EQT Corp Earnings: Company Enjoys Fifth Straight Quarter of Double-Digit Growth

S&P 500 (NYSE:SPY) component EQT Corporation (NYSE:EQT) reported net income above Wall Street’s expectations for the fourth quarter. 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.

Investing Insights: Will the iPad 3 Be the Next Catalyst for Apple’s Stock?

EQT Earnings Cheat Sheet for the Fourth Quarter

Results: Net income for EQT Corporation rose to $90.8 million (60 cents per share) vs. $73.1 million (49 cents per share) in the same quarter a year earlier. This marks a rise of 24.3% from the year earlier quarter.

Revenue: Rose 34.3% to $498.5 million from the year earlier quarter.

Actual vs. Wall St. Expectations: EQT beat the mean analyst estimate of 54 cents per share. It beat the average revenue estimate of $357.4 million.

Key Stats:

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

The company has now topped analyst estimates for the last four quarters. It beat the mark by 2 cents in the third quarter, by 11 cents in the second quarter, and by 11 cents in the first quarter.

Revenue has risen the past four quarters. Revenue increased 30.8% to $336.7 million in the third quarter. The figure rose 35.5% in the second quarter from the year earlier and climbed 4.4% in the first quarter from the year-ago quarter.

Looking Forward: The outlook for the company’s results in the upcoming quarter is unfavorable. The average estimate for the first quarter of the next fiscal year is 66 cents per share, down from 77 cents ninety days ago. For the fiscal year, the average estimate has moved down from $2.20 a share to $2.16 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: Will the iPad 3 Be the Next Catalyst for Apple’s Stock?

(Company fundamentals provided by Xignite Financials. Earnings estimates provided by Zacks)

 

To contact the reporter on this story: Derek Hoffman at staff.writers@wallstcheatsheet.com

To contact the editor responsible for this story: Damien Hoffman at editors@wallstcheatsheet.com