-- CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:
EQT kicked off 2026 with a solid earnings beat, reporting adjusted EPS of $2.33 vs. $1.18, beating consensus by $0.24. The pricing environment provided significant tailwinds, with average realized prices of $5.08/Mcfe up 35% and volumes of 618 Bcfe up 8%. Growth drivers are tied to data center demand and LNG exports, with the company targeting Northern Virginia and Southeast markets for incremental data center and industrial demand. EQT guided to unchanged CY26 volume guidance of 2,275-2,375 Bcfe, though plans Q2 production cuts of 10-15 Bcfe due to recent pricing weakness with front-month Henry Hub around $2.75/Mcfe. The company plans CY 26 capex of $2.65B-$2.85B, implying 18% growth at the midpoint. Record quarterly FCF of $1.83B (up 77%) enabled further balance sheet strengthening, with net debt declining to $5.7B as EQT approaches its $5B long-term debt target. Total per-unit operating costs of $1.09/Mcfe came in below management guidance.