The 10-second takeaway
For the quarter ended March 31 (Q1), EQT beat expectations on revenues and crushed expectations on earnings per share.
Compared to the prior-year quarter, revenue expanded significantly. GAAP earnings per share increased significantly.
Margins increased across the board.
EQT logged revenue of $458.1 million. The three analysts polled by S&P Capital IQ looked for sales of $442.9 million on the same basis. GAAP reported sales were 24% higher than the prior-year quarter's $450.0 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 $0.66. The 15 earnings estimates compiled by S&P Capital IQ anticipated $0.52 per share. GAAP EPS of $0.66 for Q1 were 38% higher than the prior-year quarter's $0.48 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 71.6%, 390 basis points better than the prior-year quarter. Operating margin was 35.6%, 180 basis points better than the prior-year quarter. Net margin was 17.9%, 190 basis points better than the prior-year quarter. (Margins calculated in GAAP terms.)
Next quarter's average estimate for revenue is $442.3 million. On the bottom line, the average EPS estimate is $0.49.
Next year's average estimate for revenue is $1.93 billion. The average EPS estimate is $2.35.
The stock has a four-star rating (out of five) at Motley Fool CAPS, with 137 members out of 147 rating the stock outperform, and 10 members rating it underperform. Among 53 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 51 give EQT a green thumbs-up, and two 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 $69.75.
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