EQT Q1 net income $1.22B, adj EPS $1.70; extends share buyback to Dec 2024

EQT Corp

2023-Q1 EPS reported $3.10 revenue$2,661,071,000

Net income $1.22B ($3.10 diluted EPS); adjusted net income $669M ($1.70 adj EPS).
Sales volumes 459 Bcfe, average realized price $4.11/Mcfe; free cash flow $774M.
Board extended share repurchase program to Dec 31, 2024; repurchased ~6M shares for $200M in Q1.
Pending Tug Hill/XcL Midstream acquisition for ~$2.6B cash + 55M shares; adds 90K net acres.
FY 2023 guidance maintained: 1,900-2,000 Bcfe sales volume; capex $1.7-1.9B.

item 2.02 item 8.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 1.0

EQT Corp reported first quarter 2023 results: net income $ 1,219, EPS $ 3.10.

Period: first quarter 2023
Net income: $ 1,219
EPS: $ 3.10
Result: reported results

Exact text from the filing

First Quarter 2023 Financial and Operational Performance Three Months Ended March 31, ($ millions, except average realized price and EPS) 2023 2022 Change Total sales volume (Bcfe) 459 492 (33) Average realized price ($/Mcfe) $ 4.11 $ 3.19 $ 0.92 Net income (loss) attributable to EQT Corporation $ 1,219 $ (1,516) $ 2,735 Adjusted net income attributable to EQT (a) $ 669 $ 334 $ 335 Diluted earnings (loss) per share $ 3.10 $ (4.05) $ 7.15

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Source: SEC EDGAR

accession 0000033213-23-000014

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