Filing Flows › EQT (EQT) › Q2 2026 › vs Q2 2025
EQT (EQT) Q2 2026 vs Q2 2025 (year over year)
EQT's revenue fell $748M (-29%) from $2.6B in Q2 2025 to $1.8B in Q2 2026. Operating margin 21.8% against 44.3% (-22.6 pts).
EQT, Q2 2026: revenue $1.8B (-29% year over year), operating margin 21.8%, net earnings $211M, operating cash flow $1.0B. The chart draws each line against Q2 2025, the increases inside each band.
Margins
| Q2 2026 | Q2 2025 | Change | |
|---|---|---|---|
| Operating margin | 21.8% | 44.3% | -22.6 pts |
| Net margin | 11.7% | 30.7% | -19.0 pts |
| Free cash flow margin | 22.0% | 27.1% | -5.1 pts |
Every line
| Line | Q2 2026 | Q2 2025 | Change | % |
|---|---|---|---|---|
| Revenue | $1.8B | $2.6B | −$748M | -29% |
| Operating profit | $394M | $1.1B | −$740M | -65% |
| Costs & expenses | $1.4B | $1.4B | −$7.8M | -0.5% |
| Pre-tax earnings | $366M | $1.1B | −$726M | -66% |
| Other expense, net | $27.7M | $41.8M | −$14.1M | -34% |
| Cost of revenue | $385M | $389M | −$4.1M | -1% |
| SG&A | $106M | $81.6M | $24.9M | +30% |
| Other operating costs | $924M | $953M | −$28.5M | -3% |
| Net earnings | $211M | $784M | −$573M | -73% |
| Minority interests | $70.0M | $72.5M | −$2.5M | -3% |
| Income tax | $84.9M | $236M | −$151M | -64% |
| Depreciation & amortization | $690M | $623M | $66.1M | +11% |
| Share-based compensation | $23.8M | $13.8M | $10.0M | +73% |
| Working capital & other | $123M | −$180M | $303M | — |
| Operating cash flow | $1.0B | $1.2B | −$194M | -16% |
| Free cash flow (OCF − capex) | $398M | $692M | −$294M | -43% |
| Capital expenditures | $650M | $550M | $101M | +18% |
Questions
How much did EQT's revenue grow year over year in Q2 2026?
EQT's revenue fell $748M (-29%) from $2.6B in Q2 2025 to $1.8B in Q2 2026. Operating margin 21.8% against 44.3% (-22.6 pts).