EQT Corporation Reports 53% Revenue Increase to $1.96 Billion in Latest Quarter

EQT Corporation reported significant financial improvements in its latest quarterly results, with total operating revenues reaching $1.96 billion for the three months ended September 30, 2025, a 53% increase from $1.28 billion in the same period last year. The company's net income attributable to EQT Corporation was $335.9 million, or $0.54 per share, compared to a net loss of $300.8 million, or $(0.54) per share, in the prior year. For the nine months ended September 30, 2025, revenues totaled $6.26 billion, up from $3.65 billion in 2024, while net income for the period was $1.36 billion, compared to a loss of $187.8 million in the previous year.

The substantial revenue growth was primarily driven by increased sales of natural gas, natural gas liquids (NGLs), and oil, which amounted to $1.68 billion in the third quarter, up from $1.10 billion in 2024. The increase in sales volume was attributed to the acquisition of assets from Olympus Energy, which contributed approximately 48 billion cubic feet equivalent (Bcfe) to sales volumes. Additionally, the average sales price for natural gas rose significantly, reflecting higher NYMEX prices. The company also reported a gain on derivatives of $135.8 million, compared to $66.8 million in the previous year.

EQT's operational metrics showed positive trends, with total sales volume for the third quarter reaching 634.4 Bcfe, a 9.1% increase from 581.4 Bcfe in 2024. The company’s capital expenditures for the nine months ended September 30, 2025, were approximately $1.67 billion, slightly down from $1.68 billion in the same period last year. The company’s employee headcount increased to 624,064 shares issued, reflecting its growth strategy and operational expansion.

Strategically, EQT completed the Olympus Energy Acquisition on July 1, 2025, acquiring significant oil and gas properties, which included approximately 90,000 net acres and a production capacity of 500 million cubic feet per day. This acquisition was funded through a combination of cash and stock, valued at approximately $1.47 billion. The company also reported a decrease in acquisition-related transaction costs, which fell to $21 million in the third quarter of 2025 from $275 million in the same period of 2024, contributing to improved profitability.

Looking ahead, EQT anticipates continued volatility in commodity prices, which may impact future revenues and operational decisions. The company plans to spend between $635 million and $735 million on capital expenditures in the fourth quarter of 2025, funded primarily through cash generated from operations and potential borrowings. The company remains focused on optimizing production and managing costs while navigating the evolving market landscape.