EQT (EQT) Revenue — Quarter Ended Jun 30, 2023
Revenue for the quarter decreased compared to both the immediately preceding quarter and the same quarter one year earlier. The decline was driven by a sharp reduction in sales of natural gas, natural gas liquids and oil.
Key takeaway
Quarter ended Jun 30, 2023 · FY2023 Q2
Revenue for the quarter decreased compared to both the immediately preceding quarter and the same quarter one year earlier. The decline was driven by a sharp reduction in sales of natural gas, natural gas liquids and oil.
Financial snapshot
Reported revenue, sequential change, year-over-year change, and trailing four-quarter revenue.
Quarter revenue
$848.3M
Revenue reported for this quarter.
Quarter-over-quarter
-53.7%
Change from the immediately preceding quarter.
Year-over-year
-74.8%
Change from the comparable year-ago quarter.
Trailing four quarters
$4.3B
Sum of the latest four reported quarters.
Quarterly revenue trend
The latest four reported quarters with year-over-year comparisons.
| Period ended | Revenue | Year-over-year change |
|---|---|---|
| Sep 30, 2022 | $3.7B | +107.1% |
| Dec 31, 2022 | -$2B | -172.9% |
| Mar 31, 2023 | $1.8B | -26.4% |
| Jun 30, 2023 | $848.3M | -74.8% |
Revenue performance
Revenue in the current quarter was substantially lower than the prior quarter, continuing a downward trend observed over the recent periods.
Quarterly comparison
Compared to the immediately preceding quarter, revenue fell significantly, and compared to the same quarter one year ago, the decline was even more pronounced.
What to watch
The quarter included a notable gain on derivatives, which partially offset the decline in natural gas sales revenue.