EQT (EQT) Q3 Earnings: Taking a Look at Key Metrics Versus Estimates

By Zacks Equity Research | October 27, 2025, 9:30 AM

For the quarter ended September 2025, EQT Corporation (EQT) reported revenue of $1.75 billion, up 26.7% over the same period last year. EPS came in at $0.52, compared to $0.12 in the year-ago quarter.

The reported revenue compares to the Zacks Consensus Estimate of $1.71 billion, representing a surprise of +2.6%. The company delivered an EPS surprise of +10.64%, with the consensus EPS estimate being $0.47.

While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.

As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.

Here is how EQT performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
  • Average Sales Price - Oil price: $49.12 versus $51.00 estimated by five analysts on average.
  • Natural gas - Average natural gas price, including cash settled derivatives: $2.66 versus $2.59 estimated by five analysts on average.
  • Average Sales Price - Natural gas price: $3.24 compared to the $3.02 average estimate based on five analysts.
  • NGLs, excluding ethane - NGLs price: $31.82 versus the four-analyst average estimate of $29.85.
  • Natural gas - Sales volume: 595,642.00 MMcf compared to the 591,651.10 MMcf average estimate based on four analysts.
  • Sales Volume - Total: 634,395.00 MMcfe compared to the 628,248.00 MMcfe average estimate based on four analysts.
  • Operating revenues- Pipeline, net marketing services and other: $145.17 million compared to the $149.76 million average estimate based on four analysts. The reported number represents a change of +23.8% year over year.
  • Operating revenues- Sales of natural gas, natural gas liquids and oil: $1.68 billion versus $1.71 billion estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +52.6% change.
  • Revenues from contracts with customers- NGLs sales: $139.33 million compared to the $139.47 million average estimate based on three analysts. The reported number represents a change of -0.3% year over year.
  • Total Natural Gas and Liquids Sales, Including Cash Settled Derivatives: $1.75 billion versus $1.64 billion estimated by three analysts on average.
  • Natural gas sales, including cash settled derivatives: $1.59 billion compared to the $1.59 billion average estimate based on two analysts.
  • Revenues from contracts with customers- Oil sales: $24.12 million versus the two-analyst average estimate of $16.67 million. The reported number represents a year-over-year change of +14.1%.

View all Key Company Metrics for EQT here>>>

Shares of EQT have returned -0.7% over the past month versus the Zacks S&P 500 composite's +2.5% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.

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This article originally published on Zacks Investment Research (zacks.com).

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