EQT Corp (EQT) financial statements: income statement, balance sheet and cash flow
EQT Corp's income statement, balance sheet and cash flow statement as filed with the SEC (10-K and 10-Q), with the latest fiscal years and quarters. In its latest fiscal year (Dec 31, 2025 · FY), EQT Corp reported revenue of $8.6B (+63.9% year on year) and net income of $2.3B (+860.6% year on year).
Income statement
EQT Corp income statement, fiscal years
Line item
Dec 31, 2025 · FY
Dec 31, 2024 · FY
Dec 31, 2023 · FY
Dec 31, 2022 · FY
Sales of natural gas, natural gas liquids and oil
$7.7B
$4.9B
$5.0B
$12.1B
Gain (loss) on derivatives
$291.0M
$51.1M
$1.8B
($4.6B)
Pipeline and other
$626.5M
—
—
—
Total operating revenues
$8.6B
$5.3B
$6.9B
$7.5B
Transportation and processing
$1.5B
$1.9B
$2.2B
$2.1B
Production
$388.7M
$377.0M
$254.7M
$301.0M
Operating and maintenance
$225.1M
$110.4M
—
—
Exploration
$3.6M
$2.7M
$3.3M
$3.4M
Selling, general and administrative
$380.1M
$336.7M
$236.2M
$252.6M
Depreciation, depletion and amortization
$2.6B
$2.2B
$1.7B
$1.7B
(Gain) loss on sale/exchange of long-lived assets
($31.2M)
($764.0M)
$17.4M
($8.4M)
Impairment and expiration of leases
$51.2M
$97.4M
$109.4M
$176.6M
Other operating expenses
$244.7M
$349.9M
$84.0M
$57.3M
Total operating expenses
$5.4B
$4.6B
$4.6B
$4.8B
Operating income
$3.2B
$685.3M
$2.3B
$2.7B
Income from investments
($184.4M)
($76.0M)
($7.6M)
$4.9M
Other income
($4.8M)
($26.0M)
($1.2M)
($11.3M)
Loss on debt extinguishment
$22.7M
$68.3M
$80.0K
$140.0M
Interest expense, net
$438.7M
$454.8M
$219.7M
—
Income before income taxes
$3.0B
$264.2M
$2.1B
$2.3B
Income tax expense
$651.9M
$22.1M
$369.0M
$553.7M
Net income
$2.3B
$242.1M
$1.7B
$1.8B
Less: Net income (loss) attributable to noncontrolling interests
$286.4M
$11.5M
($688.0K)
$10.0M
Net income attributable to EQT Corporation
$2.0B
$230.6M
$1.7B
$1.8B
Weighted average common stock outstanding - Basic (in shares)
611.6M
509.6M
380.9M
370.0M
Net income attributable to EQT Corporation - Basic (in dollars per share)
$3.33
$0.45
$4.56
$4.79
Weighted average common stock outstanding - Diluted (in shares)
615.7M
514.6M
413.2M
406.5M
Net income attributable to EQT Corporation - Diluted (in dollars per share)
$3.31
$0.45
$4.22
$4.38
EQT Corp income statement, quarters
Line item
Jun 30, 2026 · Q2
Mar 31, 2026 · Q1
Sep 30, 2025 · Q3
Jun 30, 2025 · Q2
Sales of natural gas, natural gas liquids and oil
$1.6B
$3.4B
$1.7B
$1.7B
Gain (loss) on derivatives
$44.6M
($238.3M)
$135.8M
$720.0M
Pipeline and other
$155.3M
$177.1M
$145.2M
$137.3M
Total operating revenues
$1.8B
$3.4B
$2.0B
$2.6B
Transportation and processing
$385.0M
$400.3M
$377.1M
$389.1M
Production
$100.3M
$115.2M
$98.3M
$91.5M
Operating and maintenance
$60.2M
$54.9M
$60.3M
$54.0M
Selling, general and administrative
$106.4M
$95.8M
$98.7M
$81.6M
Depreciation, depletion and amortization
$689.6M
$654.8M
$688.4M
$623.5M
Loss on sale/exchange of long-lived assets
$3.6M
($25.0K)
($5.6M)
$3.0M
Impairment and expiration of leases
$6.2M
$3.8M
$3.5M
$3.3M
Other operating expenses
$64.5M
$17.6M
$34.3M
$176.5M
Total operating expenses
$1.4B
$1.3B
$1.4B
$1.4B
Operating income
$394.0M
$2.0B
$603.2M
$1.1B
Income from investments
($44.7M)
($77.5M)
($44.6M)
($67.2M)
Other income
($3.4M)
($118.0K)
($472.0K)
($2.6M)
