EQT posts Q2 net loss of $67M, retires $800M debt; Tug Hill deal awaits FTC

EQT Corp

2023-Q2 EPS reported $2.94 revenue$3,679,822,000

Q2 net loss attributable to EQT of $67M vs +$891M a year ago; adjusted net loss of $62M vs +$340M.
Adjusted EBITDA fell to $360M from $943M; free cash flow negative $129M vs positive $543M.
Retired $800M debt in Q2, totaling $1.9B since Dec 2021; total debt at $4.7B.
Pending Tug Hill/XcL Midstream acquisition for ~$2.6B cash + 55M shares; closing expected Q3 2023.
2023 guidance maintained: 1,900-2,000 Bcfe, capex $1,700-$1,900M; added 2024 hedges at $3.64 floor.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

EQT Corp reported second quarter of 2023 results: net income $ (67), EPS $ (0.18).

Period: second quarter of 2023
Net income: $ (67)
EPS: $ (0.18)
Result: reported results

Exact text from the filing

Three Months Ended June 30, ($ millions, except average realized price and EPS) 2023 2022 Change Total sales volume (Bcfe) 471 502 (31) Average realized price ($/Mcfe) $ 2.11 $ 3.21 $ (1.10) Net (loss) income attributable to EQT Corporation $ (67) $ 891 $ (958) Adjusted net (loss) income attributable to EQT (a) $ (62) $ 340 $ (402) Diluted (loss) earnings per share (EPS) $ (0.18) $ 2.19 $ (2.37)

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Source: SEC EDGAR

accession 0000033213-23-000025

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