EQT Corporation Reports Strong First Quarter Performance Amid Market Challenges

PITTSBURGH, Pennsylvania, April 22, 2025 /PRNewswire/ — EQT Corporation (NYSE: EQT) announced significant financial results for the first quarter of 2025, showcasing remarkable performance despite ongoing market challenges. CEO Toby Z. Rice stated that the company experienced the strongest financial results in its recent history during this period.

The first quarter generated over $1 billion in free cash flow, reflecting effective coordination across its midstream and upstream operations. “We are raising our 2025 production guidance by 25 billion cubic feet equivalent (Bcfe) while simultaneously decreasing our capital spending by $25 million,” Rice noted.

EQT’s total sales volume reached 571 Bcfe, with an impressive net income of $315 million. The average realized price increased from $3.22 in 2024 to $3.77 per thousand cubic feet (Mcf) in 2025. This growth highlights the company’s successful response to peak winter prices and decreased capital expenditure.

The company recently finalized an acquisition of Olympus Energy’s upstream and midstream assets for $1.8 billion, which Rice said aligns well with EQT’s objectives and offers potential strategic advantages.

Looking forward, EQT expects to turn-in-line between 95 to 120 net wells throughout 2025, including 32 to 50 in the second quarter. The company projects a second-quarter sales volume between 520 to 570 Bcfe, and despite facing softness in demand, believes it will maintain solid profitability for the year.

As of March 31, the company held $2.5 billion in unrestricted cash, demonstrating robust liquidity and financial resilience amid fluctuating market conditions. The firm’s effective strategies in production optimization and cost management have positioned it favorably for the rest of 2025 and beyond.