On October 22, 2025, EQT Corporation held its third‑quarter earnings call, announcing a net income attributable to EQT of $336 million and a diluted earnings‑per‑share of $0.53. The company reported total sales volume of 634 Bcfe, up 53 Bcfe from the same period last year, and an average realized price of $2.76 per Mcfe, a $0.38 increase over the prior year.
EQT generated free cash flow attributable to the company of $484 million on the quarter, driven by $1,018 million in net cash from operating activities and $618 million in capital expenditures. Adjusted EBITDA attributable to EQT reached $1,200 million, while adjusted operating cash flow was $1,221 million, underscoring the firm’s strong cash‑generating capability.
For the fourth quarter, EQT guided total sales volume to 550–600 Bcfe and capital expenditures to $635–735 million, with a projected free cash flow of $601 million. The company also reiterated its strategic focus on the MVP Boost open season, which will increase capacity to 600 MDth/d and support demand from utilities in the Southeast and Northern Virginia.
EQT’s management highlighted continued operational efficiency, noting that the company’s integrated platform has eliminated minimum volume commitments and reduced gathering costs. The call reaffirmed the company’s trajectory toward a $5 billion net‑debt target by mid‑2026 and its commitment to delivering high‑return organic growth through projects such as the MVP Boost and MVP Southgate expansions.
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