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EQT Corp First Quarter 2016 Results; Ups Production Sales 24%
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EQT Corporation has reported its first quarter 2016 results.
Key Points: Production sales volume was 24% higher Midstream gathering revenue was 6% higher Midstream transmission revenue was 10% higher Realized natural gas price was 35% lower Cash balance was $1.6 billion (excluding EQM) $1.5 billion unsecured revolver is undrawnEQT announced first quarter 2016 net income attributable to EQT of $5.6 million, or $0.04 per diluted share (EPS), compared to earnings of $173.4 million, or $1.14 per diluted share for the first quarter of 2015. Adjusted net income was $10.5 million in the first quarter 2016, $153.0 million lower than the first quarter 2015; and adjusted EPS was $0.07, down from $1.07. Adjusted operating cash flow attributable to EQT was $218.6 million, $156.0 million lower than…
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