EQT Corp. Earnings: Falls Short of Expectations
S&P 500 (NYSE:SPY) component EQT Corporation (NYSE:EQT) reported its results for the second 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.
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EQT Corporation Earnings Cheat Sheet
Results: Net income for EQT Corporation fell to $31.4 million (21 cents per share) vs. $87.8 million (58 cents per share) a year earlier. This is a decline of 64.2% from the year-earlier quarter.
Actual vs. Wall St. Expectations: EQT Corporation fell short of the mean analyst estimate of 30 cents per share.
The company’s net income has fallen in each of the last two quarters. In the first quarter, net income fell 41.1% from the year-earlier quarter.
The company has now fallen short of estimates in the last two quarters. In the first quarter, it missed expectations by 11 cents with net income of 50 cents versus a mean estimate of net income of 61 cents per share.
Looking Forward: Over the past ninety days, the average estimate for the third quarter has fallen from 48 cents per share to 31 cents, indicating that analysts are growing pessisimistic about the company’s performance next quarter. At $1.66 per share, the average estimate for the fiscal year has fallen from $2.12 ninety days ago.
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(Company fundamentals provided by Xignite Financials. Earnings estimates provided by Zacks)
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