EQT Corporation reports Q2 adjusted EPS (17c), consensus (25c)

Reports Q2 revenue $1.019B, consensus $1.03B. President and CEO Toby Z. Rice stated, “Our drilling and completions teams performed extremely well during the quarter, setting multiple internal and world records. These achievements underscore EQT‘s best-in-class execution capabilities and our continuous drive to push the envelope when it comes to achieving peak performance.” Rice continued, “On the capital returns front, we took another material step toward achieving our balance sheet goals by retiring $800M of incremental debt during the quarter. We have now retired a total of $1.9B of debt since initiating our shareholder return framework in late 2021, which has driven a step-change improvement in our leverage profile. We also signed an HOA for 1M tons per annum of Gulf Coast tolling capacity, marking the initial implementation of our risk-adjusted LNG strategy. Our scale, peer-leading inventory depth and environmental attributes uniquely position EQT to facilitate energy security and emissions reductions objectives both domestically and abroad.”