Loss on debt extinguishment
$341.0K
$29.5M
$1.9M
$5.9M
Interest expense, net
$75.5M
$96.8M
$109.9M
$105.7M
Income before income taxes
$366.4M
$2.0B
$536.5M
$1.1B
Income tax expense
$84.9M
$433.4M
$129.3M
$235.6M
Net income
$281.4M
$1.6B
$407.2M
$856.7M
Less: Net income attributable to noncontrolling interests
$70.0M
$66.7M
$71.4M
$72.5M
Net income attributable to EQT Corporation
$211.4M
$1.5B
$335.9M
$784.1M
Weighted average common stock outstanding - Basic (in shares)
626.0M
625.1M
624.5M
599.2M
Net income (loss) attributable to EQT Corporation - Basic (in dollars per share)
$0.34
$2.38
$0.54
$1.31
Weighted average common stock outstanding - Diluted (in shares)
629.0M
629.2M
628.3M
602.9M
Net income (loss) attributable to EQT Corporation - Diluted (in dollars per share)
$0.34
$2.36
$0.53
$1.30
Balance sheet
EQT Corp balance sheet, fiscal years
Line item
Dec 31, 2025 · FY
Dec 31, 2024 · FY
Dec 31, 2023 · FY
Dec 31, 2022 · FY
Cash and cash equivalents
$110.8M
$202.1M
$81.0M
$1.5B
Accounts receivable (less allowance for credit losses: $3,088 and $12,529)
$1.5B
$1.1B
$823.7M
$1.6B
Derivative instruments, at fair value
$202.4M
$143.6M
$978.6M
$812.4M
Income tax receivable
$27.8M
$97.4M
$91.4M
—
Prepaid expenses and other
$96.3M
$139.0M
$38.3M
$135.3M
Total current assets
$1.9B
$1.7B
$2.0B
$4.0B
Property, plant and equipment
$48.5B
$44.5B
$33.8B
$27.4B
Less: Accumulated depreciation and depletion
$14.9B
$12.8B
$10.9B
$9.2B
Net property, plant and equipment
$33.6B
$31.7B
$23.0B
$18.2B
Investments in unconsolidated entities
$3.6B
$3.6B
—
—
Net intangible assets related to acquired transmission services agreements
$200.5M
—
—
—
Goodwill
$2.1B
$2.1B
—
—
Other assets
$446.4M
$455.6M
$322.0M
$488.2M
Total assets
$41.8B
$39.8B
$25.3B
$22.7B
Current portion of debt
$507.1M
$320.8M
$292.4M
$422.6M
Accounts payable
$1.4B
$1.2B
$1.3B
$1.6B
Derivative instruments, at fair value
$137.3M
$446.5M
$186.4M
$1.4B
Accrued interest
$137.5M
$167.2M
—
—
Other current liabilities
$335.5M
$349.4M
$285.5M
$341.5M
Total current liabilities
$2.5B
$2.5B
$2.0B
$3.7B
Revolving credit facility borrowings
$360.0M
$150.0M
—
—
Senior notes
$6.9B
$8.9B
$4.2B
$5.2B
Deferred income taxes
$3.5B
$2.9B
$1.9B
$1.4B
Asset retirement obligations and other liabilities
$1.2B
—
—
—
Total liabilities
$14.4B
$15.6B
$10.5B
$11.5B
Common stock, no par value, shares authorized: 1,280,000, shares issued: 624,076 and 596,870
19.5B
18.0B
12.1B
9.9B
Retained earnings
$4.2B
$2.6B
$2.7B
$1.3B
Accumulated other comprehensive loss
($2.2M)
($2.3M)
($2.7M)
($3.0M)
Total common shareholders' equity
$23.8B
$20.6B
$14.8B
$11.2B
Noncontrolling interest in consolidated subsidiaries
$3.6B
$3.7B
$7.6M
$40.9M
Total equity
$27.4B
$24.3B
$14.8B
$11.2B
Total liabilities and equity
$41.8B
$39.8B
$25.3B
$22.7B
EQT Corp balance sheet, quarters
Line item
Jun 30, 2026
Mar 31, 2026
Sep 30, 2025
Jun 30, 2025
Cash and cash equivalents
$112.9M
$326.6M
$235.7M
$555.5M
Accounts receivable (less allowance for credit losses: $3,844 and $3,088)
$835.1M
$953.3M
$803.9M
$817.4M
Derivative instruments, at fair value
$138.9M
$184.0M
$123.6M
$118.9M
Prepaid expenses and other
$90.9M
$92.8M
$103.8M
$139.5M
Total current assets
$1.2B
$1.6B
$1.3B
$1.6B
Property, plant and equipment
$49.7B
$49.1B
$47.9B
$45.3B
