EQT Corp is expected to release its Q2 2026 10-Q filing in the upcoming earnings season. Last quarter: EQT delivered a standout Q1 FY2026 with revenue nearly doubling to $3.38B (+94.2% YoY) and net income surging 514% to $1.49B, driven by dramatically higher natural gas realizations and a significant reduction in long-term debt.
Drawn from management commentary in the Q1 2026 10-Q:
Total revenue jumped 94.2% YoY from $1.74B to $3.38B in Q1 FY2026, reflecting substantially higher realized natural gas prices compared to the prior-year period, which was characterized by depressed commodity prices. This price-driven uplift flowed powerfully through the income statement.
Operating income surged 310.3% to $2.04B, pushing the operating margin from 28.5% to 60.3% — a 31.7 percentage point improvement. Cost of revenue grew only 5.9% to $400M while SG&A rose a modest 4.7% to $95.8M, demonstrating strong operating leverage as revenue scaled.
Long-term debt fell 28.6% YoY from $8.39B to $5.99B, and total liabilities declined 15.7% to $12.91B. Stockholders' equity rose 21.2% to $25.12B, reflecting both earnings retention and the deleveraging effort. The debt-to-equity ratio improved to 0.51x.
Revenue
$3.38B
++94.20% YoY
EPS (Basic)
$2.38
++495.00% YoY
Operating Income
$2.04B
++310.27% YoY
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