EQT Corporation operates as a natural gas production company in the United States. The company sells natural gas and natural gas liquids to marketers, utilities, and industrial customers through pipelines located in the Appalachian Basin. It also offers marketing services and contractual pipeline capacity management services. The company was formerly known as Equitable Resources Inc. and changed its name to EQT Corporation in February 2009. EQT Corporation was founded in 1878 and is headquartered in Pittsburgh, Pennsylvania.

EQT appears to be a company with strong operating profitability, but with notable caveats regarding balance sheet quality and short-term liquidity. P/E, P/B, and P/FCF are below industry medians, which supports the idea of moderate undervaluation; however, P/S is significantly above the median and suggests that the market is already pricing in a high revenue valuation. Gross margin, operating margin, and net margin are very strong and significantly outperform the industry, indicating good cost control and high business efficiency. At the same time, the recent trend in earnings and operating income looks weaker than in earlier quarters, so the quality of the current result does not appear to be improving linearly. ROE and return on tangible equity are below industry benchmarks and do not confirm that shareholder capital is being used more effectively than competitors’, despite the high margins. ROA is roughly in line with the industry, while ROI is only slightly below the median, meaning overall asset efficiency is acceptable but not outstanding. Leverage looks comfortable: debt/equity is noticeably below the industry, and debt has declined over recent years, which reduces financial risk. However, the current ratio is below 1, and the quick ratio is zero, indicating weak short-term liquidity and dependence on operating cash flow. Cash balances are also not high and have decreased relative to earlier periods, so the cash buffer is limited. Revenue and gross profit remain strong, but their quarterly trajectory is uneven, which adds caution to the outlook. Dividend yield is practically nonexistent, so the investment case relies almost entirely on capital appreciation rather than current cash returns to shareholders. Overall, the fundamentals support viewing the company as high quality but not risk-free, with strong margins and moderate undervaluation on valuation multiples, offset by weak liquidity and an imperfect earnings trend. For the target price, this is more of a moderately negative signal: there is upside potential, but it is limited by balance sheet risks and the fact that part of the company’s strengths is already reflected in the price.

EQT Corporation

Сильный индекс, значительно упал. Оптимистичный взгляд на свои позиции резко сменился на неуверенность.

Strong index, significantly down. An optimistic view of his position suddenly changed to uncertainty.

Слабый индекс, значительно упал. Рынок на стороне быков.

Weak index, significantly down. The market is on the bulls' side.

Средний индекс, незначительно вырос. Отток средств из лонгов снизился, но остается значительным.

Medium index, slightly up. The outflow of funds from longs has decreased, but remains significant.

Strong margins and low debt support EQT, but weak liquidity, zero dividend yield, and uneven earnings momentum are weighing on the valuation.

EQT Corporation EQT is trying to convert rising electricity consumption into contracted gas demand rather than simply chasing higher production. The strategy centers on power plants, data centers, pipeline access and liquefied natural gas (LNG) exposure.
That framing matters for investors. New demand can help Appalachian gas only if projects move from proposals to funded, permitted and contracted infrastructure.
EQT Targets Power Demand With Long-Term Contracts
EQT’s clearest power-linked step is a 10-year agreement to supply 325,000 Dekatherm (Dth) per day of natural gas to the planned CPV Shay Energy Center in Doddridge County, WV. The facility is expected to enter service as early as 2031.
The contract links pricing to PJM power markets rather than a conventional gas index. At recent forward prices, that structure is expected to provide a premium to local gas indexes and reduce reliance on Appalachian basin pricing.
How EQT Connects Data Centers to Gas Growth
Management is tracking more than 45 Appalachian demand and pipeline takeaway projects totaling nearly 20 Bcf per day of potential demand. The opportunity set includes power generation, data center-related load growth and new outlets for regional supply.
The key word is potential. Many projects are still under evaluation, which means EQT’s demand story depends on customer commitments and commercial structures that can support financing and construction.
Range Resources Corporation RRC is relevant in this context because Appalachian producers face a similar investor question. Regional gas values improve most when new demand and takeaway capacity absorb supply inside or near the basin.
EQT’s LNG Exposure Broadens Its Demand Base
EQT also signed a five-year LNG offtake agreement for 0.5 million tonnes per annum beginning in 2028. The arrangement sources LNG from various Gulf Coast facilities and accelerates EQT’s exposure to export-linked markets.
The agreement is projected to add about $45 million to 2028 free cash flow at recent strip prices. For EQT, LNG exposure broadens the demand base beyond local power and pipeline projects and adds a route to international natural gas markets.
Cheniere Energy, Inc. LNG offers a useful reference point for the broader LNG theme because it is tied to liquefaction and export infrastructure. EQT’s approach is different, as it seeks LNG exposure while remaining primarily an Appalachian natural gas producer.
Why EQT’s Project Pipeline Depends on Execution
The long-duration demand story is not immediate. Major power, pipeline and data center projects can require three to five years to build, and CPV Shay itself may not begin until 2031.
Permitting, construction timing, financing and customer commitments will determine how much of the project pipeline becomes real demand. Delays could defer pricing benefits and limit the ability to turn emerging demand into a material earnings driver.
EQT’s Weak Momentum Offsets Emerging Demand Themes
The bottom line is that EQT has assembled several demand-linked catalysts, but they remain longer dated. Power contracts, LNG exposure and data center-related load growth can support future outlets for Appalachian gas only if the infrastructure cycle advances.
Near-term signals are less favorable. EQT currently has a Zacks Rank #4 (Sell). Its earnings estimates have been revised downward for 2026 and 2027, supporting a cautious stance. The stock also has a Momentum Score of F. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
The Growth Score of C and the VGM Score of C are neutral rather than clearly favorable. Together, these scores suggest that the emerging-demand narrative has not yet translated into a clearly superior near-term earnings or share-price profile.
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How EQT Is Positioning for Data Center, Power & Global LNG Demand

