Highest-materiality recent filing
EQT Q1 net income $1.49B, EPS $2.36; record FCF $1.83B; Fitch upgrade to BBB
Net income $1,487M ($2.36 diluted EPS); adjusted EPS $2.33 on revenue from 618 Bcfe sales volume.
EQT expects Q1 2026 derivative loss of $238M; net cash settlements $304M
Preliminary Q1 2026 total loss on derivatives of $238 million.
EQT upsizes tender offer to $1.4B, accepts ~$1.385B in senior notes
Upsized aggregate purchase cap from $1.15B to $1.4B; increased Offer SubCap for certain 2029 notes to $1.0B.
Tender offer up to $1.15B aggregate purchase price for 8 series of senior notes (3.900% to 7.500% coupons).
EQT Q4 2025 net income $677M, adj EPS $0.90; 2026 FCF guidance ~$3.5B
Q4 sales volume 609 Bcfe above guidance; capex $655M (4% below midpoint); free cash flow attributable $744M.
EQT calls all $496M of 7.500% Senior Notes due 2027 for redemption on Dec 30
Notice of redemption issued Dec 19, 2025 for all $495,925,000 outstanding 7.500% Senior Notes due 2027.
EQT Q3 2025 net income $336M ($0.53 EPS); record low costs, free cash flow $484M
Sales volume 634 Bcfe (top of guidance); per-unit operating costs $1.00/Mcfe (record low, 7% below midpoint).
EQT preliminarily reports $136M derivative gain for Q3 2025; net cash settlements of $75M
Expects total gain on derivatives of $136M for the three months ended Sept 30, 2025.
EQT Q2 net income $784M, EPS $1.30; raises 2025 production guidance by 100 Bcfe
Sales volume 568 Bcfe at high-end of guidance; capital expenditure $554M, 15% below guidance mid-point.
EQT subsidiary EQM to redeem all outstanding senior notes (~$93M) on July 31
EQM issued full redemption notices for seven series of senior notes totaling approx. $92.7M aggregate principal.
EQT closes Olympus Energy acquisition with $440M cash and 25.2M shares; revolver extended to 2030
Issued 25,229,166 shares and ~$440M cash to Sellers to close Olympus Energy Acquisition of oil & gas properties and midstream assets.
EQT Q1 adj EPS $1.18, FCF $1.04B; raises 2025 guidance; acquires Olympus for $1.8B
Q1 sales volume 571 Bcfe (high-end of guidance); net income $242M; adjusted net income $713M ($1.18 adj EPS).
EQT to issue 26M shares as partial consideration for acquisition from Olympus Energy
EQT will issue 26,031,237 common shares to Seller (Olympus Energy, Hyperion Midstream, Bow & Arrow Land) as part of the acquisition consideration.
EQT prelim Q1 2025: total derivatives loss $679M, net cash settlements paid $92M
Total loss on derivatives for Q1 2025 expected to be $679 million (preliminary).
EQT exchanges $3.87B in EQM notes for new notes; consent amendments secured
$3.869B of $4.542B outstanding EQM notes validly tendered (85.2%).
EQT tender for $1.17B of 3.900% notes due 2027: 79% tendered; cap limits acceptance, likely no post-early acceptance.
EQT and EQM commenced tender offers for any and all of EQM's $900M 6.500% Senior Notes due 2027 and up to $750M of EQT's 3.900% Notes due 2027.
EQT Q4 2024 net income $418M; free cash flow $588M; 2025 production guidance raised 125 Bcfe
Q4 2024 sales volume 605 Bcfe at high-end of guidance; capex $583M, 7% below low-end.
EQT expects Q4 2024 total loss on derivatives of $184M; net cash settlements of $181M
Preliminary Q4 2024 total loss on derivatives expected to be $184 million.
EQT closes $3.5B Blackstone midstream JV, repays $2.2B in debt
JV formed with Blackstone Credit & Insurance; JV contributed $3.5B cash for 350M Class B Units in PipeBox LLC.
EQT extends share repurchase program to Dec 2026; $1.4B remains available
Board approved two-year extension of share repurchase program, now expiring Dec 31, 2026.
EQT subsidiary EQM upsizes tender offer to $1.3B; early results show high tenders
EQM increased maximum aggregate purchase price from $1.275B to $1.3B for tender offer on four series of senior notes.
EQT forms midstream JV with Blackstone, receives $3.5B cash for MVP, Hammerhead, transmission assets
EQT subsidiaries contribute MVP Series A interests, Equitrans transmission/storage, and Hammerhead pipeline to new JV.
EQT forms $8.8B midstream JV with Blackstone, receives $3.5B cash; launches $1.275B debt tender
Blackstone invests $3.5B for non-controlling stake in JV containing MVP, FERC assets, Hammerhead; JV valued at ~$8.8B (12x EBITDA).
EQT Q3 net loss $301M, adjusted EPS $0.12; sells non-operated PA assets for $1.25B
Q3 2024 net loss $301M ($0.54 diluted loss); adjusted net income $69M ($0.12 adjusted EPS) vs prior yr income $81M ($0.20 EPS).
EQT announces workforce reduction of ~15% with $165M-$185M in pre-tax charges
Workforce reduction of 15% as part of Equitrans integration; includes former Equitrans executives and senior employees.
Closed Equitrans acquisition a quarter early, saving ~$150M; transforms into vertically integrated natural gas business.
EQT completes acquisition of Equitrans Midstream; projects $425M+ annual synergies
Acquisition closed July 22, 2024; Equitrans shareholders received 0.3504 EQT shares per share.
EQT shareholders approve share issuance for Equitrans merger; closing July 22
Share Issuance Proposal approved: 384.4M for, 568k against, 1.8M abstentions, 25.2M broker non-votes.
EQT closes $500M asset exchange with Equinor for NE PA natural gas interest
Closed sale of 40% non-operated interest in NE PA natural gas assets to Equinor USA.
the board of directors of EQT (the “Board”) increased the size of the Board by three members and appointed Vicky A. Bailey, Thomas F. Karam and Robert F. Vagt (collectively, the “Equitrans Designees”), each of whom was a member of the board of directors of Equitrans prior to the Effective Time, to the Board.
the board of directors of EQT (the “Board”) increased the size of the Board by three members and appointed Vicky A. Bailey, Thomas F. Karam and Robert F. Vagt (collectively, the “Equitrans Designees”), each of whom was a member of the board of directors of Equitrans prior to the Effective Time, to the Board.
the board of directors of EQT (the “Board”) increased the size of the Board by three members and appointed Vicky A. Bailey, Thomas F. Karam and Robert F. Vagt (collectively, the “Equitrans Designees”), each of whom was a member of the board of directors of Equitrans prior to the Effective Time, to the Board.
Max materiality 0.95 · Median 0.65 · Most common event other_material