EQT Revenue Soars 94% to $3.38B as Permian Gas Hits -$9.60
EQT Corporation reported Q1 revenue surged 94.2% year-over-year to $3.38 billion, driven by premium price realizations, strategic hedging and robust production. Permian Basin gas prices plunged to an all-time low of -$9.60 per MMBtu on April 24, while net debt/EBITDA remained at a conservative 0.7x.
1. Q1 Financial Performance
EQT reported Q1 revenue of $3.38 billion, a 94.2% year-over-year increase driven by premium price realizations, strategic hedging and robust production volumes from its core assets.
2. Permian Gas Price Dynamics
Record output in the Permian Basin coincided with pipeline capacity constraints, driving regional natural gas prices down to -$9.60 per million British thermal units on April 24, the lowest level on record.
3. Balance Sheet Strength
The company maintained net debt to EBITDA at just 0.7x, reflecting prudent leverage management that underpins operational resilience and supports sustainable dividend payments.
4. Strategic Positioning
EQT’s operational scale and efficiency keep US gas prices at record lows, bolstering its competitive edge in domestic feedstock markets and positioning the company for export growth as global prices remain substantially higher.