The 10-second takeaway
For the quarter ended June 30 (Q2), EQT missed estimates on revenues and earnings per share.
Compared to the prior-year quarter, revenue dropped and GAAP earnings per share dropped significantly.
Margins shrank across the board.
EQT notched revenue of $298.1 million. The five analysts polled by S&P Capital IQ expected to see sales of $322.3 million on the same basis. GAAP reported sales were 3.2% lower than the prior-year quarter's $349.0 million.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
EPS came in at $0.21. The 14 earnings estimates compiled by S&P Capital IQ predicted $0.33 per share. GAAP EPS of $0.21 for Q2 were 64% lower than the prior-year quarter's $0.58 per share.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 71.3%, 810 basis points worse than the prior-year quarter. Operating margin was 24.1%, 1,980 basis points worse than the prior-year quarter. Net margin was 9.3%, 1,580 basis points worse than the prior-year quarter.
Next quarter's average estimate for revenue is $345.3 million. On the bottom line, the average EPS estimate is $0.34.
Next year's average estimate for revenue is $1.42 billion. The average EPS estimate is $1.67.
The stock has a four-star rating (out of five) at Motley Fool CAPS, with 143 members out of 157 rating the stock outperform, and 14 members rating it underperform. Among 48 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 45 give EQT a green thumbs-up, and three give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on EQT is outperform, with an average price target of $61.73.
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