(Reuters) – US-based energy company EQT Corp has breached Wall Street estimates for second-quarter adjusted profits on Tuesday, benefiting from increased natural gas prices and volume sales, increasing stock by 1.2% in expanded trading.
According to the U.S. Energy Information Administration (EIA), the higher natural gas prices through 2025 than last year supports production levels.
The energy sector benefits from increased demand for natural gas, helping to increase power consumption through LNG exports and temperature and data center operations.
The average realised price of natural gas EQTs over the quarter increased 20.6% year-on-year to $2.81 per 1,000 cubic feet (MCFE).
Total sales were equivalent to 568,227 million cubic feet (MMCFE) compared to the previous year’s 507,512 MMCFE. 29DK2902L
The company reported that it surpassed its adjusted earnings of 45 cents per share in the quarter ended June 30th, according to data compiled by LSEG.
Reported by Poojamenon of Bengaluru. Edited by Devika Syamnath
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