EQT Corp

EQT 10-Q · Q2 2025

EQT Q2 2025 request

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Income Statement

Income Statement
Metric Q2 2025 Q2 2024 YoY
Revenue (Q) — — —
Show Product Lines breakouts
Natural gas sales · Production 1,539,205 730,705 +110.6%
NGLs sales · Production 145,104 139,734 +3.8%
Oil sales · Production 16,190 19,078 -15.1%
Sales of natural gas, NGLs and oil 1,700,499 889,517 +91.2%
Sales of natural gas, NGLs and oil · Operating Segments 1,700,499 889,517 +91.2%
Sales of natural gas, NGLs and oil · Production 1,700,499 889,517 +91.2%
Total revenues from contracts with customers 1,837,676 892,633 +105.9%
Show Business Segments breakouts
Gathering · Operating Segments 150,672 74,300 +102.8%
Gathering · Operating Segments 320,269 74,300 +331.0%
Gathering · Operating Segments 169,597 — —
Transmission · Operating Segments 96,535 — —
Transmission · Operating Segments 38,048 — —
Transmission · Operating Segments 134,583 — —
Show Consolidation Items breakouts
Intersegment Elimination -317,675 -71,184 -346.3%
Revenue (Q) — — —
Show Business Segments breakouts
Gathering · Operating Segments 320,269 74,300 +331.0%
Production · Operating Segments 2,420,542 949,396 +155.0%
Transmission · Operating Segments 134,583 — —
Show — breakouts
Revenue 2,557,719 952,512 +168.5%
Show Consolidation Items breakouts
Material Reconciling Items -317,675 -71,184 -346.3%
Operating Segments 2,875,394 1,023,696 +180.9%
Cost of Revenue (Q) — — —
Show Business Segments breakouts
Production · Operating Segments 706,139 614,252 +15.0%
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Cost of Revenue 389,116 543,067 -28.3%
Show Consolidation Items breakouts
Material Reconciling Items -317,023 -71,185 -345.4%
Operating Segments 706,139 614,252 +15.0%
Total Costs & Expenses (Q) — — —
Show Business Segments breakouts
Gathering · Operating Segments 114,864 20,429 +462.3%
Production · Operating Segments 1,413,432 956,408 +47.8%
Transmission · Operating Segments 44,527 — —
Show — breakouts
Total Costs & Expenses 1,423,681 949,541 +49.9%
Show Consolidation Items breakouts
Material Reconciling Items -149,142 -27,296 -446.4%
Operating Segments 1,572,823 976,837 +61.0%
Selling, General & Administrative (Q) — — —
Show Business Segments breakouts
Gathering · Operating Segments 12,921 — —
Production · Operating Segments 46,708 67,207 -30.5%
Transmission · Operating Segments 8,107 — —
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Selling, General & Administrative 81,586 67,207 +21.4%
Show Consolidation Items breakouts
Material Reconciling Items 13,850 — —
Operating Segments 67,736 67,207 +0.8%
Operating Income (Q) — — —
Show Business Segments breakouts
Gathering · Operating Segments 205,405 53,871 +281.3%
Production · Operating Segments 1,007,110 -7,012 +14462.7%
Transmission · Operating Segments 90,056 — —
Show — breakouts
Operating Income 1,134,038 2,971 +38070.2%
Show Consolidation Items breakouts
Intersegment Elimination 687 — —
Material Reconciling Items -168,533 -43,888 -284.0%
Operating Segments 1,302,571 46,859 +2679.8%
Interest Expense (Q) — — —
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Interest Expense 105,668 55,720 +89.6%
Show Consolidation Items breakouts
Material Reconciling Items 105,668 55,720 +89.6%
Other Non-Operating Income (Expense) (Q) — — —
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Other Non-Operating Income (Expense) -2,616 -19,431 +86.5%
Show Consolidation Items breakouts
Material Reconciling Items -2,616 -19,431 +86.5%
Income Before Taxes (Q) — — —
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Income Before Taxes 1,092,271 -34,983 +3222.3%
Income Tax Expense (Benefit) (Q) — — —
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Income Tax Expense (Benefit) 235,615 -44,222 +632.8%
Net Income (Q) — — —
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Net Income 784,147 9,517 +8139.4%
Net Income (Q) — — —
Show Equity Components breakouts
Noncontrolling Interest 72,509 -278 +26182.4%
Retained Earnings 784,147 9,517 +8139.4%
Show — breakouts
Net Income 856,656 9,239 +9172.2%
Comprehensive Income (Q) — — —
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Comprehensive Income 784,201 9,560 +8102.9%
EPS (Basic) (Q) — — —
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EPS (Basic) 1.31 0.02 +6450.0%
EPS (Diluted) (Q) — — —
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EPS (Diluted) 1.3 0.02 +6400.0%
Wtd Avg Shares (Basic) (Q) — — —
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Wtd Avg Shares (Basic) 599,221 441,968 +35.6%
Wtd Avg Shares (Diluted) (Q) — — —
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Wtd Avg Shares (Diluted) 602,924 444,921 +35.5%
Income Loss From Equity Method Investments (Q) — — —
Show Business Segments breakouts
Transmission · MVP Joint Venture 41.6 — —
Net Income Loss Attributable To Noncontrolling Interest (Q) — — —
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Net Income Loss Attributable To Noncontrolling Interest 72,509 -278 +26182.4%

