EQT Reports Third Quarter 2026 Results
EQT reported Q3 2026 sales volume of 583 Bcfe (including 21 Bcfe of strategic curtailments), with capital expenditures of $638 million coming in 10% below the low end of guidance. Quarterly earnings declined YoY — diluted EPS of $0.44 vs $0.53 and free cash flow attributable to EQT of $283M vs $484M — but operating cash flow rose to $1,083M and the differential beat guidance by $0.64 on marketing optimization. The balance sheet strengthened materially: net debt fell to ~$5.5 billion from $7.7 billion at year-end 2025, and the dividend was raised 3% to $0.68 per share annualized.
Key figures
- Eps
- 0.44
- Revenue
- $1,770.4M total operating revenues
- Guidance
- Q4 2026 sales volume 550-600 Bcfe (incl. 10-20 Bcfe curtailments); maintenance capex $540-610M; growth capex $185-225M; FY2026 sales volume 2,375-2,450 Bcfe
- Fcf
- 398000000
- Capex
- 638000000
- Net debt
- 5500000000
- Total debt
- 5600000000
- Adjusted eps
- 0.42
- Adjusted ebitda
- 1143000000
- Sales volume bcfe
- 583
- Dividend annualized
- $0.68/share
- Operating cash flow
- 1083000000
- Adjusted eps prior year
- 0.52
- Fcf attributable to eqt
- 283000000
- Q4 outlook maintenance capex
- $540-610M
- Total per unit operating cost
- $1.09/Mcfe
- Net income attributable to eqt
- 279000000
AI analysis
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