For the quarter ended June 2026, EQT Corporation (EQT) reported revenue of $1.81 billion, up 13.2% over the same period last year. EPS came in at $0.39, compared to $0.45 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $1.83 billion, representing a surprise of -1.36%. The company delivered an EPS surprise of -4.88%, with the consensus EPS estimate being $0.41.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how EQT performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Natural gas - Average natural gas price, including cash settled derivatives: $2.51 versus $2.57 estimated by four analysts on average.
Average Sales Price - Oil price: $70.14 versus $76.40 estimated by four analysts on average.
Average daily sales volume - Total: 6,972.00 MMcfe/D compared to the 6,556.10 MMcfe/D average estimate based on four analysts.
Average Sales Price - Natural gas price: $3.05 versus $2.54 estimated by four analysts on average.
Oil - Sales volume: 468.00 MBBL compared to the 489.79 MBBL average estimate based on three analysts.
Sales Volume - Total: 634,474.00 MMcfe versus 598,398.30 MMcfe estimated by three analysts on average.
Operating revenues- Sales of natural gas, natural gas liquids and oil: $1.61 billion compared to the $1.7 billion average estimate based on three analysts. The reported number represents a change of -5.3% year over year.
Revenues from contracts with customers- NGLs sales: $152.91 million compared to the $176.18 million average estimate based on three analysts. The reported number represents a change of +5.4% year over year.
Operating revenues- Pipeline and other: $155.29 million compared to the $152.17 million average estimate based on three analysts. The reported number represents a change of +13.1% year over year.
Natural gas sales, including cash settled derivatives: $1.5 billion versus the two-analyst average estimate of $1.43 billion. The reported number represents a year-over-year change of +4.2%.
Total natural gas and liquids sales, including cash settled derivatives: $1.68 billion compared to the $1.75 billion average estimate based on two analysts. The reported number represents a change of +5.2% year over year.
Revenues from contracts with customers- Oil sales: $32.79 million versus the two-analyst average estimate of $32.37 million. The reported number represents a year-over-year change of +102.6%.
Shares of EQT have returned +4.9% over the past month versus the Zacks S&P 500 composite's +0.4% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.
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Compared to Estimates, EQT (EQT) Q2 Earnings: A Look at Key Metrics