Balance Sheet

Balance Sheet
Metric Q2 2025 Q2 2024 YoY
Current Assets
Cash & Cash Equivalents (Q) — — —
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Cash & Cash Equivalents 555,492 — —
Show Consolidation Items breakouts
Material Reconciling Items 555,492 29,974 +1753.2%
Accounts Receivable (Q) — — —
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Accounts Receivable 817,402 586,995 +39.3%
Derivative Fair Value Of Derivative Asset (Q) — — —
Show Fair Value Hierarchy breakouts
Fair Value Inputs Level1 · Fair Value Measurements Recurring 16,909 — —
Fair Value Inputs Level2 · Fair Value Measurements Recurring 102,025 — —
Show Derivative Risk breakouts
Commodity Contract 118,934 — —
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Derivative Fair Value Of Derivative Asset 118,934 — —
Show Fair Value By Measurement Basis breakouts
Estimate Of Fair Value Fair Value Disclosure · Fair Value Measurements Recurring 118,934 — —
Prepaid Expenses Other Assets And Margin Requirements With Counterparties Current (Q) — — —
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Prepaid Expenses Other Assets And Margin Requirements With Counterparties Current 139,508 98,806 +41.2%
Total Current Assets (Q) — — —
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Total Current Assets 1,631,336 1,229,827 +32.6%
Non-Current Assets
Property, Plant & Equipment (Q) — — —
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Property, Plant & Equipment 31,624,191 23,176,286 +36.5%
Goodwill (Q) — — —
Show Business Segments breakouts
Transmission · Operating Segments 1,231,783 — —
Show — breakouts
Goodwill 2,062,462 — —
Show Consolidation Items breakouts
Material Reconciling Items 830,679 — —
Operating Segments 1,231,783 — —
Other Non-Current Assets (Q) — — —
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Other Non-Current Assets 517,669 — —
Show Consolidation Items breakouts
Material Reconciling Items 494,699 111,666 +343.0%
Total Assets (Q) — — —
Show Business Segments breakouts
Gathering · Operating Segments 8,276,505 1,479,044 +459.6%
Production · Operating Segments 22,027,485 22,994,946 -4.2%
Transmission · Operating Segments 7,635,142 — —
Show — breakouts
Total Assets 39,666,748 24,706,469 +60.6%
Show Consolidation Items breakouts
Intersegment Elimination -256,941 -44,526 -477.1%
Operating Segments 37,939,132 24,473,990 +55.0%
Other Assets
Property Plant And Equipment Gross (Q) — — —
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Property Plant And Equipment Gross 45,260,546 34,953,757 +29.5%
Accumulated Depreciation Depletion And Amortization Property Plant And Equipment (Q) — — —
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Accumulated Depreciation Depletion And Amortization Property Plant And Equipment 13,636,355 11,777,471 +15.8%
Investments In Affiliates Subsidiaries Associates And Joint Ventures (Q) — — —
Show Business Segments breakouts
Transmission · Operating Segments 3,503,025 — —
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Investments In Affiliates Subsidiaries Associates And Joint Ventures 3,623,219 — —
Show Consolidation Items breakouts
Operating Segments 3,503,025 — —
Intangible Assets Net Excluding Goodwill (Q) — — —
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Intangible Assets Net Excluding Goodwill 207,871 — —
Current Liabilities
Current Portion of Long-Term Debt (Q) — — —
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Current Portion of Long-Term Debt 391,801 6,388 +6033.4%
Accounts Payable (Q) — — —
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Accounts Payable 1,151,663 1,198,215 -3.9%
Derivative Fair Value Of Derivative Liability (Q) — — —
Show Fair Value Hierarchy breakouts
Fair Value Inputs Level1 · Fair Value Measurements Recurring 47,637 — —
Fair Value Inputs Level2 · Fair Value Measurements Recurring 147,186 — —
Show Derivative Risk breakouts
Commodity Contract 194,823 — —
Show — breakouts
Derivative Fair Value Of Derivative Liability 194,823 — —
Show Fair Value By Measurement Basis breakouts
Estimate Of Fair Value Fair Value Disclosure · Fair Value Measurements Recurring 194,823 — —
Interest Payable Current (Q) — — —
