EQT (EQT) Revenue — Quarter Ended Sep 30, 2024
Total operating revenues increased in the current quarter compared to both the immediate prior quarter and the same quarter one year earlier. The sequential growth was driven by higher sales of natural gas, natural gas liquids and oil as well as increased pipeline, net marketing services and other revenue.
Key takeaway
Quarter ended Sep 30, 2024 · FY2024 Q3
Total operating revenues increased in the current quarter compared to both the immediate prior quarter and the same quarter one year earlier. The sequential growth was driven by higher sales of natural gas, natural gas liquids and oil as well as increased pipeline, net marketing services and other revenue.
Financial snapshot
Reported revenue, sequential change, year-over-year change, and trailing four-quarter revenue.
Quarter revenue
$1.3B
Revenue reported for this quarter.
Quarter-over-quarter
+34.8%
Change from the immediately preceding quarter.
Year-over-year
+8.2%
Change from the comparable year-ago quarter.
Trailing four quarters
$5.7B
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 |
|---|---|---|
| Dec 31, 2023 | $2B | +199.7% |
| Mar 31, 2024 | $1.4B | -22.8% |
| Jun 30, 2024 | $952.5M | +12.3% |
| Sep 30, 2024 | $1.3B | +8.2% |
Revenue performance
The reported revenue direction is upward for the quarter, with the total operating revenue rising from the preceding quarter. Compared to the same quarter one year ago, total operating revenue also increased.
Quarterly comparison
Revenues in the current quarter exceeded both the immediately preceding quarter and the same quarter one year earlier. The sequential comparison reflects a reversal from the prior quarter's decline, while the year-over-year comparison shows growth after a prior year decline in the same period.
What to watch
Operating expenses increased in the current quarter compared to the prior quarter and the same quarter last year, with notable rises in production and selling, general and administrative costs.