EQT earnings: what to look for from EQT
Natural gas producer EQT (NYSE:EQT) will be reporting earnings this Tuesday afternoon. Here’s what investors should know.
EQT missed analysts’ revenue expectations last quarter, reporting revenues of $1.68 billion, up 5.2% year on year. It was a slower quarter for the company, with a significant miss of analysts’ EPS estimates and a slight miss of analysts’ EBITDA estimates. It reported year-on-year oil production growth of 49.3%.
Is EQT a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting EQT’s revenue to be flat year on year, slowing from the 26.7% increase it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. EQT has missed Wall Street’s revenue estimates multiple times over the last two years.
Looking at EQT’s peers in the upstream & integrated segment, some have already reported their Q3 results, giving us a hint as to what we can expect. Kinder Morgan delivered year-on-year revenue growth of 9.3%, beating analysts’ expectations by 20.4%, and SLB reported revenues up 5.8%, topping estimates by 1.7%. Kinder Morgan’s stock price was unchanged following the results.
Read our full analysis of Kinder Morgan’s results here and SLB’s results here.
There has been positive sentiment among investors in the upstream & integrated segment, with share prices up 5.2% on average over the last month. EQT is up 12% during the same time and is heading into earnings with an average analyst price target of $66.54 (compared to the current share price of $55.86).
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