EQT Corporation (NYSE:EQT) released its third-quarter 2026 financial and operational results on October 27, 2026, reporting net income attributable to EQT of $279 million alongside the announcement of a strategic acquisition of Range Resources Corporation.

Key Highlights

  • Production: Total sales volume of 583 Bcfe for Q3 2026, inclusive of 21 Bcfe of strategic curtailments, compared to 634 Bcfe in Q3 2025.
  • Capital Expenditures: $638 million, described in the filing as 10% below the low-end of guidance, driven by lower-than-expected upstream and midstream spending.
  • Free Cash Flow: Net cash provided by operating activities of $1,083 million; free cash flow attributable to EQT of $283 million, a non-GAAP measure per the filing.
  • Balance Sheet: Total debt of $5.6 billion and net debt of just under $5.5 billion as of September 30, 2026, down from $7.8 billion and $7.7 billion, respectively, as of December 31, 2025.
  • Range Acquisition: Announced strategic acquisition of Range Resources Corporation, which the filing states will create "America's largest and only vertically integrated natural gas producer."
  • Dividend: Increased dividend by 3% to $0.68 per share annualized, representing a compounded annual dividend growth rate of approximately 7% since 2022 according to the filing.
  • LNG Contract: Signed a 10-year LNG sales agreement with Ignitis Group, described as the largest supplier of electricity and natural gas in Lithuania.

EQT Reports Q3 2026 Results as Range Resources Acquisition and Pipeline Expansion Take Shape

According to the filing, EQT Corporation reported total sales volume of 583 Bcfe for the three months ended September 30, 2026, compared to 634 Bcfe for the same period in 2025. The average realized price was $2.72 per Mcfe versus $2.76 per Mcfe in Q3 2025. Net income attributable to EQT was $279 million, down from $336 million year-over-year, while diluted earnings per share came in at $0.44 compared to $0.53 in the prior-year quarter. Adjusted EBITDA attributable to EQT, a non-GAAP measure, was $1,021 million versus $1,200 million in Q3 2025.

The company disclosed total per unit operating costs of $1.09 per Mcfe for Q3 2026, at the low end of guidance per the filing. Gathering expense per Mcfe rose compared to Q3 2025 due primarily to higher volumes gathered by third parties from wells turned-in-line in Q1 2026, while SG&A expense increased due primarily to higher long-term incentive compensation and professional service costs, according to the filing. As of September 30, 2026, EQT reported approximately $3.5 billion in total liquidity, excluding available capacity under Eureka Midstream's revolving credit facility, with $63 million of borrowings outstanding under its $3.5 billion revolving credit facility.

Beyond quarterly results, the filing highlighted several strategic developments. EQT launched an open season for a new 42-inch POWER Pipeline connecting its core Marcellus assets in Pennsylvania to the Clarington hub in Ohio, and contracted for 7 Bcf of storage capacity at Leaf River Energy Center's salt dome expansion project along the Gulf Coast, bringing total Gulf Coast storage capacity up to 11 Bcf. For Q4 2026, the company expects total sales volume of 550 to 600 Bcfe and maintenance capital expenditures of $540 to $610 million, according to the filing.

What Was Disclosed

EQT Corporation filed its Q3 2026 results disclosing quarterly net income attributable to EQT of $279 million, free cash flow attributable to EQT of $283 million, a 3% dividend increase to $0.68 per share annualized, the announced acquisition of Range Resources, and a new 10-year LNG sales agreement with Ignitis Group.