Filing Flows › Energy › EQT (EQT)
EQT (EQT) earnings and revenue breakdown
Latest: Q3 2026 · 10-Q filed Oct 28, 2026 · EQT (EQT) Q3 2026 earnings results →
Q3 2026 Revenue down 10% year over year to $1.8B · 16¢ of every $1 of revenue kept as net profit · operating margin 26.0%
EQT made $1.8B in Q3 2026 (-10% Y/Y). Operating margin 26.0%, net earnings $279M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Oct 28, 2026.
Drawing the Sankey…
Open the interactive Sankey → click any line for what the company wrote about it, compare Y/Y and Q/Q, export as PNG or PDF
What changed this quarter
Revenue was $1.8B in Q3 2026, down 10% year over year and down 2% from the previous quarter.
Operating profit was $0.46B, a 26.0% margin (down 4.8 points year over year). Total costs fell 3% while revenue fell 10%. The fastest-growing cost line was SG&A (+18%). Net earnings were $0.28B, down 17% year over year. The effective tax rate was 20.1%.
Operating cash flow was $1.1B (up 6% year over year), 314% of net income including minority interests. Non-cash charges added back $0.64B of depreciation and amortization and $0.03B of share-based compensation. Working capital and other items added $0.07B. Capital expenditures of $0.65B left free cash flow of $0.44B.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q3 2026 | 10-Q | Oct 28, 2026 | $1.8B | -10% | 26.0% | $279M | $1.1B |
| Q2 2026 | 10-Q | Jul 22, 2026 | $1.8B | -29% | 21.8% | $211M | $1.0B |
| Q1 2026 | 10-Q | Apr 22, 2026 | $3.4B | +94% | 60.3% | $1.5B | $3.1B |
| Q4 2025 | 10-K | Feb 18, 2026 | $2.4B | +47% | 42.5% | $677M | $1.1B |
| Q3 2025 | 10-Q | Oct 22, 2025 | $2.0B | +53% | 30.8% | $336M | $1.0B |
| Q2 2025 | 10-Q | Jul 23, 2025 | $2.6B | +168% | 44.3% | $784M | $1.2B |
| Q1 2025 | 10-Q | Apr 23, 2025 | $1.7B | +23% | 28.5% | $242M | $1.7B |
Charts
Interactive views
The same charts as the app — open one to draw it.
💵Where each $1 goesinteractive
Loading the interactive chart…
🌏Named in Asian annual reportsinteractive
Loading the interactive chart…
🔄Rotation against the market and its industry (RRG)interactive
Loading the interactive chart…
🔍Earnings qualityinteractive
Loading the interactive chart…
⚖️Fair value by methodinteractive
Loading the interactive chart…
🔭Outlook & guidanceinteractive
Loading the interactive chart…
📈Investments: gains and what it boughtinteractive
Loading the interactive chart…
🏭Its industry’s money flow (input-output)interactive
Loading the interactive chart…
About EQT
We are a vertically integrated natural gas company with upstream, gathering and transmission operations focused in the Appalachian Basin. As of December 31, 2025, we had 28.0 Tcfe of proved natural gas, NGLs and oil reserves across approximately 2.3 million gross acres and approximately 2,945 miles of pipeline infrastructure. In addition, we own an investment in Series A of Mountain Valley Pipeline, LLC (MVP A), which owns the Mountain Valley Pipeline (MVP Mainline), a 303-mile-long pipeline that spans from Wetzel County, West Virginia to Pittsylvania County, Virginia.
In its own words, from its 10-K, filed Feb 18, 2026.
EQT against its Crude Petroleum & Natural Gas peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: -10% against the peers' median +46%. Operating margin: 26.0% against the peers' median 26.0%.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| EQT EQT | Q3 2026 | $1.8B | -10% | 26.0% |
| EOG EOG Resources | Q3 2026 | $8.5B | +46% | 41.9% |
| OXY Occidental Petroleum | Q2 2026 | $8.1B | +53% | 48.5% |
| DVN Devon Energy | Q3 2026 | $6.9B | +58% | 18.3% |
| FANG Diamondback Energy | Q3 2026 | $5.4B | +38% | 46.0% |
| EXE Expand Energy | Q3 2026 | $3.3B | +11% | 19.5% |
| PARR PAR Pacific Holdings | Q3 2026 | $3.1B | +52% | 15.5% |
| OVV Ovintiv | Q3 2026 | $2.6B | +26% | 33.7% |
| SM SM Energy | Q3 2026 | $2.2B | +167% | 10.9% |
Source: EQT 10-Q on SEC EDGAR · CIK 33213 · Crude Petroleum & Natural Gas
13F: who owns EQT and who is buying
More on EQT
History
Every quarter: Q3 2026 results · Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results