EQT Posts 42c Adjusted EPS for Third Quarter
EQT sits 17% above its 52-week low of $47.937 on elevated volume (2.2× avg).
Summary
EQT reported third-quarter adjusted earnings of 44 cents a share, its first results print since the $50 billion-plus all-stock deal to acquire Range Resources was announced October 26. The quarter itself is backward-looking, but it lands while the market is still digesting a transformative merger that will reshape the combined company's scale. Q2 had already shown a steep earnings drop on weak gas prices, so this figure is the first read on whether pricing and cost trends stabilized. The quarter came with net income of $278.7M and revenue of $1.77B, and the company cut net debt to $5.5B.
At the time of this announcement, EQT was trading at $56.22 on NYSE in the Energy & Transportation sector, with a market capitalization of approximately $35.2B. The 52-week trading range was $47.94 to $68.24. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: Dow Jones Newswires.