Why EQT Stock Bumped Higher Today
A strong beat on the profitability front was the news pushing EQT's (NYSE: EQT) stock upward on Wednesday. That was the highlight of the natural gas producer's fourth-quarter report, and it helped its stock land in positive territory with a nearly 1% gain on the day. That topped the S&P 500 index's 0.2% increase.EQT unveiled its fourth-quarter and full-year results after the closing bell Tuesday. The company's revenue for the quarter was $1.62 billion, a 20% year-over-year drop. GAAP net income also dropped by 17% to land at $418 million. The result was a mixed quarter for the natural gas producer. On average, analysts tracking the stock had been modeling for $1.8 billion in revenue, but only $0.50 per share for net income. Instead, it booked net income of $0.69 per diluted share.Continue reading
A strong beat on the profitability front was the news pushing EQT's (NYSE: EQT) stock upward on Wednesday. That was the highlight of the natural gas producer's fourth-quarter report, and it helped its stock land in positive territory with a nearly 1% gain on the day. That topped the S&P 500 index's 0.2% increase.
EQT unveiled its fourth-quarter and full-year results after the closing bell Tuesday. The company's revenue for the quarter was $1.62 billion, a 20% year-over-year drop. GAAP net income also dropped by 17% to land at $418 million.
The result was a mixed quarter for the natural gas producer. On average, analysts tracking the stock had been modeling for $1.8 billion in revenue, but only $0.50 per share for net income. Instead, it booked net income of $0.69 per diluted share.
