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Mar 31
EQT Q1 2025 Earnings Report
EQT reported strong Q1 2025 results with high-end production volumes, tight pricing, and substantial free cash flow generation.
Key Takeaways
EQT delivered its strongest financial performance in recent history, driven by tight pricing, record sales volumes, and efficient capital spending.
Generated $1.036 billion in free cash flow attributable to EQT.
Achieved net income of $242 million and adjusted EPS of $1.18.
Sales volume reached 571 Bcfe, at the high end of guidance.
Lower capital expenditures and operating costs boosted profitability.
EQT
EQT
EQT Revenue by Segment
EQT Revenue by Geographic Location
Revenue by Segment
Natural gas sales Revenue
CapyFin.comNGLs sales Revenue
CapyFin.comEthane sales Revenue
CapyFin.comOil sales Revenue
CapyFin.comRevenue by Geographic Location
United States Revenue
CapyFin.com Forward Guidance
EQT raised its full-year 2025 production guidance and reduced capital spending expectations due to efficiency gains and synergy capture.
Positive Outlook
- Increased full-year production guidance by 25 Bcfe.
- Reduced midpoint of 2025 capital spending by $25 million.
- Continued efficiency gains and strong well performance.
- Additional synergies from Equitrans Midstream integration.
- Strategic bolt-on Olympus Energy acquisition announced.
Challenges Ahead
- Increased transmission expense due to capacity charges.
- Processing costs up due to newer wells requiring processing.
- SG&A costs higher from increased headcount post-merger.
- O&M expenses rose from asset operations integration.
- Production depletion costs slightly increased YoY.
Revenue & Expenses
Visualization of income flow from segment revenue to net income