Show — breakouts
Interest Payable Current 143,040 — —
Other Liabilities Current (Q) — — —
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Other Liabilities Current 425,080 305,005 +39.4%
Total Current Liabilities (Q) — — —
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Total Current Liabilities 2,306,407 1,685,568 +36.8%
Non-Current Liabilities
Deferred Tax Liabilities (Q) — — —
Show — breakouts
Deferred Tax Liabilities 3,122,972 1,882,264 +65.9%
Asset Retirement Obligations And Other Liabilities Noncurrent (Q) — — —
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Asset Retirement Obligations And Other Liabilities Noncurrent 1,216,283 — —
Total Liabilities (Q) — — —
Show — breakouts
Total Liabilities 14,568,898 9,581,721 +52.0%
Long-Term Debt (Q) — — —
Show Debt Instrument breakouts
EQM's 4.50% notes due January 15, 2029 · Senior Notes 8,031 — —
EQM's 4.75% notes due January 15, 2031 · Senior Notes 9,177 — —
EQM's 6.375% notes due April 1, 2029 · Senior Notes 3,307 — —
EQM's 6.500% notes due July 1, 2027 · Senior Notes 52,222 — —
EQM's 6.500% notes due July 15, 2048 · Senior Notes 13,164 — —
EQM's 7.500% notes due June 1, 2027 · Senior Notes 4,142 — —
EQM's 7.500% notes due June 1, 2030 · Senior Notes 5,894 — —
EQT's 3.125% notes due May 15, 2026 · Senior Notes 391,801 — —
EQT's 3.625% notes due May 15, 2031 · Senior Notes 431,157 — —
EQT's 3.90% notes due October 1, 2027 · Senior Notes 934,206 — —
EQT's 4.50% notes due January 15, 2029 · Senior Notes 706,891 — —
EQT's 4.75% notes due January 15, 2031 · Senior Notes 1,039,524 — —
EQT's 5.00% notes due January 15, 2029 · Senior Notes 316,117 — —
EQT's 5.500% notes due July 15, 2028 · Senior Notes 45,027 — —
EQT's 5.700% notes due April 1, 2028 · Senior Notes 493,773 — —
EQT's 5.750% notes due February 1, 2034 · Senior Notes 743,193 — —
EQT's 6.375% notes due April 1, 2029 · Senior Notes 603,781 — —
EQT's 6.500% notes due July 1, 2027 · Senior Notes 346,700 — —
EQT's 6.500% notes due July 15, 2048 · Senior Notes 68,083 — —
EQT's 7.000% notes due February 1, 2030 · Senior Notes 671,952 — —
EQT's 7.500% notes due June 1, 2027 · Senior Notes 504,440 — —
EQT's 7.500% notes due June 1, 2030 · Senior Notes 525,994 — —
EQT's 7.75% debentures due July 15, 2026 · Senior Notes 114,461 — —
Eureka's revolving credit facility maturing November 13, 2027 · Line Of Credit 282,000 — —
Show — breakouts
Long-Term Debt 8,315,037 — —
Long-Term Debt (Q) — — —
Show — breakouts
Long-Term Debt 7,923,236 4,945,398 +60.2%
Other Liabilities
Long Term Line Of Credit (Q) — — —
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Long Term Line Of Credit 282,000 47,000 +500.0%
Senior Notes (Q) — — —
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Senior Notes 7,641,236 4,321,702 +76.8%
Stockholders' Equity
Common Stock Value Outstanding (Q) — — —
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Common Stock Value Outstanding 17,999,758 12,464,492 +44.4%
Retained Earnings (Q) — — —
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Retained Earnings 3,425,732 2,655,940 +29.0%
Accumulated Other Comprehensive Income (Q) — — —
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Accumulated Other Comprehensive Income -2,230 -2,598 +14.2%
Total Stockholders' Equity (Q) — — —
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Total Stockholders' Equity 21,423,260 15,117,834 +41.7%
Minority Interest (Q) — — —
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Minority Interest 3,674,590 6,914 +53047.1%
Stockholders Equity Including Portion Attributable To Noncontrolling Interest (Q) — — —
Show Equity Components breakouts
Accumulated Other Comprehensive Income -2,230 -2,598 +14.2%
Common Stock 17,999,758 12,464,492 +44.4%
Noncontrolling Interest 3,674,590 6,914 +53047.1%
Retained Earnings 3,425,732 2,655,940 +29.0%
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Stockholders Equity Including Portion Attributable To Noncontrolling Interest 25,097,850 15,124,748 +65.9%
Total Liabilities & Equity (Q) — — —
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Total Liabilities & Equity 39,666,748 24,706,469 +60.6%

