EQT Corporation income statement
In fiscal 2025, EQT Corporation reported revenue of $8.64bn, up 63.9% on the year before, operating income of $3.25bn (a 37.6% margin) and net income of $2.04bn, or $3.31 per diluted share. Every line below comes from the company's 10-K and 10-Q filings; column headings link to the filing.
Income statement
| Fiscal year | 2016Dec 2016 | 2017Dec 2017 | 2018Dec 2018 | 2019Dec 2019 | 2020Dec 2020 | 2021Dec 2021 | 2022Dec 2022 | 2023Dec 2023 | 2024Dec 2024 | 2025Dec 2025 | LTMSept 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 1,387 | 3,091 | 4,558 | 4,416 | 3,059 | 6,804 | 7,498 | 6,909 | 5,273 | 8,644 | 9,347 |
| Cost of revenue | 880 | 1,165 | 1,697 | 1,753 | 1,711 | 1,942 | 2,117 | 2,157 | 1,916 | 1,532 | 1,544 |
| Gross profit | 507 | 1,926 | 2,861 | 2,664 | 1,348 | 4,862 | 5,381 | 4,752 | 3,358 | 7,112 | 7,803 |
| Selling, general and administrative | 219 | 209 | 233 | 171 | 175 | 196 | 253 | 236 | 337 | 380 | 427 |
| Operating income | −755 | 382 | −2,783 | −1,152 | −878 | −1,361 | 2,718 | 2,314 | 685 | 3,250 | 3,906 |
| Interest expense | 131 | 168 | 229 | 200 | 259 | 290 | 250 | 220 | 455 | 439 | 350 |
| Income before tax | −894 | 199 | −3,077 | −1,597 | −1,254 | −1,570 | 2,335 | 2,103 | 264 | 2,978 | 3,740 |
| Income tax | −363 | −1,188 | −697 | −376 | −295 | −428 | 554 | 369 | 22 | 652 | 813 |
| Net income | −453 | 1,509 | −2,245 | −1,222 | −959 | −1,143 | 1,771 | 1,735 | 231 | 2,039 | 2,654 |
| Diluted EPS | −$2.71 | $8.04 | −$8.60 | −$4.79 | −$3.68 | −$3.54 | $4.38 | $4.22 | $0.45 | $3.31 | $4.22 |
| Diluted shares (average) | 167m | 188m | 261m | 255m | 261m | 323m | 406m | 413m | 515m | 616m | 629m |
| EBITDA | 101 | 1,353 | −1,214 | 387 | 516 | 316 | 4,384 | 4,047 | 2,848 | 5,850 | 6,558 |
| Quarter | 2024 Q4Dec 2024 | 2025 Q1Mar 2025 | 2025 Q2Jun 2025 | 2025 Q3Sept 2025 | 2025 Q4Dec 2025 | 2026 Q1Mar 2026 | 2026 Q2Jun 2026 | 2026 Q3Sept 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 1,625 | 1,740 | 2,558 | 1,959 | 2,388 | 3,379 | 1,810 | 1,770 |
| Cost of revenue | 387 | 378 | 389 | 377 | 388 | 400 | 385 | 371 |
| Gross profit | 1,238 | 1,362 | 2,169 | 1,581 | 2,000 | 2,978 | 1,425 | 1,400 |
| Selling, general and administrative | 108 | 91 | 82 | 99 | 108 | 96 | 106 | 116 |
| Operating income | 781 | 496 | 1,134 | 603 | 1,016 | 2,036 | 394 | 459 |
| Interest expense | 186 | 118 | 106 | 110 | 106 | 97 | 75 | 72 |
| Income before tax | 574 | 394 | 1,092 | 536 | 955 | 1,987 | 366 | 432 |
| Income tax | 147 | 79 | 236 | 129 | 208 | 433 | 85 | 87 |
| Net income | 418 | 242 | 784 | 336 | 677 | 1,487 | 211 | 279 |
| Diluted EPS | $0.84 | $0.40 | $1.30 | $0.53 | $1.08 | $2.36 | $0.34 | $0.44 |
| EBITDA | 1,402 | 1,117 | 1,758 | 1,292 | 1,684 | 2,691 | 1,084 | 1,099 |
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