EQT Corporation reports Q2 adjusted EPS 45c, consensus 40c

Reports Q2 revenue $2.56B, consensus $1.75B. President and CEO Toby Rice stated, “Second quarter results highlight a continuation of operational excellence and robust financial performance at EQT. Production was at the high-end of guidance, benefiting from strong well productivity and compression project outperformance. Capital spending came in well below the low-end of guidance, driven by another record-setting quarter for completion efficiency and lower well costs. EQT has generated approximately $3.7 billion of cumulative net cash provided by operating activities and nearly $2 billion of cumulative free cash flow attributable to EQT over the past three quarters during which natural gas prices averaged $3.30 per MMBtu, underscoring the differentiated earnings power of our low-cost, integrated platform.”