EQT Corp Earnings Cheat Sheet: Fifth Consecutive Quarter of Double-Digit Growth

S&P 500 (NYSE:SPY) component EQT Corporation (NYSE:EQT) reported higher profit for the third quarter as revenue showed growth. EQT offers energy products including natural gas, NGLs, and a limited amount of crude oil and services to wholesale and retail customers in the United States.

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EQT Earnings Cheat Sheet for the Third Quarter

Results: Net income for EQT Corporation rose to $178.9 million ($1.19 per share) vs. $36.5 million (24 cents per share) in the same quarter a year earlier. This is a more than fourfold rise from the year earlier quarter.

Revenue: Rose 30.8% to $336.7 million from the year earlier quarter.

Actual vs. Wall St. Expectations: EQT reported adjusted net income of 45 cents per share. By that measure, the company beat the mean estimate of 43 cents per share. It beat the average revenue estimate of $312.6 million.

Key Stats:

The company has now seen net income rise in three straight quarters. In the second quarter, net income rose more than twofold and in the first quarter, the figure rose 38.8%.

The company has now topped analyst estimates for the last four quarters. It beat the mark by 11 cents in the second quarter, by 11 cents in the first quarter, and by 9 cents in the fourth quarter of the last fiscal year.

Revenue has risen the past four quarters. Revenue increased 35.5% to $349 million in the second quarter. The figure rose 4.4% in the first quarter from the year earlier and climbed 7.9% in the fourth quarter of the last fiscal year from the year-ago quarter.

Looking Forward: Analysts appear increasingly negative about the company’s results for the next quarter. The average estimate for the fourth quarter has moved down from 64 cents a share to 58 cents over the last sixty days. For the fiscal year, the average estimate has moved up from $2.11 a share to $2.20 over the last ninety days.

Competitors to Watch: MarkWest Energy Partners, L.P. (NYSE:MWE), Williams Companies, Inc. (NYSE:WMB), Chevron Corporation (NYSE:CVX), Exxon Mobil Corporation (NYSE:XOM), Marathon Oil Corporation (NYSE:MRO), Southwestern Energy Co. (NYSE:SWN), BG Group plc (BRGYY), Talisman Energy Inc. (NYSE:TLM), Enterprise Products Partners L.P. (NYSE:EPD), and Questar Corporation (NYSE:STR).

Investing Insights: Here’s Why Chipotle’s Stock Keeps Winning.

(Source: Xignite Financials)