EQT: Q2 Natural Gas Weakness Clouds Near-Term Upside
EQT Corporation is facing challenges in the second quarter due to weaker natural gas prices, which may lead to a revenue miss compared to consensus estimates. Despite a strong first quarter with record free cash flow, the company's balance sheet is improving with reduced net debt. Currently, EQT is rated as a Hold, reflecting its fair valuation and limited near-term upside.
- ▪EQT Corporation is a leading natural gas producer with a breakeven price of $2/MMBtu.
- ▪The company reported record free cash flow in Q1 but anticipates softer pricing in Q2.
- ▪EQT's net debt stands at $5.7 billion, and it has received investment-grade ratings.
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