The S&P 500 Index ($SPX) (SPY) on Wednesday closed down -0.14%, the Dow Jones Industrial Average ($DOWI) (DIA) closed down -0.01%, and the Nasdaq 100 Index ($IUXX) (QQQ) closed down -0.54%. September E-mini S&P futures (ESU26) fell -0.07%, and September E-mini Nasdaq futures (NQU26) fell -0.48%.
Stock indexes fell on Wednesday as soaring crude prices pushed bond yields higher, weighing on stocks. WTI crude oil (CLU26) rose more than +2% on Wednesday to a 6-week high after the US and Iran played down the prospects of peace talks as disruptions to global oil supplies continued to mount. The 10-year T-note yield climbed to a 2-month high of 4.66% on Wednesday amid rising crude oil prices.
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The weakness in software and cybersecurity stocks on Wednesday also weighed on equities. The markets are waiting for earnings results after Wednesday’s close from Alphabet to see evidence that the company’s investments in artificial intelligence are generating returns, as it plans to more than double capital spending from 2025 to as much as $190 billion this year. On the positive side, most chipmakers strengthened, and energy producers and service providers moved higher with Wednesday’s rally in WTI crude oil to a 6-week high.
The US conducted an 11th straight day of attacks against Iran on Wednesday in an effort to degrade the country's ability to threaten commercial shipping in the Strait of Hormuz. Iran retaliated by striking US bases in Bahrain, Kuwait, and Jordan. President Trump said on Tuesday that the US has “no interest” in meeting with Iran until they are ready for serious peace negotiations.
Also, the Joint Maritime Information Center, a monitoring body for naval security, said on Wednesday that the Iran-backed Houthi rebels have deployed missiles and drones in preparation for attacks on shipping in the Red Sea. The Houthis have vowed to blockade shipping linked to Saudi Arabia and warned shipowners against calling at the nation's ports. The move threatens Saudi oil exports from Yanbu, a Red Sea hub that the Saudi's are using to ship crude since the war brought shipping through the Strait of Hormuz to a near halt. President Trump said Tuesday that if there is a blockade in the Red Sea, the US “will take care of it.”
US MBA mortgage applications rose +1.9% in the week ended July 17, with the purchase mortgage sub-index up +5.5% and the refinancing mortgage sub-index down -2.4%. The average 30-year fixed rate mortgage rose +4 bp to an 11-month high of 6.69% from 6.65% in the prior week.
The outlook for strong Q2 earnings, which begin in earnest this week, is a bullish factor for stocks. Forecasts compiled by Bloomberg Intelligence suggest Q2 earnings may increase by +23%, close to Q1’s blowout earnings of +30%, which was more than double the +12% analysts had expected. AI spending is expected to account for most of earnings, with AI infrastructure stocks set to contribute nearly 60% of the S&P 500's earnings-per-share growth in Q2. So far, earnings results have been positive as 89% of the S&P 500 companies that reported Q2 earnings results have beaten estimates, according to data compiled by Bloomberg.
The markets are discounting a 34% chance of a +25 bp rate hike at the next FOMC meeting on July 28-29.
Overseas stock markets settled mixed on Wednesday. The Euro Stoxx 50 climbed to a 2-week high and closed up +0.50%. China's Shanghai Composite closed up +0.07%. Japan's Nikkei-225 Stock Average closed down -0.18%.
Interest Rates
September 10-year T-notes (ZNU6) on Wednesday closed down -7 ticks, and the 10-year T-note yield rose +3.3 bp to 4.661%. Sep T-notes tumbled to a 17-month nearest-futures low on Wednesday, and the 10-year T-note yield rose to a 2-month high of 4.663%. T-notes retreated on Wednesday as WTI crude oil prices rose more than +2% to a 6-week high, which raised inflation expectations and is a hawkish factor for Fed policy. The 10-year breakeven inflation rate rose to a 1-week high of 2.290% on Wednesday. Also, tepid demand for the Treasury’s $13 billion auction of 20-year T-bonds weighed on T-note prices as the auction had a bid-to-cover ratio of 2.64, below the 10-auction average of 2.65.
European government bond yields moved higher on Wednesday. The 10-year German bund yield rose to a 2-month high of 3.192% and finished up +0.8 bp to 3.171%. The 10-year UK gilt yield climbed to a 2-month high of 5.065% and finished up +0.4 bp to 5.034%.
UK Jun CPI eased to +2.6% y/y from +3.8% y/y in May, weaker than expectations of +2.7% y/y and the slowest pace of increase in 15 months. However, Jun core CPI was unchanged from May at +2.6% y/y, stronger than the +2.5% y/y expected.
Swaps are discounting a 5% chance of a +25 bp ECB rate hike at its next policy meeting on Thursday.
US Stock Movers
Software stocks are under pressure today, weighing on the broader market. ServiceNow (NOW) and Palantir Technologies (PLTR) closed down more than -6%, and Workday (WDAY) closed down more than -6% to lead losers in the Nasdaq 100. Also, Atlassian Corp (TEAM) closed down more than -5%, and Salesforce (CRM) closed down more than -4% to lead losers in the Dow Jones Industrials. In addition, Adobe Systems (ADBE), Datadog (DDOG), Autodesk (ADSK), and Thomson Reuters (TRI) closed down more than -3%, and Microsoft (MSFT) closed down more than -2%.
Cybersecurity stocks moved lower on Wednesday. Zscaler (ZS) closed down more than -4%, and Okta (OKTA) closed down more than -3%. Also, CrowdStrike Holdings (CRWD), Palo Alto Networks (PANW), Fortinet (FTNT), and Cloudflare (NET) closed down more than -1%.
Chipmakers and AI infrastructure stocks strengthened on Wednesday. Broadcom (AVGO) and NXP Semiconductors NV (NXPI) closed up more than +2%, and Nvidia (NVDA) closed up more than +2% to lead gainers in the Dow Jones Industrials. Also, Advanced Micro Devices (AMD), Seagate Technology Holdings Plc (STX), Analog Devices (ADI), Western Digital (WDC), Marvell Technology (MRVL), and Qualcomm (QCOM) closed up more than +1%.
Energy stocks and service providers moved higher on Wednesday as WTI crude oil rose more than +2% to a 6-week high. SLB Ltd (SLB) closed up more than +2%, and ConocoPhillips (COP), Devon Energy (DVN), Diamondback Energy (FANG), Occidental Petroleum (OXY), APA Corp (APA), and Chevron (CVX) closed up more than +1%.
Pegasystems (PEGA) closed down more than -16% after reporting Q1 adjusted EPS of 35 cents, weaker than the consensus of 44 cents.
GE Vernova (GEV) closed down more than -8% to lead losers in the S&P 500 after reporting Q2 adjusted Ebitda of $1.25 billion, below the consensus of $1.29 billion.
Reddit (RDDT) closed down more than -8% after the Wall Street Journal reported that the company has discussed cutting off Google’s access to its content for AI use.
TE Connectivity Plc (TEL) closed down more than -4% after announcing it entered into a definitive agreement to acquire Astrodyne TDI for about $1.4 billion.
Chubb Ltd (CB) closed down more than -3% after reporting Q2 net premiums written were $14.71 billion, below the consensus of $14.98 billion.
Northern Trust Corp (NTRS) closed down more than -3% after reporting Q2 non-interest expenses of $1.64 billion, higher than the consensus of $1.51 billion.
Super Micro Computer (SMCI) closed up more than +19% to lead gainers in the S&P 500 after saying its backlog rose to record levels at the end of 2026 with total new orders in excess of $60 billion received during Q4.
Westinghouse Air Brake Technologies (WAB) closed up more than +10% after reporting Q2 net sales of $3.18 billion, better than the consensus of $3.07 billion, and raising its full-year sales forecast to $12.30 billion to $12.60 billion from a previous estimate of $12.19 billion to $12.49 billion.
EQT Corp (EQT) closed up more than +8% after reporting Q2 adjusted Ebitda of $1.20 billion, better than the consensus of $1.11 billion.
CME Group (CME) closed up +5% after reporting Q2 adjusted EPS of $2.99, stronger than the consensus of $2.90.
DigitalOcean Holdings (DOCN) closed up more than +4% after Stifel upgraded the stock to buy from hold with a price target of $160.
CoreWeave (CRWV) closed up more than +3% after Truist Securities upgraded the stock to buy from hold with a price target of $126.
AT&T (T) closed up more than +3% after reporting Q2 wireless postpaid phone net additions of +432,000, well above the consensus of +325,264.
Earnings Reports(7/23/2026)
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On the date of publication, Rich Asplund did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Stocks Settle Lower as Crude Oil Prices Jump

