Filing Flows › EQT (EQT) › Q1 2026
EQT (EQT) Q1 2026 earnings results (first quarter 2026)
10-Q filed Apr 22, 2026
EQT (EQT) reported revenue of $3.4B for the first quarter 2026 (Q1 2026), +94% from a year earlier and +41% from the quarter before. Operating margin was 60.3%, net earnings $1.5B (44.0% of revenue).
EQT, Q1 2026: revenue $3.4B (+94% year over year), operating margin 60.3%, net earnings $1.5B, operating cash flow $3.1B. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $3.4B | +41% | +94% |
| Operating profit | $2.0B | +100% | +310% |
| Net earnings | $1.5B | +120% | +514% |
| Operating cash flow | $3.1B | +171% | +75% |
| Free cash flow | $2.5B | +379% | +98% |
What changed
Revenue was $3.4B in Q1 2026, up 94% year over year and up 41% from the previous quarter.
Operating profit was $2.0B, a 60.3% margin (up 31.7 points year over year). Of the extra revenue versus Q1 2025, 94% reached operating profit, above the 29% margin then. Total costs grew 8% against revenue growth of 94%. Net earnings were $1.5B, up 514% year over year. The effective tax rate was 21.8%.
Operating cash flow was $3.1B (up 75% year over year), 197% of net income including minority interests. Non-cash charges added back $0.65B of depreciation and amortization and $0.02B of share-based compensation. Working capital and other items added $0.83B. Capital expenditures of $0.60B left free cash flow of $2.5B.
Questions
What was EQT's revenue in the first quarter 2026?
EQT (EQT) reported revenue of $3.4B for the first quarter 2026 (Q1 2026), +94% from a year earlier and +41% from the quarter before.
Was EQT profitable in the first quarter 2026?
Operating profit was $2.0B (60.3% of revenue) and net earnings $1.5B.
Source: EQT 10-Q on SEC EDGAR.