EQT Corp Beats Quarterly Profit Estimates on Higher Natgas Prices

U.S. natural gas futures rose more than 11% sequentially in the fourth quarter, driven by higher demand and increased pipeline volumes, following two quarters of falling prices.

EQT’s average realized price for natural gas during the quarter was up 14.3% from a year earlier at $3.44 per thousand cubic feet equivalent (Mcfe).

Its total quarterly sales volume rose to 608,994 million cubic feet equivalent (MMcfe) from 605,183 MMcfe a year ago. The company reported an adjusted profit of 90 cents per share for the quarter ended December 31, above analysts’ average estimate of 74 cents per share, according to data compiled by LSEG.

(Reporting by Pooja Menon in Bengaluru; Editing by Jonathan Ananda)