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Sep 30, 2023
EQT Q3 2023 Earnings Report
EQT's Q3 2023 results were marked by strategic acquisitions, operational efficiency improvements, and key commercial agreements.
Key Takeaways
EQT Corporation reported a net income of $81 million and adjusted EPS of $0.30 for Q3 2023. The company closed the acquisition of Tug Hill and XcL Midstream, achieving significant drilling and completion efficiency improvements. EQT also signed major firm sales agreements for its Mountain Valley Pipeline capacity and upgraded to investment grade at Moody's.
Closed the strategic acquisitions of Tug Hill and XcL Midstream, with integration ahead of schedule.
Achieved approximately 40% drilling and completion efficiency improvements versus legacy Tug Hill performance.
Signed two of the largest firm sales agreements in the history of the natural gas market, covering EQT's Mountain Valley Pipeline capacity.
Upgraded to investment grade at Moody's, now investment grade at all three credit rating agencies.
Forward Guidance
EQT anticipates total sales volume between 525 and 575 Bcfe for Q4 2023. Capital expenditures are projected to be between $525 and $575 million.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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