EQT closes Equitrans Midstream acquisition ahead of plan; Q2 sales volume beats guidance, net income swings to $10M

EQT Corp

2024-Q2 EPS reported $0.25 revenue$2,364,780,000

Closed Equitrans acquisition a quarter early, saving ~$150M; transforms into vertically integrated natural gas business.
Q2 sales volume 508 Bcfe above high-end guidance; average realized price $2.33/Mcfe.
Net income $10M vs loss $67M YoY; adjusted net loss $34M; adjusted EBITDA $464M.
Total debt down to $5.0B from $5.8B; retired $600M notes; credit facility expanded to $3.5B.
Reaffirmed 2024 guidance: sales volume 2,100-2,200 Bcfe, maintenance capex $1.95-2.05B.

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