EQT CORPORATION Reports FY2023 Q2 Earnings Results as of June 30 2023
July 28, 2023
🌥️Earnings Overview
On July 25 2023, EQT ($NYSE:EQT) Corporation announced their financial results for the second quarter of FY2023, ending June 30 2023. The company reported total revenue of USD 854.4 million, a decrease of 74.7% compared to the same period in FY2022. Their net income amounted to USD -66.6 million, compared to a net income of USD 891.4 million the previous year.
Share Price
On Tuesday, EQT CORPORATION reported their fiscal year 2023 second quarter earnings results as of June 30 2023. The company’s stock opened at $39.8 and closed at $39.6, a decrease of 0.2% from the prior closing price of $39.7. This growth was largely driven by strong production volumes and prices for natural gas, NGLs and crude oil during the quarter.
Additionally, EQT CORPORATION experienced higher realized volumes in the Appalachian Dry Natural Gas segment. Overall, EQT CORPORATION delivered strong financial results for the second quarter of FY2023, reflecting a steady growth in the company’s production and sales volumes combined with higher average commodity prices. This positive performance is expected to continue in the coming quarters as well, as the company expands its operations in the Appalachian region. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Eqt Corporation. More…
| Total Revenues | Net Income | Net Margin |
| 8.96k | 3.55k | 38.8% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Eqt Corporation. More…
| Operations | Investing | Financing |
| 4.31k | -1.42k | -699.13 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Eqt Corporation. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 22.69k | 10.54k | 33.49 |
Key Ratios Snapshot
Some of the financial key ratios for Eqt Corporation are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 46.7% | 410.2% | 53.7% |
| FCF Margin | ROE | ROA |
| 29.6% | 24.8% | 13.3% |
Analysis
At GoodWhale, we have performed an analysis of EQT CORPORATION‘s fundamentals. Our risk rating has determined that it is a medium risk investment when it comes to both the financial and business aspects. In our analysis, we have identified two risk warnings in the income sheet and balance sheet. To access these warnings, sign up to become a registered user with GoodWhale. By becoming a member, you will be able to get an in-depth look at these risk warnings and make a more informed decision about investing in EQT CORPORATION. More…
Peers
EQT Corp is one of the largest natural gas producers in the United States. The company is engaged in the exploration, development, and production of natural gas and oil properties. EQT Corp has a large portfolio of natural gas assets in the Appalachian Basin. The company’s main competitors are Antero Resources Corp, CNX Resources Corp, and Chesapeake Energy Corp.
– Antero Resources Corp ($NYSE:AR)
Antero Resources Corp is an American natural gas and oil company engaged in the exploration, development, production, and acquisition of natural gas and oil properties located in the Appalachian Basin. As of December 31, 2020, the company had approximately 1.4 million net acres under lease in the states of West Virginia, Ohio, and Pennsylvania. Antero Resources is headquartered in Denver, Colorado.
The company’s market cap is 10.7B as of 2022. The company’s ROE is 15.98%.
– CNX Resources Corp ($NYSE:CNX)
CNX Resources Corp is an American energy company engaged in the exploration and production of natural gas and oil. They have a market cap of 3.37B as of 2022 and a Return on Equity of -34.12%. The company operates in the Appalachian Basin and is headquartered in Canonsburg, Pennsylvania.
– Chesapeake Energy Corp ($NASDAQ:CHK)
Chesapeake Energy Corporation is an American oil and natural gas exploration and production company headquartered in Oklahoma City, Oklahoma. The company is the second-largest producer of natural gas, the 11th largest producer of oil and natural gas liquids and the most active driller of onshore wells in the U.S. Headquartered in Oklahoma City, Chesapeake owns assets in the Eagle Ford, Haynesville/Bossier and Permian Basin shale plays in the United States. The company also operates in Canada, Appalachia and the Mid-Continent region.
Chesapeake Energy Corporation has a market capitalization of $11.94 billion as of March 2021. The company’s return on equity was 1916.84% as of December 2020. Chesapeake Energy Corporation is an American oil and natural gas exploration and production company headquartered in Oklahoma City, Oklahoma. The company is the second-largest producer of natural gas, the 11th largest producer of oil and natural gas liquids and the most active driller of onshore wells in the U.S. Headquartered in Oklahoma City, Chesapeake owns assets in the Eagle Ford, Haynesville/Bossier and Permian Basin shale plays in the United States. The company also operates in Canada, Appalachia and the Mid-Continent region.
Summary
EQT CORPORATION reported its financial results for Q2 FY2023 and saw a significant decrease in total revenue of 74.7%. Net income was also negative at -66.6 million, compared to 891.4 million in the same period the previous year. For investors, this could mean a weakened outlook for the company and should be taken into consideration when making decisions on whether to buy or sell the stock. It is important to conduct further research into the company’s performance, competitive landscape, and long-term prospects before making any investing decisions.
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