Key Points
EQT missed on revenues and earnings.
However, management forecasts increased production, even while lowering its capital expenditures.
Lower costs and new long-term supply agreements seem to have de-risked EQT's story, which turned upwards following a year-to-date decline.
Shares of natural gas driller EQT Corporation (NYSE: EQT) rallied 8.5% in Wednesday's trading.
EQT reported second-quarter earnings today. While revenue and earnings per share actually came in lower than Wall Street analysts expected, the company also increased its production targets for the year while lowering costs. Meanwhile, management also announced big new supply deals that more than offset the earnings shortfall.
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EQT is controlling what it can
In the second quarter, EQT's revenue plunged 29% to $1.81 billion, missing estimates by $30 million, while adjusted (non-GAAP) earnings per share fell a more modest 13% to $0.39. The bulk of the big decline in revenues was due to a much lower gain on derivative contracts, or hedges on natural gas prices. On top of that, the average realized price of natural gas also fell year over year by about 6% to $2.65 per thousand cubic feet (Mcfe).
Despite the headline "miss," EQT also announced several positives. For one, the company increased its full-year natural gas production guidance to 2.38 to 2.45 trillion cubic feet (​Tcfe), up from prior guidance of 2.28 to 2.38 Tcfe. What's impressive is that EQT is raising production guidance while lowering capital expenditure guidance by $25 million.
Additionally, management announced a new 10-year offtake agreement to supply natural gas to Competitive Power Ventures' Shay Energy Center in West Virginia. EQT also announced a liquefied natural gas (LNG) offtake agreement with an unnamed large and diversified Asian power company for 500,000 metric tons/year over five years.
Those long-term supply agreements, along with lower production costs-per cubic foot, seemed to de-risk a lot of the forward picture and protect against further downside in natural gas prices, so investors sent shares higher today.
EQT is a unique natural gas play
EQT has the largest acreage and lowest-cost natural gas supply in the U.S. Appalachian Basin, making it a core way to play the rise in natural gas demand driven by the AI data center build-out.
Of course, natural gas is a commodity, and all commodities are subject to significant price swings driven by global supply and demand. So even though natural gas prices have fallen this year due to a variety of factors, should we eventually get a big price spike due to the energy-hungry data center build-out, EQT is a well-executing stock to play that theme.
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Why EQT Corporation Rallied Today

