EQT Stock Rises After Hours On Q4 Beat — Retail's Feeling The Energy
The company’s total sales volumes rose to 605 billion cubic feet equivalent (bcfe) of gas from 564 bcfe a year earlier.
FollowEQT Corp (EQT) stock rose 1.2% in extended trading on Tuesday after the natural gas producer’s fourth-quarter earnings topped Wall Street’s estimates.
The company reported adjusted earnings of $0.69 per share during the quarter ended on Dec. 31, while analysts, on average, expected the company to report $0.53 per share in earnings, according to FinChat data.
The company’s total sales volumes rose to 605 billion cubic feet equivalent (bcfe) of gas from 564 bcfe a year earlier, aided by continued operational efficiency gains and strong performance at its wells.
The Pittsburgh-based company booked an average realized price of $3.01 per thousand cubic feet equivalent (mcfe), up from $2.75 mcfe last year.
Free cash flow attributable to EQT more than doubled to $580 million at the end of the fourth quarter.
"EQT’s operations are firing on all cylinders, with material efficiency gains, robust well performance, and Equitrans integration momentum driving outperformance across the board,” CEO Toby Rice said.
The company said its operating costs declined to $1.07 per mcfe, from $1.27 per mcfe in the year-ago quarter, aided by a fall in gathering expenses following the acquisition of Equitrans Midstream Corp last year.
This was slightly offset by increased transmission costs due to capacity charges associated with the Mountain Valley Pipeline, which began operations in July last year.
EQT, one of the largest natural gas producers in the U.S., forecast 2025 production in the range of 2,175 to 2,275 bcfe, a rise of 125 bcfe compared to its earlier expectations.
EQT, whose gas production comes from the prolific Appalachian region, said it expects to drop from 3 to 2 frac crews at the end of the first quarter, months ahead of its earlier plan, due to further completion efficiency gains.
Retail sentiment on Stocktwits jumped to ‘extremely bullish’ (84/100) territory from ‘bullish’(56/100) a day ago, while retail chatter rose to ‘extremely high.’
EQT’s Sentiment Meter and Message Volume as of 09:12 p.m. ET on Feb. 18, 2025 | Source: Stocktwits
One user expected analysts to raise the stock’s price target following the earnings report.
Over the past year, EQT stock has gained 55.4%.
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