EQT Q1 2026 Earnings Report — EQT Corporation Revenue & Financial Results | Market Cap Arena

EQT CorporationEQT

Q1 2026 Earnings

Reported April 22, 2026NEW

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	Q1 2026	Q4 2025	Q1 2025	QoQ Change	YoY Change
Revenue	$3.4B	$2.3B	—	48.6%	—
Op. Income	$2.0B	$915M	—	122.5%	—
Gross Margin	98.4%	45.9%	—	52.5pp	—
Net Margin	46.0%	29.8%	—	16.2pp	—
EPS (Diluted)	$2.49	$1.08	—	130.6%	—
Free Cash Flow	$2.5B	$521M	—	371.3%	—

Revenue Flow

Item	Amount
REVENUE	$3.4B
Cost of Revenue	$55M
GROSS PROFIT	$3.3B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$96M
Other Expenses	$1.2B
Operating Expenses	$1.3B
Cost & Expenses	$1.3B
OPERATING INCOME	$2.0B
Interest Income	$0
Interest Expense	$97M
Other Income/Expenses	-$49M
INCOME BEFORE TAX	$2.0B
Income Tax Expense	$433M
Net Income from Continuing Ops	$1.6B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$1.6B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$1.6B
D&A	$655M
EBIT	$2.0B
EBITDA	$2.7B
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$3.4B
Cost of Revenue	$55M
GROSS PROFIT	$3.3B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$96M
Other Expenses	$1.2B
Operating Expenses	$1.3B
Cost & Expenses	$1.3B
OPERATING INCOME	$2.0B
Interest Income	$0
Interest Expense	$97M
Other Income/Expenses	-$49M
INCOME BEFORE TAX	$2.0B
Income Tax Expense	$433M
Net Income from Continuing Ops	$1.6B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$1.6B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$1.6B
D&A	$655M
EBIT	$2.0B
EBITDA	$2.7B
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$1.6B
Depreciation & Amortization	$655M
Stock-Based Compensation	$19M
Deferred Income Tax	$410M
Other Non-Cash Items	-$129M
Change in Working Capital	$547M
OPERATING CASH FLOW	$3.1B
Capital Expenditure	-$599M
Acquisitions (Net)	$0
Purchases of Investments	-$28M
Sales/Maturities of Investments	$0
Other Investing Activities	-$216M
NET CASH FROM INVESTING	-$842M
Net Debt Issuance	-$1.8B
Common Stock Repurchased	$0
Common Dividends Paid	-$103M
Other Financing Activities	-$75M
NET CASH FROM FINANCING	-$2.0B
FREE CASH FLOW	$2.5B
Net Change in Cash	$216M

Balance Sheet

Item	Amount
Cash & Equivalents	$327M
Short-Term Investments	$0
Net Receivables	$953M
Inventory	$0
Other Current Assets	$277M
TOTAL CURRENT ASSETS	$1.6B
PP&E (Net)	$49.1B
Goodwill	$2.1B
Intangible Assets	$197M
Long-Term Investments	$3.9B
Tax Assets	$0
Other Non-Current Assets	-$15.1B
TOTAL NON-CURRENT ASSETS	$40.1B
TOTAL ASSETS	$41.7B
Account Payables	$1.4B
Short-Term Debt	$508M
Deferred Revenue	$0
Other Current Liabilities	$443M
TOTAL CURRENT LIABILITIES	$2.4B
Long-Term Debt	$5.2B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$3.9B
Other Non-Current Liabilities	$1.4B
TOTAL NON-CURRENT LIABILITIES	$10.5B
TOTAL LIABILITIES	$12.9B
Common Stock	$19.5B
Additional Paid-In Capital	$0
Retained Earnings	$5.6B
Treasury Stock	$0
Accum. Other Comp. Income	-$2M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$25.1B
Minority Interest	$3.7B
TOTAL EQUITY	$28.8B
TOTAL LIABILITIES & EQUITY	$41.7B
Total Debt	$5.7B
Net Debt	$5.4B