EQT Corporation EQT reported second-quarter 2026 adjusted earnings of 39 cents per share, down 13.3% year over year. The figure also missed the Zacks Consensus Estimate of 41 cents by 4.9%.
Revenues declined 29.2% year over year to $1.81 billion and missed the Zacks Consensus Estimate of $1.84 billion by 1.4%.
The weaker-than-expected quarterly results can be attributed to lower realized natural gas-equivalent prices despite an 11.7% increase in sales volume.
EQT Corporation Price, Consensus and EPS Surprise
EQT Expands Its Integrated Platform
The company completed its $77 million acquisition of Blackline Midstream LLC on July 21, 2026, which operates two propane storage and distribution terminals in New England. The assets provide 46 million gallons of storage capacity and are expected to generate an average annual free cash flow of about $15 million over the next five years.
EQT's Production Strength Supports Results
Total sales volume increased to 634 billion cubic feet equivalent (Bcfe) in the second quarter from 568 Bcfe in the year-ago quarter. The figure came in higher than our estimate of 572 Bcfe. Production exceeded the high end of management’s guidance, driven by strong well performance, system-pressure optimization and fewer price-related curtailments than expected.
Natural gas sales volume was 597 Bcf, up from 534 Bcf in the year-ago quarter. The figure surpassed our estimate of 541 Bcf. The total liquid sales volume was 6,249 thousand barrels (MBbls), up from the year-ago level of 5,631 MBbls. The figure beat our projection of 5,172 MBbls.
The company also benefited from compression projects that reduced decline rates and improved well productivity. These operational gains prompted management to raise its 2026 production outlook by roughly 90 Bcfe.
Realized Pricing Weighs on EQT's Revenues
The average realized price declined 5.7% year over year to $2.65 per thousand cubic feet equivalent (Mcfe). The figure also missed our estimate of $2.94 per Mcfe.
The average natural gas price, including cash-settled derivatives, was $2.38 per Mcf, which declined from $2.88 a year ago. Our estimate for the same was pinned at $2.75 per Mcf.
The natural gas sales price was $3.05 per Mcf, down from $3.63 recorded a year ago.
The oil price was $70.14 per barrel compared with $51.70 in the year-ago figure. Our estimate for the same was pegged at $77.16 per barrel.
Sales of natural gas, natural gas liquids and oil decreased 5.3% year-over-year to $1.61 billion. Pipeline and other revenues rose to $155.3 million from $137.3 million a year ago.
EQT Keeps Per-Unit Costs Under Control
Total operating costs were $1.03 per Mcfe, down from $1.08 a year earlier and at the low end of the company’s guidance. Lower transmission, processing, production tax and operating-and-maintenance expenses supported the improvement.
Gathering expenses totaled 9 cents per Mcfe, up from the year-ago level of 8 cents. Transmission expenses stood at 40 cents per Mcfe, down from 45 cents recorded a year ago. Lease operating expenses amounted to 10 cents per Mcfe, up from 9 cents in the corresponding period of 2025. Selling, general and administrative expenses came in at 17 cents per Mcfe, up from the year-ago figure of 14 cents.
Cash Flow Improves for EQT
Adjusted EBITDA attributable to EQT increased to $1.07 billion from $1.03 billion in the prior-year period. Adjusted operating cash flow attributable to the company climbed to $1.01 billion from $794 million in the second quarter of 2025.
Free cash flow attributable to EQT climbed 37.6% to $329.7 million. Capital expenditures totaled $666.3 million, up from $553.6 million but 9% below the low end of guidance, reflecting operating efficiencies and lower infrastructure spending. The company paid $103 million in dividends during the second quarter of 2026.
EQT Strengthens Its Balance Sheet
EQT ended the second quarter with total debt of $5.7 billion and net debt of $5.5 billion, down from $7.8 billion and $7.69 billion, respectively, at the end of 2025.
The company had approximately $3.6 billion of liquidity and $52 million outstanding under its $3.5 billion revolving credit facility. Subsequent to quarter-end, EQT repaid $115 million of debentures due in 2026.
Production Outlook Rises for EQT
Management updated its full-year 2026 sales volume guidance to 2,375-2,450 Bcfe. Third-quarter production is projected to be between 570 Bcfe and 620 Bcfe, with 34-50 net wells scheduled to be turned in line.
Full-year maintenance capital spending is forecast at $2.04-$2.19 billion. The updated range incorporates a $25 million reduction in capital-spending guidance. Third-quarter maintenance expenditures are expected to be between $510 million and $580 million, while growth capital spending is projected at $200-$240 million.
EQT’s Zacks Rank & Key Picks
EQT currently has a Zacks Rank #4 (Sell).
Some better-ranked stocks from the energy sector are Par Pacific Holdings PARR, Valero Energy VLO, and FuelCell Energy FCEL. While Par Pacific sports a Zacks Rank #1 (Strong Buy), Valero Energy and FuelCell Energy carry a Zacks Rank #2 (Buy) each at present. You can see the complete list of today’s Zacks Rank #1 stocks here.
Par Pacific Holdings operates an integrated downstream energy business across the United States, with fuel retail operations in Hawaii, Washington and Idaho; refining operations in Hawaii, Wyoming, Washington and Montana; and a supporting logistics network. Its refineries have a combined crude oil throughput capacity of 219,000 barrels per day and produce gasoline, diesel, jet fuel, marine fuels, asphalt and other petroleum products.
Valero Energy is a leading refining player with a robust network of 14 refineries and a combined high-complexity throughput capacity of 3 million barrels per day, which distinguishes it from other independent refiners. VLO’s refineries have a combined Nelson Complexity Index of 11.5, which implies that they can process a wide variety of feedstocks, convert them into higher-value products and shift product yields according to market conditions.
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EQT Q2 Earnings and Revenues Miss Estimates on Lower Realized Prices