Less: Accumulated depreciation and depletion
$16.2B
$15.5B
$14.3B
$13.6B
Net property, plant and equipment
$33.6B
$33.5B
$33.6B
$31.6B
Investments in unconsolidated entities
$3.9B
$3.9B
$3.6B
$3.6B
Net intangible assets
$193.1M
$196.8M
$204.2M
$207.9M
Goodwill
$2.1B
$2.1B
$2.1B
$2.1B
Other assets
$388.4M
$432.1M
$451.1M
$517.7M
Total assets
$41.3B
$41.7B
$41.2B
$39.7B
Current portion of debt
$115.0M
$507.5M
$506.7M
$391.8M
Accounts payable
$1.2B
$1.4B
$1.1B
$1.2B
Derivative instruments, at fair value
$50.1M
$64.2M
$189.6M
$194.8M
Accrued interest
$103.8M
$87.6M
$135.3M
$143.0M
Other current liabilities
$314.5M
$291.6M
$239.8M
$425.1M
Total current liabilities
$1.8B
$2.4B
$2.2B
$2.3B
Revolving credit facility borrowings
$324.0M
$271.0M
$278.0M
$282.0M
Senior notes
$5.2B
$5.2B
$7.4B
$7.6B
Deferred income taxes
$4.0B
$3.9B
$3.3B
$3.1B
Asset retirement obligations and other liabilities
$1.2B
$1.2B
$1.2B
$1.2B
Total liabilities
$12.5B
$12.9B
$14.4B
$14.6B
Common stock, no par value, shares authorized: 1,280,000, shares issued: 625,513 and 624,076
19.5B
19.5B
19.5B
18.0B
Retained earnings
$5.7B
$5.6B
$3.7B
$3.4B
Accumulated other comprehensive loss
($1.8M)
($1.9M)
($2.2M)
($2.2M)
Total common shareholders' equity
$25.3B
$25.1B
$23.2B
$21.4B
Noncontrolling interests in consolidated subsidiaries
$3.6B
$3.7B
$3.6B
$3.7B
Total equity
$28.9B
$28.8B
$26.8B
$25.1B
Total liabilities and equity
$41.3B
$41.7B
$41.2B
$39.7B
Cash flow statement
EQT Corp cash flow statement, fiscal years
Line item
Dec 31, 2025 · FY
Dec 31, 2024 · FY
Dec 31, 2023 · FY
Dec 31, 2022 · FY
Net income
$2.3B
$242.1M
$1.7B
$1.8B
Deferred income tax expense
$657.8M
$14.7M
$384.7M
—
Depreciation, depletion and amortization
$2.6B
$2.2B
$1.7B
—
(Gain) loss on sale/exchange of long-lived assets
($31.2M)
($764.0M)
—
—
Impairments
$51.2M
$97.4M
$126.9M
$382.4M
Income from investments
($184.4M)
($76.0M)
($7.6M)
$4.9M
Loss on debt extinguishment
$22.7M
$68.3M
$80.0K
$140.0M
Share-based compensation expense
$60.8M
$158.3M
$49.8M
$45.2M
Distributions from equity method investments
$257.2M
$66.2M
$18.7M
$50.2M
Other
$15.1M
$15.1M
$16.9M
$32.6M
Gain on derivatives
($291.0M)
($51.1M)
($1.8B)
—
Net cash settlements (paid) received on derivatives
($83.4M)
$1.2B
$900.6M
—
Net premiums paid on derivatives
($44.8M)
($42.4M)
($322.7M)
$14.2M
Accounts receivable
($353.5M)
($220.4M)
$867.7M
($169.0M)
Accounts payable
$207.1M
$16.5M
($406.1M)
$181.5M
Income tax receivable and payable
$73.0M
—
—
$0
Other current assets
$45.2M
($85.3M)
$93.8M
$48.6M
Other items, net
($201.9M)
$7.4M
($171.7M)
$38.2M
Net cash provided by operating activities
$5.1B
$2.8B
$3.2B
$3.5B
Capital expenditures
($2.3B)
($2.3B)
($2.0B)
($1.4B)
Cash paid for acquisitions, net of cash acquired
($483.5M)
($874.3M)
($2.3B)
—
Net cash received for sale/exchange of assets
$10.2M
—
—
—
Capital contributions to equity method investments
($82.9M)
($148.0M)
—
—
Other investing activities
($245.0K)
($80.0K)
($26.9M)
($13.8M)
Net cash used in investing activities
($2.8B)
($1.6B)
($4.3B)
($1.4B)
Proceeds from revolving credit facility borrowings
$3.5B
$6.9B
$1.0B
$10.2B
Repayment of revolving credit facility borrowings
($3.6B)
($7.5B)
($1.0B)
($10.2B)
Proceeds from issuance of debt
$0
$750.0M
$1.3B
$1.0B
