Wed, Apr 23, 8:16 PM (22 days ago)
### EQT Corporation (EQT) Q1 2025 Financial Performance **Overview:** EQT Corporation (EQT) reported strong financial performance for the first quarter of 2025, driven by increased sales of natural gas, NGLs, and oil, as well as higher pipeline revenues. The company's net income attributable to EQT Corporation was $242.1 million, or $0.40 per diluted share, compared to $103.5 million, or $0.23 per diluted share, in the same period in 2024. **Revenue and Profit Margins:** - **Total Operating Revenues:** $1,739.9 million, up from $1,412.3 million in Q1 2024. - **Sales of Natural Gas, NGLs, and Oil:** $2,244.7 million, a significant increase from $1,303.9 million in Q1 2024. - **Pipeline, Net Marketing Services, and Other:** $174.0 million, up from $1,852 thousand in Q1 2024. **Operating Expenses:** - **Total Operating Expenses:** $1,243.6 million, slightly up from $1,229.5 million in Q1 2024. - **Transportation and Processing:** $378.2 million, down from $545.2 million in Q1 2024. - **Production:** $88.4 million, slightly down from $90.6 million in Q1 2024. - **Depreciation, Depletion, and Amortization:** $620.8 million, up from $486.8 million in Q1 2024. **Cash Flow:** - **Net Cash Provided by Operating Activities:** $1,741.2 million, up from $1,155.7 million in Q1 2024. - **Net Cash Used in Investing Activities:** $534.0 million, down from $567.2 million in Q1 2024. - **Net Cash Used in Financing Activities:** $1,127.5 million, up from $21.4 million in Q1 2024. **Earnings Changes:** - **Net Income:** $315.4 million, up from $103.1 million in Q1 2024. - **Net Income Attributable to EQT Corporation:** $242.1 million, up from $103.5 million in Q1 2024. **Segment Performance:** - **Production Segment:** Increased sales volume and higher average sales prices drove revenue growth. - **Gathering Segment:** Significant increase in revenues due to the acquisition of gathering assets in the Equitrans Midstream Merger. - **Transmission Segment:** New revenues from transmission assets acquired in the Equitrans Midstream Merger. **Trends and Uncertainties:** - **Commodity Prices:** Volatility in natural gas and NGL prices may impact future sales volume and operating revenues. - **Regulatory Environment:** Changes in regulations and tariffs could affect future sales volume and operating revenues. - **Capital Expenditures:** Planned capital expenditures for 2025 are expected to be between $600 million and $700 million. **Future Operations Impact:** - **Olympus Energy Acquisition:** Expected to close in Q3 2025, subject to regulatory approvals. - **Equitrans Midstream Merger:** Continued integration and optimization of acquired assets. **Conclusion:** EQT Corporation's Q1 2025 financial performance reflects strong revenue growth and improved profitability, driven by increased sales and higher pipeline revenues. The company's strategic acquisitions and operational efficiencies are expected to continue driving growth and value creation. However, commodity price volatility and regulatory uncertainties remain key risks to monitor.