Income Statement
Quarterly Data
The income statement presents information on the financial results of a company business activities over a period of time. The income statement communicates how much revenue the company generated during a period and what cost it incurred in connection with generating that revenue.
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- Common-Size Income Statement
- Analysis of Profitability Ratios
- Analysis of Liquidity Ratios
- Analysis of Long-term (Investment) Activity Ratios
- Enterprise Value to FCFF (EV/FCFF)
- Present Value of Free Cash Flow to Equity (FCFE)
- Current Ratio since 2005
- Price to Earnings (P/E) since 2005
- Price to Sales (P/S) since 2005
- Analysis of Debt
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EQT Corp., consolidated income statement (quarterly data)
US$ in thousands
Based on: 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31).
- Sales of natural gas, natural gas liquids and oil
- The sales exhibited fluctuations with a notable low during 2020 Q2 and Q3, followed by a significant upward trend starting in 2021 Q3, peaking in 2022 Q4. This indicates increased volume or pricing in recent quarters.
- Gain (loss) on derivatives
- The gain or loss on derivatives demonstrated considerable volatility, with large losses in late 2018 and mid-2021, contrasted by substantial gains scattered throughout other quarters. The pattern reflects high sensitivity to market conditions and hedging activities.
- Net marketing services and other
- Net marketing services showed generally positive values with modest variation, peaking modestly during 2021 but declining in late 2022. The item remains a small but consistent contributor to revenues.
- Operating revenues
- Operating revenues followed the pattern of sales but with broader volatility, hitting lows in mid-2020 and early 2021, then rebounding strongly in late 2021 and into 2022. The data indicates recovery and growth after a downturn linked to market conditions around 2020.
- Transportation and processing
- These expenses remained relatively stable but showed a gradual increase in absolute terms over the periods, suggesting rising costs or expanded activities in transportation and processing operations.
- Production
- Production costs fluctuated mildly but generally increased towards 2021 and 2022, which may be linked to higher activity or inflationary pressures on production inputs.
- Exploration
- Exploration expenses were low and irregular, showing spikes in some quarters but no consistent trend. This may reflect targeted project investments or write-offs.
- Selling, general and administrative (SG&A)
- SG&A costs showed a spike in late 2018 with subsequent declines, followed by moderate fluctuations through 2022. Despite some rises, they remained relatively stable when compared to other expenses.
- Depreciation and depletion
- Depreciation and depletion expenses were consistently high and gradually increased until 2021, then slightly decreased during 2022, reflecting asset base changes or revised depreciation schedules.
- Amortization of intangible assets
- Amortization expenses declined notably from 2019 onwards, with some quarters missing data, suggesting changes in intangible asset bases or accounting adjustments.
- Gain (loss) on sale/exchange of long-lived assets
- Significant losses were evident in 2018 and some quarters of 2019, but subsequent periods showed smaller gains and losses, indicating reduced asset sales or improved asset management.
- Impairments
- Major impairments included goodwill impairment in late 2018 and various other impairments in selected quarters, notably in late 2021 and 2022. These charges imply asset value declines or restructuring effects.
- Impairment and expiration of leases
- Large lease impairments occurred especially in late 2018, late 2019, and throughout 2021, indicating adjustments to lease agreements or asset writedowns in response to market or strategic shifts.
- Other operating expenses
- Other operating expenses varied widely, with some large charges in 2019 and modest values in other periods, showing episodic costs possibly related to specific projects or operational issues.
- Operating expenses (total)
- Total operating expenses showed a peak in late 2019, followed by a decline in 2020 and some recovery in later years, indicating cost variability linked to operational scale and market conditions.
- Operating income (loss)
- Operating income fluctuated dramatically, with losses dominating early and late 2018 and 2019, a stark loss in 2021 Q3, and a strong positive swing in late 2021 through 2022, reflecting volatile profitability influenced by revenues and costs.
- Gain on Equitrans Share Exchange
- A one-time gain was noted in late 2019, representing a significant capital transaction.
- Income (loss) from investments
- Investment income was inconsistent, alternating between losses and gains without a clear pattern, reflecting market variability in investment performance.
- Dividend and other income (expense)
- This item remained mostly positive and relatively stable, supporting other income streams.
- Loss on debt extinguishment
- Losses related to debt extinguishment appeared sporadically, with a notable spike in early 2022, highlighting refinancing or debt restructuring costs.
- Interest expense
- Interest expenses remained fairly stable with a slight upward trend toward late 2020 and early 2021, followed by decreases in 2022, consistent with possible debt management efforts.
- Income (loss) from continuing operations before income taxes
- This measure showed high volatility with losses prominent during 2018, 2019, and late 2020, turning positive in mid-2019, late 2021, and throughout 2022, closely mirroring operating income trends.
- Income tax (expense) benefit
- Income tax expenses swung between large benefits and charges, aligning with the company's profitability fluctuations and reflecting varied taxable income or deferred tax effects.
- Income (loss) from continuing operations
- After tax, income from continuing operations followed the pre-tax pattern but was mitigated by tax impacts, showing significant losses in early periods improving to consistent positive results by 2022.
- Income from discontinued operations, net of tax
- Reported only in early periods, this item shows gains that ceased after 2018, indicating disposal of certain business segments.
- Net income (loss)
- Net income exhibited wide swings with large losses in early periods, recovering to profits in 2019 mid-year, declining again through 2020 and early 2021, followed by a substantial rebound and profitability in 2022.
- Net (income) loss attributable to noncontrolling interests
- Amounts attributed to noncontrolling interests were relatively minor and consistent, indicating stable minority interest activities.
- Net income (loss) attributable to the company
- The net income attributable to the company reflected the overall pattern of wide fluctuations, moving from significant losses to profitable quarters in 2022 consistent with operational recovery and market improvements.