On October 21, 2025, EQT Corporation released its third‑quarter 2025 financial results, reporting a net income attributable to EQT of $336 million, a dramatic turnaround from a $301 million loss in the same period a year earlier. Total sales volume rose to 634 Bcfe, up 53 Bcfe from 581 Bcfe in Q3 2024, while the average realized price climbed to $2.76 per Mcfe, a $0.38 increase over the prior year. The company also posted a diluted earnings per share of $0.53, compared with a $‑0.54 loss in Q3 2024.
Adjusted net income attributable to EQT reached $329 million, up $238 million from $91 million in Q3 2024, and adjusted EPS rose to $0.52 from $0.16. Free cash flow attributable to EQT was $484 million, a $609 million swing from a $125 million loss in the prior year, while capital expenditures totaled $618 million, slightly above the $558 million spent in Q3 2024. Net cash provided by operating activities grew to $1,018 million from $593 million, underscoring the company’s improved operating efficiency.
The results were driven by higher natural gas prices and increased sales volumes, with the company reporting 634 Bcfe of sales volume versus 581 Bcfe in the same period last year. Average realized price of $2.76 per Mcfe reflects a $0.38 gain over the prior year, supporting the company’s ability to capture higher price realizations. Production and operational efficiencies continued to improve, contributing to the strong financial performance.
For the fourth quarter of 2025, EQT expects total sales volume of 550–600 Bcfe and capital expenditures of $635–735 million. The company also projects adjusted EBITDA of $1,200–$1,328 million for the full year, reflecting continued operational gains. Management reiterated its confidence in the company’s integrated platform and its ability to generate free cash flow while pursuing strategic growth projects.
The content on BeyondSPX is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.