EQT Corp Third Quarter Earnings Sneak Peek

S&P 500 (NYSE:SPY) component EQT Corporation (NYSE:EQT) will unveil its latest earnings on Thursday, October 25, 2012. 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.

EQT Corporation Earnings Preview Cheat Sheet

Wall St. Earnings Expectations: The average analyst estimate is for net income of 29 cents per share, a decline of 35.6% from the company’s actual earnings for the year-ago quarter. During the past three months, the average estimate has moved down from 31 cents. Between one and three months ago, the average estimate moved down. It has been unchanged at 29 cents during the last month. For the year, analysts are projecting profit of $1.50 per share, a decline of 33% from last year.

Past Earnings Performance: The company is looking to break the streak of missing estimates in the past two quarters. Last quarter, it fell short of analyst expectations by reporting net income of 21 cents per share against an estimate of profit of 30 cents per share. The quarter before that, it missed forecasts by 11 cents.

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A Look Back: In the second quarter, profit fell 64.2% to $31.4 million (21 cents a share) from $87.8 million (58 cents a share) the year earlier, missing analyst expectations. Revenue fell 3.2% to $337.8 million from $349 million.

Stock Price Performance: Between August 23, 2012 and October 19, 2012, the stock price had risen $5.73 (10.5%), from $54.44 to $60.17. The stock price saw one of its best stretches over the last year between August 14, 2012 and August 21, 2012, when shares rose for six straight days, increasing 2.8% (+$1.54) over that span. It saw one of its worst periods between January 5, 2012 and January 17, 2012 when shares fell for eight straight days, dropping 13.3% (-$7.49) over that span.

Wall St. Revenue Expectations: Analysts predict a rise of 4.7% in revenue from the year-earlier quarter to $343.9 million.

Key Stats:

After experiencing income drops the past two quarters, the company is hoping to use this earnings announcement to rebound. Net income dropped 41.1% in the first quarter and then again in the second quarter.

On the top line, the company is hoping to use this earnings announcement to snap a string of two-straight quarters of revenue declines. Revenue fell 1.3% in the first quarter and dropped again in the second quarter.

Analyst Ratings: With 11 analysts rating the stock a buy, none rating it a sell and four rating the stock a hold, there are indications of a bullish stance by analysts.

Balance Sheet Analysis: The company’s current ratio of assets to liabilities came in at 1.74 last quarter. The current ratio is an indication of a firm’s liquidity and ability to meet creditor demands and generally, for every dollar the company owes in the short term, it has that figure available in assets that can be converted to cash in the short term.

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

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