(RTTNews) - EQT Corporation (EQT) will host a conference call at 10:00 AM ET on July 22, 2026, to discuss Q2 26 earnings results.
To access the live webcast, log on to https://ir.eqt.com/investor-relations/events-and-presentations/events-calendar/default.aspx
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

EQT Corp. Q2 26 Earnings Conference Call At 10:00 AM ET

EQT Corporation (EQT) came out with quarterly earnings of $0.39 per share, missing the Zacks Consensus Estimate of $0.41 per share. This compares to earnings of $0.45 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of -4.88%. A quarter ago, it was expected that this company would post earnings of $2.23 per share when it actually produced earnings of $2.33, delivering a surprise of +4.48%.
Over the last four quarters, the company has surpassed consensus EPS estimates three times.
EQT, which belongs to the Zacks Oil and Gas - Exploration and Production - United States industry, posted revenues of $1.81 billion for the quarter ended June 2026, missing the Zacks Consensus Estimate by 1.36%. This compares to year-ago revenues of $1.6 billion. The company has topped consensus revenue estimates three times over the last four quarters.
The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.
EQT shares have lost about 8.5% since the beginning of the year versus the S&P 500's gain of 8.7%.
What's Next for EQT?
While EQT has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?
There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.
Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.
Ahead of this earnings release, the estimate revisions trend for EQT was unfavorable. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #4 (Sell) for the stock. So, the shares are expected to underperform the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $0.62 on $1.94 billion in revenues for the coming quarter and $4.25 on $9.31 billion in revenues for the current fiscal year.
Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Oil and Gas - Exploration and Production - United States is currently in the bottom 19% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.
One other stock from the same industry, Big Sky Industrial Inc. (BSIN), is yet to report results for the quarter ended June 2026.
This company is expected to post quarterly loss of $0.05 per share in its upcoming report, which represents a year-over-year change of +73.7%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days.
Big Sky Industrial Inc.'s revenues are expected to be $2.1 million, up 3.5% from the year-ago quarter.
Should You Invest in EQT Corporation (EQT)?
Before you invest in EQT Corporation (EQT), want to know the best stocks to buy for the next 30 days? Check out Zacks Investment Research for our free report on the 7 best stocks to buy.
Zacks Investment Research has been committed to providing investors with tools and independent research since 1978. For more than a quarter century, the Zacks Rank stock-rating system has more than doubled the S&P 500 with an average gain of +24.08% per year. (These returns cover a period from January 1, 1988 through May 6, 2024.)
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EQT Corporation (EQT) Lags Q2 Earnings and Revenue Estimates

(RTTNews) - EQT Corporation (EQT) revealed a profit for second quarter that Drops, from last year
The company's earnings totaled $211.425 million, or $0.34 per share. This compares with $784.147 million, or $1.30 per share, last year.
Excluding items, EQT Corporation reported adjusted earnings of $243.530 million or $0.39 per share for the period.
The company's revenue for the period fell 29.3% to $1.809 billion from $2.557 billion last year.
EQT Corporation earnings at a glance (GAAP) :
-Earnings: $211.425 Mln. vs. $784.147 Mln. last year. -EPS: $0.34 vs. $1.30 last year. -Revenue: $1.809 Bln vs. $2.557 Bln last year.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

