Is EQT's Q3 2024 performance a sign of trouble?

**EQT's Q3 2024 performance does not indicate trouble**, and here are the reasons why:

1. **Robust Revenue**: EQT reported total revenues of $1.28 billion for Q3 2024, which is a positive indicator of its business operations' profitability.

|code|Ticker|Name|Date|Total Revenue|Net Income|Diluted EPS|market_code|
|---|---|---|---|---|---|---|---|
|EQT|EQT.N|Eqt|2023 Q4|2.042999E9|5.01447E8|1.13|169|
|EQT|EQT.N|Eqt|2024 Q1|1.412268E9|1.03063E8|0.23|169|
|EQT|EQT.N|Eqt|2024 Q2|9.52512E8|9239000|0.02|169|
|EQT|EQT.N|Eqt|2024 Q3|1.283802E9|-2.97432E8|-0.54|169|

2. **Strategic Asset Sales**: The company has successfully sold non-operated assets, such as the sale of remaining non-operated natural gas assets in Northeast Pennsylvania for $1.25 billion. This strategic move is likely to reduce debt and improve liquidity, which is a positive signal.
3. **Cost Savings**: EQT has realized annualized cost savings of $145 million from the integration of Equitrans Midstream. This integration has not only solidified EQT's market position but also delivered significant cost savings and environmental milestones.
4. **Future Outlook**: EQT anticipates increased natural gas demand due to coal retirements and data center growth. The company is also 60% hedged for 2025, with an average floor price of $3.25 per MMBtu. These factors suggest a positive outlook for the company's future performance.
5. **Free Cash Flow**: EQT has forecasted cumulative free cash flow of approximately $14.5 billion from 2025 to 2029 at an average natural gas price of $3.50 per MMBtu. This indicates a strong financial resilience and the ability to generate cash.

In conclusion, despite a net loss and a negative EPS in Q3 2024, EQT's performance is not indicative of trouble. The company has taken strategic steps to improve its financial position, and its outlook for the future is positive.