Proceeds from net settlement of Capped Call Transactions (Note 7)
$0
$93.3M
—
—
Debt issuance costs
($9.6M)
($18.9M)
($5.3M)
($26.5M)
Repayment and retirement of debt
($1.4B)
($4.3B)
($1.0B)
($917.0M)
Net (premiums paid) discounts received on debt extinguishment
($39.3M)
($52.4M)
$5.2M
—
Dividends paid
($389.6M)
($326.6M)
($228.3M)
($203.6M)
Repurchase and retirement of common stock
$0
$0
($201.0M)
($409.5M)
Net proceeds from the sale of units of the Midstream Joint Venture (Note 9)
($1.1M)
—
—
—
Net distributions to noncontrolling interest
($359.7M)
—
—
($11.6M)
Cash paid for taxes to net settle share-based incentive awards
($54.2M)
($102.9M)
—
—
Other financing activities
($6.3M)
$889.0K
($40.2M)
($10.6M)
Net cash used in financing activities
($2.4B)
($1.1B)
($242.9M)
($699.1M)
Net change in cash and cash equivalents
($91.3M)
$121.1M
($1.4B)
$1.3B
Cash and cash equivalents at beginning of year
$202.1M
$81.0M
$1.5B
$114.0M
Cash and cash equivalents at end of year
$110.8M
$202.1M
$81.0M
$1.5B
EQT Corp cash flow statement, quarters
Line item
Jun 30, 2026 · YTD
Mar 31, 2026 · Q1
Sep 30, 2025 · YTD
Jun 30, 2025 · YTD
Net income
$1.8B
$1.6B
$1.6B
$1.2B
Deferred income tax expense
$491.6M
$410.4M
$446.7M
$304.9M
Depreciation, depletion and amortization
$1.3B
$654.8M
$1.9B
$1.2B
Loss on sale/exchange of long-lived assets
$3.6M
($25.0K)
($2.4M)
$3.2M
Impairment and expiration of leases
$10.1M
$3.8M
—
—
Income from investments
($122.2M)
($77.5M)
($138.3M)
($93.6M)
Loss on debt extinguishment
$29.9M
$29.5M
$19.5M
$17.6M
Share-based compensation expense
$42.4M
$18.6M
$43.8M
$28.5M
Distributions from equity method investments
$121.3M
$47.0M
$202.6M
$132.9M
Other
$10.5M
$5.6M
$7.8M
$3.4M
Loss (gain) on derivatives
$193.6M
$238.3M
($176.8M)
($41.0M)
Net cash settlements paid on derivatives
($231.0M)
($303.7M)
($118.4M)
($193.3M)
Accounts receivable
$629.7M
$507.0M
$296.3M
$295.7M
Accounts payable
($209.7M)
$39.7M
($4.5M)
$10.3M
Income tax receivable and payable
$25.3M
—
$97.4M
$97.4M
Other current assets
$8.6M
$22.9M
$42.7M
($1.5M)
Other items, net
($80.3M)
($95.3M)
($237.2M)
($3.7M)
Net cash provided by operating activities
$4.1B
$3.1B
$4.0B
$3.0B
Capital expenditures
($1.2B)
($598.5M)
($1.7B)
($1.0B)
Cash paid for acquisitions
$0
$0
($484.8M)
($100.2M)
Net cash received (paid) for sale/exchange of assets
$91.0K
$104.0K
($8.6M)
($6.3M)
Cash paid for acquisitions of additional interests in equity method investments
($216.2M)
($215.2M)
—
—
Capital contributions to equity method investments
($56.5M)
($27.9M)
($44.4M)
($42.0M)
Other investing activities
($2.2M)
($1.0M)
($10.4M)
($245.0K)
Net cash used in investing activities
($1.5B)
($842.4M)
($2.2B)
($1.2B)
Proceeds from revolving credit facility borrowings
$2.5B
$950.0M
$3.0B
$2.2B
Repayment of revolving credit facility borrowings
($2.5B)
($1.0B)
($3.2B)
($2.4B)
Debt issuance costs
$0
—
($9.6M)
($7.2M)
Repayment and retirement of debt
($2.1B)
($1.7B)
($905.7M)
($813.0M)
Net premiums paid on debt extinguishment
($22.6M)
($21.3M)
($29.5M)
($24.8M)
Dividends paid
($206.3M)
($103.1M)
($286.7M)
($188.4M)
Contribution from noncontrolling interests
$98.4M
$98.4M
—
—
Distributions to noncontrolling interests
($238.0M)
($104.2M)
($259.2M)
($152.0M)
Cash paid for taxes to net settle share-based incentive awards