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PITTSBURGH - EQT Corporation (NYSE:EQT) reported better-than-expected first quarter 2025 results and raised its full-year production guidance, sending shares up 0.7% in after-hours trading.
The natural gas producer posted adjusted earnings per share of $1.18, beating analyst estimates of $0.98. Revenue came in at $2.24 billion, topping expectations of $2.19 billion.
EQT (ST:EQTAB) said it generated over $1 billion in free cash flow during the quarter, driven by strong well performance and lower-than-expected capital spending.
"EQT is off to an exceptional start in 2025, with the first quarter generating the strongest financial results in recent company history," said President and CEO Toby Z. Rice.
The company raised its 2025 production guidance by 25 Bcfe to a range of 2,200-2,300 Bcfe. It also lowered expected capital expenditures by $25 million at the midpoint to $1,950-$2,070 million.
Additionally, EQT announced it has agreed to acquire the assets of Olympus Energy for $1.8 billion, which it expects to be accretive. The deal includes 90,000 net acres adjacent to EQT’s core position in Southwest Pennsylvania.
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