EQT Corp ( (EQT) ) has realeased its Q3 earnings. Here is a breakdown of the information EQT Corp presented to its investors.
Invest with Confidence:
- Follow TipRanks' Top Wall Street Analysts and uncover their success rate and average return.
- Join thousands of data-driven investors – Build your Smart Portfolio for personalized insights.
EQT Corporation is a leading American natural gas company with operations centered in the Appalachian Basin, known for its commitment to operational efficiency and environmental responsibility. In the third quarter of 2024, EQT reported significant progress in the integration of Equitrans Midstream Corporation, achieving over 60% completion and $145 million in expected annual synergies. The company recorded a sales volume of 581 Bcfe, surpassing guidance expectations, and announced a $1.25 billion divestiture of non-operated assets in Northeast Pennsylvania. Despite a net loss of $301 million, EQT’s adjusted EBITDA saw a substantial increase to $832 million, driven by operational efficiencies and strategic asset management. Looking ahead, EQT remains focused on achieving its debt reduction targets by the end of 2025, supported by asset divestitures and continued operational improvements.
