EQT Corp. (EQT) Tops Q4 EPS by 1c; offers outlook

EQT Corp. (NYSE: EQT) reported Q4 EPS of $0.48, $0.01 better than the analyst estimate of $0.47. Revenue for the quarter came in at $2.04 billion versus the consensus estimate of $1.58 billion.

OUTLOOK

In 2024, the Company expects total sales volume of 2,200 – 2,300 Bcfe. The Company expects maintenance capital expenditures to total $1,950 – $2,050 million in 2024. The Company also plans to spend $200 – $300 million on strategic growth capital expenditures, which targets opportunistic, high-return water, midstream and other infrastructure and land opportunities. During 2024, the Company plans to turn-in-line (TIL) 110 – 140 net wells, including 22 – 36 net wells expected to TIL in the first quarter of 2024. Total sales volume in the first quarter of 2024 is expected to be 525 – 575 Bcfe, which includes the impact of 10 – 15 Bcfe of lower sales volume due to non-operated midstream constraints. Inclusive of the Company\'s advantaged hedge position, the Company estimates a 2024 NYMEX Henry Hub free cash flow breakeven price of ~$2.20 per MMBtu

For earnings history and earnings-related data on EQT Corp. (EQT) click here.

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