EQT Corporation Reveals Fall In Q2 Bottom Line

The following companies are expected to report earnings after hours on 07/21/2026. Visit our Earnings Calendar for a full list of expected earnings releases.
Chubb Limited (CB)is reporting for the quarter ending June 30, 2026. The insurance (property & casualty) company's consensus earnings per share forecast from the 10 analysts that follow the stock is $6.63. This value represents a 7.98% increase compared to the same quarter last year. In the past year CB has beat the expectations every quarter. The highest one was in the 1st calendar quarter where they beat the consensus by 5.25%. Zacks Investment Research reports that the 2026 Price to Earnings ratio for CB is 13.17 vs. an industry ratio of 9.60, implying that they will have a higher earnings growth than their competitors in the same industry.
Capital One Financial Corporation (COF)is reporting for the quarter ending June 30, 2026. The financial services company's consensus earnings per share forecast from the 7 analysts that follow the stock is $4.85. This value represents a 11.50% decrease compared to the same quarter last year. The last two quarters COF had negative earnings surprises; the latest report they missed by -4.12%. Zacks Investment Research reports that the 2026 Price to Earnings ratio for COF is 10.58 vs. an industry ratio of 13.80.
Interactive Brokers Group, Inc. (IBKR)is reporting for the quarter ending June 30, 2026. The investment bankers company's consensus earnings per share forecast from the 2 analysts that follow the stock is $0.63. This value represents a 23.53% increase compared to the same quarter last year. IBKR missed the consensus earnings per share in the 1st calendar quarter of 2026 by -3.23%. Zacks Investment Research reports that the 2026 Price to Earnings ratio for IBKR is 35.95 vs. an industry ratio of 17.00, implying that they will have a higher earnings growth than their competitors in the same industry.
EQT Corporation (EQT)is reporting for the quarter ending June 30, 2026. The oil (us exp & production) company's consensus earnings per share forecast from the 6 analysts that follow the stock is $0.41. This value represents a 8.89% decrease compared to the same quarter last year. In the past year EQT has beat the expectations every quarter. The highest one was in the 1st calendar quarter where they beat the consensus by 4.48%. Zacks Investment Research reports that the 2026 Price to Earnings ratio for EQT is 11.54 vs. an industry ratio of 3.70, implying that they will have a higher earnings growth than their competitors in the same industry.
East West Bancorp, Inc. (EWBC)is reporting for the quarter ending June 30, 2026. The bank (west) company's consensus earnings per share forecast from the 7 analysts that follow the stock is $2.61. This value represents a 14.47% increase compared to the same quarter last year. In the past year EWBC has beat the expectations every quarter. The highest one was in the 1st calendar quarter where they beat the consensus by 4.47%. Zacks Investment Research reports that the 2026 Price to Earnings ratio for EWBC is 12.68 vs. an industry ratio of 13.90.
Annaly Capital Management Inc. (NLY)is reporting for the quarter ending June 30, 2026. The reit company's consensus earnings per share forecast from the 4 analysts that follow the stock is $0.75. This value represents a 2.74% increase compared to the same quarter last year. In the past year NLY has beat the expectations every quarter. The highest one was in the 1st calendar quarter where they beat the consensus by 2.7%. Zacks Investment Research reports that the 2026 Price to Earnings ratio for NLY is 7.52 vs. an industry ratio of 11.80.
Webster Financial Corporation (WBS)is reporting for the quarter ending June 30, 2026. The bank (northeast) company's consensus earnings per share forecast from the 6 analysts that follow the stock is $1.61. This value represents a 5.92% increase compared to the same quarter last year. In the past year WBS has beat the expectations every quarter. The highest one was in the 1st calendar quarter where they beat the consensus by 2.61%. Zacks Investment Research reports that the 2026 Price to Earnings ratio for WBS is 11.47 vs. an industry ratio of 11.40, implying that they will have a higher earnings growth than their competitors in the same industry.
Western Alliance Bancorporation (WAL)is reporting for the quarter ending June 30, 2026. The bank (west) company's consensus earnings per share forecast from the 6 analysts that follow the stock is $2.33. This value represents a 12.56% increase compared to the same quarter last year. In the past year WAL has beat the expectations every quarter. The highest one was in the 1st calendar quarter where they beat the consensus by 50%. Zacks Investment Research reports that the 2026 Price to Earnings ratio for WAL is 8.52 vs. an industry ratio of 13.90.
Range Resources Corporation (RRC)is reporting for the quarter ending June 30, 2026. The oil (us exp & production) company's consensus earnings per share forecast from the 6 analysts that follow the stock is $0.52. This value represents a 14.75% decrease compared to the same quarter last year. In the past year RRC has beat the expectations every quarter. The highest one was in the 1st calendar quarter where they beat the consensus by 14.73%. Zacks Investment Research reports that the 2026 Price to Earnings ratio for RRC is 10.60 vs. an industry ratio of 3.70, implying that they will have a higher earnings growth than their competitors in the same industry.
Hancock Whitney Corporation (HWC)is reporting for the quarter ending June 30, 2026. The banks (southeast) company's consensus earnings per share forecast from the 5 analysts that follow the stock is $1.55. This value represents a 13.14% increase compared to the same quarter last year. In the past year HWC has beat the expectations every quarter. The highest one was in the 1st calendar quarter where they beat the consensus by 2.7%. Zacks Investment Research reports that the 2026 Price to Earnings ratio for HWC is 11.95 vs. an industry ratio of 12.70.
Weatherford International plc (WFRD)is reporting for the quarter ending June 30, 2026. The oil (field services) company's consensus earnings per share forecast from the 4 analysts that follow the stock is $0.92. This value represents a 50.80% decrease compared to the same quarter last year. WFRD missed the consensus earnings per share in the 3rd calendar quarter of 2025 by -2.61%. Zacks Investment Research reports that the 2026 Price to Earnings ratio for WFRD is 13.16 vs. an industry ratio of -6.00, implying that they will have a higher earnings growth than their competitors in the same industry.
Bank OZK (OZK)is reporting for the quarter ending June 30, 2026. The bank (northeast) company's consensus earnings per share forecast from the 5 analysts that follow the stock is $1.46. This value represents a 7.59% decrease compared to the same quarter last year. The "days to cover" for this stock exceeds 11 days. Zacks Investment Research reports that the 2026 Price to Earnings ratio for OZK is 8.54 vs. an industry ratio of 11.40.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

