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Dec 31, 2024
EQT Q4 2024 Earnings Report
EQT reported lower revenue but improved operational efficiencies in Q4 2024.
Key Takeaways
EQT Corporation's Q4 2024 revenue declined year-over-year, but strong production and cost efficiencies helped maintain profitability. The company achieved higher free cash flow and improved operating margins.
Revenue decreased by 20.46% YoY, reflecting lower natural gas prices.
Net income declined 16.66% YoY but remained positive at $418.40M.
Free cash flow surged to $588M, benefiting from operational efficiencies.
Operating costs per unit dropped to $1.07 per Mcfe, enhancing profitability.
Forward Guidance
EQT expects higher production in 2025, driven by operational efficiencies and midstream investments. The company also plans to reduce debt levels.
Positive Outlook
- 2025 production guidance increased by 125 Bcfe.
- Expected free cash flow of $2.6B in 2025.
- Projected net debt reduction to $7B by year-end 2025.
- Efficiency gains expected to lower reserve development capital by $200M.
- Equitrans integration nearing completion, unlocking synergies.
Challenges Ahead
- Lower expected natural gas prices may impact revenue.
- Potential headwinds from macroeconomic conditions and energy demand.
- Reduction in frac crews could impact short-term production flexibility.
- Debt levels remain high despite planned reductions.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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