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EQT Corporation (EQT - Free Report) 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 93.71%, beating the estimate in all the four quarters.
Zacks Rank: Currently, EQT Corp. has a Zacks Rank #2 (Buy) but that could change following its fourth quarter 2016 earnings report which has just released. You can see the complete list of today’s Zacks #1 Rank stocks here.
Earnings: EQT Corp reported earnings of 25 cents per share from continuing operations (excluding special items) compared to the Zacks Consensus Estimate of loss of 10 cents.
Revenue: Net operating revenues of $379.0 million lagged the Zacks Consensus Estimate of $552.4 million.
Key Stats: EQT Production's fourth-quarter operating revenues were $318.3 million compared with $546.1 million in the year-ago quarter. However, the company clocked sales volume of 198.4 billion cubic feet equivalent (Bcfe) in the fourth quarter, up 28.4% year over year.
Operating loss for the fourth quarter was $251.1 million. The company had posted an operating loss of $72.3 million in the year-ago period.
In the EQT Gathering segment, net gathering revenue increased 10.5% year over year to $100.2 million on 15% growth in gathered volumes. Net transmission revenue grew 18.5% to $94.8 million.
Operating income jumped 12% year over year to $63.8 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 (EQT) Posts Earnings in Q4, Revenues Lag
EQT Corporation (EQT - Free Report) 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 93.71%, beating the estimate in all the four quarters.
Zacks Rank: Currently, EQT Corp. has a Zacks Rank #2 (Buy) but that could change following its fourth quarter 2016 earnings report which has just released. You can see the complete list of today’s Zacks #1 Rank stocks here.
Earnings: EQT Corp reported earnings of 25 cents per share from continuing operations (excluding special items) compared to the Zacks Consensus Estimate of loss of 10 cents.
EQT Corporation Price and EPS Surprise
EQT Corporation Price and EPS Surprise | EQT Corporation Quote
Revenue: Net operating revenues of $379.0 million lagged the Zacks Consensus Estimate of $552.4 million.
Key Stats: EQT Production's fourth-quarter operating revenues were $318.3 million compared with $546.1 million in the year-ago quarter. However, the company clocked sales volume of 198.4 billion cubic feet equivalent (Bcfe) in the fourth quarter, up 28.4% year over year.
Operating loss for the fourth quarter was $251.1 million. The company had posted an operating loss of $72.3 million in the year-ago period.
In the EQT Gathering segment, net gathering revenue increased 10.5% year over year to $100.2 million on 15% growth in gathered volumes. Net transmission revenue grew 18.5% to $94.8 million.
Operating income jumped 12% year over year to $63.8 million in the reported quarter.
Check back later for our full write up on this EQT Corp earnings report later!
Zacks’ Best Private Investment Ideas
While we are happy to share many articles like this on the website, our best recommendations and most in-depth research are not available to the public.
Starting today, for the next month, you can follow all Zacks' private buys and sells in real time. Our experts cover all kinds of trades… from value to momentum . . . from stocks under $10 to ETF and option moves . . . from stocks that corporate insiders are buying up to companies that are about to report positive earnings surprises. You can even look inside exclusive portfolios that are normally closed to new investors. Click here for Zacks' private trades >>