After-Hours Earnings Report for July 21, 2026 : CB, COF, IBKR, EQT, EWBC, NLY, WBS, WAL, RRC, HWC, WFRD, OZK

EQT Corporation EQT is set to release second-quarter 2026 results on July 21, after market close. The Zacks Consensus Estimate for the to-be-reported quarter is pegged at a profit of 41 cents per share on revenues of $1.84 billion.
Let’s delve into the factors that might have influenced the pure-play Appalachian natural gas producer’s performance in the June-end quarter. Before that, it is worth taking a look at EQT’s previous-quarter performance.
Highlights of EQT’s Q1 Earnings & Surprise History
In the last reported quarter, EQT’s earnings beat the Zacks Consensus Estimate, driven by the increase in total sales volumes and higher realized natural gas equivalent prices. In fact, the company beat the Zacks Consensus Estimate in each of the trailing four quarters, delivering an average surprise of 10.17%. This is depicted in the graph below:
EQT Corporation Price and EPS Surprise
EQT’s Trend in Estimate Revision
The Zacks Consensus Estimate for EQT’s second-quarter earnings has seen one upward and six downward revisions over the past 30 days. The second-quarter estimated figure of 41 cents represents an 8.9% year-over-year decline. Meanwhile, The Zacks Consensus Estimate for revenues suggests a 14.8% increase from the prior-year quarter.
Factors to Note for EQT
EQT is expected to have sustained stable performance in the second quarter, supported by its vertically integrated business model, which enhances reliability and provides greater control over production volumes from the wellhead to the end market. We expect its total sales volumes to have remained flat compared to the second quarter of 2025, aiding its bottom line.
Another factor to consider is the pricing environment. According to the data provided by the U.S. Energy Information Administration, Henry Hub Natural Gas spot prices for the months of April, May and June of 2026 were $2.77 per million British thermal units (Btu), $2.94 per million Btu and $3.14 per million Btu, respectively. However, the benchmark prices were $3.42 per million Btu, $3.12 per million Btu and $3.02 per million Btu in April, May and June 2025, respectively. This suggests that commodity prices have declined compared with the prior-year quarter, which is expected to have negatively impacted earnings in the quarter.
EQT had entered 2026 largely unhedged, which enabled it to take advantage of the high natural gas price environment in the first quarter. However, this strategy may have backfired during periods of lower commodity prices.
These factors are expected to have influenced EQT’s performance in the to-be-reported quarter.
Earnings Whispers for EQT
Our proven model does not conclusively predict an earnings beat for EQT this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy), or 3 (Hold) increases the chances of an earnings beat. That is not the case here.
The natural gas producer has an Earnings ESP of -10.00% and a Zacks Rank #4 (Sell).
You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Stocks to Consider
Here are some other energy firms that you may want to consider, as they have the right combination of elements to post an earnings beat this reporting cycle.
HF Sinclair DINO currently has an Earnings ESP of +11.69% and a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank stocks here.
HF Sinclair is scheduled to release second-quarter earnings on July 28. The Zacks Consensus Estimate for HF Sinclair’s earnings is pegged at $3.93 per share, implying a 131.2% increase from the prior-year reported figure.
Enbridge Inc. ENB currently has an Earnings ESP of +2.27% and a Zacks Rank #3.
Enbridge is scheduled to release second-quarter earnings on July 31. The Zacks Consensus Estimate for ENB’s earnings is pegged at 44 cents per share, indicating a 6.4% decline from the prior-year reported figure.
Archrock Inc. AROC currently has an Earnings ESP of +10.07% and a Zacks Rank #3.
AROC is scheduled to release second-quarter earnings on Aug. 4. The Zacks Consensus Estimate for Archrock’s earnings is pegged at 46 cents per share, implying a 17.95% increase from the prior-year reported figure.
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EQT Corporation

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