Cash Flow Statement

Cash Flow Statement
Metric YTD Q2 2025 YTD Q2 2024 YoY
Operating Activities
Depreciation & Amortization (YTD) — — —
Show Business Segments breakouts
Gathering · Operating Segments 103,456 7,509 +1277.8%
Production · Operating Segments 1,084,412 940,221 +15.3%
Transmission · Operating Segments 45,935 — —
Show — breakouts
Depreciation & Amortization 1,244,246 952,732 +30.6%
Show Consolidation Items breakouts
Material Reconciling Items 10,443 5,002 +108.8%
Operating Segments 1,233,803 947,730 +30.2%
Stock-Based Compensation (YTD) — — —
Show — breakouts
Stock-Based Compensation 28,535 22,650 +26.0%
Other Non-Cash Items (YTD) — — —
Show — breakouts
Other Non-Cash Items 3,358 8,317 -59.6%
Change in Accounts Receivable (YTD) — — —
Show — breakouts
Change in Accounts Receivable 295,699 238,579 +23.9%
Change in Accounts Payable (YTD) — — —
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Change in Accounts Payable 10,253 -47,115 +121.8%
Net Cash from Operations (YTD) — — —
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Net Cash from Operations 2,982,866 1,477,708 +101.9%
Investing Activities
Capital Expenditures (YTD) — — —
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Capital Expenditures -1,049,289 -1,092,633 +4.0%
Other Investing Activities (YTD) — — —
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Other Investing Activities -245 -80 -206.2%
Net Cash from Investing (YTD) — — —
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Net Cash from Investing -1,198,032 -879,212 -36.3%
Financing Activities
Tax Withholding for Share Compensation (YTD) — — —
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Tax Withholding for Share Compensation -53,253 -34,413 -54.7%
Debt Issuance Costs (YTD) — — —
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Debt Issuance Costs -7,238 -8,511 +15.0%
Net Cash from Financing (YTD) — — —
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Net Cash from Financing -1,431,435 -649,499 -120.4%
Supplemental
Income Taxes Paid (YTD) — — —
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Income Taxes Paid -78,931 4,850 -1727.4%
Interest Paid (YTD) — — —
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Interest Paid 241,824 104,940 +130.4%
Other Cash Flow
Net Change in Cash (YTD) — — —
Show — breakouts
Net Change in Cash 353,399 -51,003 +792.9%

Values in thousands USD. Source: SEC EDGAR 10-Q filing.

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