EQT posted second-quarter 2026 results showing total operating revenues of $1.81 billion and net income attributable to the company of $211.4 million. Adjusted net income attributable to EQT was $243.5 million, corresponding to adjusted diluted EPS of $0.39. The company generated $1.048 billion of net cash provided by operating activities and free cash flow attributable to EQT of $330 million for the quarter.

Financial Highlights

  • Total operating revenues: $1,809,940 thousand for the three months ended June 30, 2026.
  • Net income attributable to EQT: $211,425 thousand for the quarter; net income (company total) $281,448 thousand.
  • Adjusted net income attributable to EQT: $243,530 thousand; Adjusted EPS: $0.39 (diluted).
  • Operating income: $394,038 thousand for the quarter.
  • Cash flow and liquidity: Net cash provided by operating activities $1,048,012 thousand; free cash flow attributable to EQT $329,666 thousand; total debt $5,655,714 thousand and net debt $5,542,851 thousand as of June 30, 2026.

Business Highlights

  • Production and operations: Total sales volume of 634 Bcfe in Q2 2026, above prior-year and guidance high-end driven by strong well performance and system optimization.
  • Capital deployment: Capital expenditures of $666 million in the quarter; full-year maintenance CapEx guidance reduced and 2026 production guidance raised to 2,375–2,450 Bcfe.
  • Major contracts and projects: Signed a 10-year gas supply agreement to supply 325,000 Dth/d to a new 2 GW power plant in West Virginia with pricing linked to PJM power prices; signed a 5-year LNG offtake for 0.5 Mtpa beginning 2028.
  • Midstream and acquisitions: Closed acquisition of Blackline Midstream (two propane terminals in New England) for $77 million; advanced MVP Southgate with regulatory approvals and accelerated $85 million of capital contributions to complete construction by year-end 2026.
  • Operational milestones: Drilled the longest lateral in shale development history (>29,000') and set new basin-wide and EQT drilling time records; compression investments improved well performance and shallowed decline rates.

Original SEC Filing:

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