EQT Earnings: Four Quarters in a Row of Falling Profit
S&P 500 (NYSE:SPY) component EQT Corporation (NYSE:EQT) reported its results for the third 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 $36.7 million (21 cents per share) vs. $67.6 million (45 cents per share) a year earlier. This is a decline of 45.7% from the year-earlier quarter.
Revenue: Rose 0.3% to $329.7 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: EQT Corporation fell short of the mean analyst estimate of 30 cents per share. It fell short of the average revenue estimate of $348.6 million.
The company has now come in under analyst forecasts for three quarters in a row. It missed the mark by 9 cents in the second quarter and by 11 cents in the first quarter.
Looking Forward: The outlook for the company’s results in the upcoming quarter is unfavorable. The average estimate for the fourth quarter is 46 cents per share, down from 49 cents ninety days ago. The average estimate for the fiscal year is $1.52 per share, down from $1.66 ninety days ago.
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(Company fundamentals provided by Xignite Financials. Earnings estimates provided by Zacks)
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