revenues from contracts with customers- Natural gas sales: $859.51 million versus $1.03 billion estimated by four analysts on average.
Shares of EQT Corporation have returned +6.1% over the past month versus the Zacks S&P 500 composite's -3.4% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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Compared to Estimates, EQT Corporation (EQT) Q3 Earnings: A Look at Key Metrics
For the quarter ended September 2023, EQT Corporation (EQT - Free Report) reported revenue of $1.19 billion, down 28.2% over the same period last year. EPS came in at $0.30, compared to $1.04 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $1.14 billion, representing a surprise of +4.48%. The company delivered an EPS surprise of +350.00%, with the consensus EPS estimate being -$0.12.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how EQT Corporation performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Average daily sales Volumes: 5,682 MMcfe/D versus 5,745.41 MMcfe/D estimated by 14 analysts on average.
- Average Sales Price - Crude oil: $66.75 versus the 14-analyst average estimate of $59.88.
- Sales Volume - Total: 522,700 MMcfe versus the 13-analyst average estimate of 524,591.1 MMcfe.
- Natural Gas Sales Volumes: 491,472 MMcf versus the 13-analyst average estimate of 495,040.2 MMcf.
- Crude Oil Sales Volumes: 512 MBBL versus the 13-analyst average estimate of 410.31 MBBL.
- Average natural gas price, including cash settled derivatives: $2.28 versus the nine-analyst average estimate of $2.06.
- Operating revenues- Sales of natural gas, natural gas liquids and oil: $1 billion compared to the $1.12 billion average estimate based on 12 analysts. The reported number represents a change of -72.9% year over year.
- Operating revenues- Net marketing services and other: $6.31 million versus the 10-analyst average estimate of $5.55 million. The reported number represents a year-over-year change of +146.1%.
- Revenues from contracts with customers- Oil sales: $34.17 million versus $22.59 million estimated by seven analysts on average.
- Revenues from contracts with customers- NGLs sales: $108.21 million versus $98.23 million estimated by seven analysts on average.
- Operating revenues- Gain (loss) on derivatives: $177.91 million compared to the $232.27 million average estimate based on four analysts. The reported number represents a change of -110.9% year over year.
- Revenues from contracts with customers- Natural gas sales: $859.51 million versus $1.03 billion estimated by four analysts on average.
View all Key Company Metrics for EQT Corporation here>>>Shares of EQT Corporation have returned +6.1% over the past month versus the Zacks S&P 500 composite's -3.4% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.