EQT Corporation Second Quarter Earnings Sneak Peek

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S&P 500 (NYSE:SPY) component EQT Corporation (NYSE:EQT) will unveil its latest earnings on Thursday, July 26, 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 30 cents per share, a decline of 42.3% from the company’s actual earnings for the year-ago quarter. During the past three months, the average estimate has moved down from 43 cents. Between one and three months ago, the average estimate moved down. It also has dropped from 34 cents during the last month. For the year, analysts are projecting profit of $1.66 per share, a decline of 25.9% from last year.

Past Earnings Performance: Last quarter, the company missed estimates by 11 cents, coming in at net income of 50 cents per share versus a mean estimate of profit of 61 cents per share. In the fourth quarter of the last fiscal year, the company beat estimates by 5 cents.

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A Look Back: In the first quarter, profit fell 41.1% to $72 million (48 cents a share) from $122.3 million (82 cents a share) the year earlier, missing analyst expectations. Revenue fell 1.3% to $450 million from $455.7 million.

Stock Price Performance: Between May 23, 2012 and July 20, 2012, the stock price had risen $9.41 (20%), from $47.12 to $56.53. The stock price saw one of its best stretches over the last year between June 13, 2012 and June 20, 2012, when shares rose for six straight days, increasing 11.3% (+$5.14) 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 are projecting a rise of 6.4% in revenue from the year-earlier quarter to $348.6 million.

Key Stats:

On the top line, the company is looking to get back on the right track after last quarter’s drop snapped a string of revenue increases. Revenue rose 35.5% in the second quarter of the last fiscal year, 30.8% in the third quarter of the last fiscal year and 34.3%in the fourth quarter of the last fiscal year before dropping in the first quarter.

After last quarter’s profit drop broke a string of income increases, this earnings announcement is definitely a chance for a rebound. Net income rose more than twofold in the second quarter of the last fiscal year, more than fourfold in the third quarter of the last fiscal year and 24.3% in the fourth quarter of the last fiscal year before declining in the first quarter.

Balance Sheet Analysis: The company’s current ratio of assets to liabilities came in at 2.24 last quarter. Having a ratio above 2:1 is usually considered a good indicator of a company’s liquidity and ability to meet creditor demands.

Analyst Ratings: With 12 analysts rating the stock a buy, none rating it a sell and three rating the stock a hold, there are indications of a bullish stance by analysts.

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

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