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EQT 8-K filings, explained
Every material Form 8-K EQT has filed with the SEC since July 10, 2025, read and summarized by AI: what happened, the key figures, whether it reads positive or negative for shareholders, and how big a deal it is (impact 1-5). Newest first; each brief links to its own page and to the filing on SEC.gov.
EQT reported third quarter 2026 results with lower sales volume, net income and per-share earnings than a year earlier. The company also announced its acquisition of Range Resources, and it cut net debt to $5.5 billion from $7.7 billion at the end of 2025.
Net income attributable to EQT was $279 million, down from $336 million, and diluted EPS was $0.44, down from $0.53.
Sales volume fell to 583 Bcfe from 634 Bcfe, and free cash flow attributable to EQT was $283 million, down from $484 million.
Net debt was $5.5 billion at September 30, 2026, compared with $7.7 billion at December 31, 2025.
The company canceled its third quarter earnings call following the announcement of the Range acquisition.
EQT agreed to acquire Range Resources in an all-stock merger, with each Range share exchanged for 0.987 EQT shares and EQT holders owning about 73% of the combined company. The deal is subject to shareholder votes at both companies, regulatory approvals, and other closing conditions, with closing expected in the first quarter of 2027, so the transaction would reshape EQT's ownership and scale if completed.
Each Range common share converts into 0.987 EQT common shares; EQT holders expected to own about 73% and Range holders about 27%
Termination fees: Range would pay EQT $423 million and EQT would pay Range $1,148 million in certain circumstances
Expected to close in the first quarter of 2027; either party may terminate if not completed by October 25, 2027, extendable to April 25, 2028
Expected annual synergies of $325 million within two years; Range CEO Dennis Degner and one other Range designee to join EQT's board
EQT Corporation said it expects to report a total gain on derivatives of $100 million for the three months ended September 30, 2026, including $70 million in net cash settlements received, with $68 million from NYMEX natural gas hedges. The figures are preliminary and will be finalized in the company's Form 10-Q or earnings release, so they give shareholders an early read on hedging results rather than a full picture of operating performance.
Expected total gain on derivatives of $100 million for the quarter ended September 30, 2026
Net cash settlements received on derivatives of $70 million, including $68 million on NYMEX natural gas hedges and $2 million on basis and liquids hedges
No premiums paid or received for derivatives that settled during the period
Amounts are preliminary and will be reported in the Form 10-Q or corresponding earnings release
EQT Corporation set up a commercial paper program on October 7, 2026, allowing it to issue short-term unsecured notes with total outstanding face amount not to exceed $3.5 billion. As of the filing date, the company had not issued any notes under the program, and it plans to keep backstop capacity under its senior unsecured revolving credit facility at least equal to notes outstanding.
Program cap: $3.5 billion aggregate principal outstanding at any time, unless increased under dealer agreements
Maturities up to 397 days from issuance; proceeds for general corporate purposes, including capital expenditures and acquisitions
Senior unsecured revolving credit facility expected to serve as liquidity backstop; no notes issued as of the filing
EQT reported second quarter 2026 net income attributable to EQT of $211 million, or $0.34 per diluted share, down from $784 million, or $1.30, a year earlier, while sales volume rose to 634 Bcfe from 568 Bcfe. The company raised its full-year 2026 sales volume guidance and cut its full-year capital expenditure guidance by $25 million. For shareholders, production and debt reduction improved, but reported earnings declined year over year.
Net income attributable to EQT was $211 million, or $0.34 per diluted share, versus $784 million, or $1.30, in the second quarter of 2025.
Adjusted EPS was $0.39 versus $0.45 a year earlier; average realized price was $2.65 per Mcfe versus $2.81.
Full-year 2026 sales volume guidance raised to 2,375 to 2,450 Bcfe; full-year capital spending guidance reduced by $25 million.
Total debt was $5.7 billion at June 30, 2026, down from $7.8 billion at December 31, 2025; the Blackline Midstream acquisition for $77 million closed July 21, 2026.
EQT said in a preliminary Form 8-K that it expects a total gain on derivatives of $45 million for the three months ended June 30, 2026, and net cash settlements received on derivatives of $73 million. The figures are preliminary and will be finalized in the company's Form 10-Q or earnings release, so the filing shows hedging results rather than full quarterly results.
Expected total gain on derivatives of $45 million for the three months ended June 30, 2026
Net cash settlements received on derivatives of $73 million, including $76 million received on NYMEX natural gas hedges and $3 million paid on basis and liquids hedges
No premiums paid or received for derivatives that settled during the period
Final amounts will be reported in the Form 10-Q for the period ended June 30, 2026 or in the corresponding earnings release
EQT reported first quarter 2026 net income attributable to the company of $1.49 billion, or $2.36 per diluted share, compared with $242 million, or $0.40 per share, a year earlier. Sales volume rose to 618 Bcfe from 571 Bcfe, and the company reported record quarterly free cash flow attributable to EQT of $1.83 billion. Total debt fell to $6.0 billion from $7.8 billion at December 31, 2025, which shareholders may watch as the company works toward its $5 billion maximum long-term debt target.
Diluted EPS of $2.36 vs. $0.40 a year earlier; adjusted EPS of $2.33 vs. $1.18
Sales volume of 618 Bcfe vs. 571 Bcfe; average realized price of $5.08 per Mcfe vs. $3.77
Free cash flow attributable to EQT of $1.83 billion, a record quarterly figure per the company
Q2 2026 sales volume guidance of 570 to 620 Bcfe, including 10 to 15 Bcfe of strategic curtailments
At its April 14, 2026 annual meeting, EQT shareholders approved the Third Amendment to the 2020 Long-Term Incentive Plan, which adds 34,000,000 authorized shares, removes the share pool assumed from the 2024 Equitrans Midstream acquisition, and extends the plan term from 2030 to 2036. Shareholders also elected all 11 directors, approved executive pay for 2025 on a non-binding basis, and ratified Ernst & Young LLP as auditor for 2026.
Third Amendment adds 34,000,000 shares to the 2020 LTIP and extends its term from 2030 to 2036
Amendment was approved by the Board on February 24, 2026 and by shareholders on April 14, 2026, with 505,134,172 shares voting for and 8,208,224 against
Say-on-pay resolution on 2025 named executive officer compensation passed with 485,915,092 shares for and 27,460,142 against
Ernst & Young LLP ratified as independent auditor for fiscal year ending December 31, 2026
EQT Corporation said in an 8-K filed April 14, 2026 that it expects a total loss on derivatives of $238 million for the three months ended March 31, 2026. It also expects net cash settlements paid on derivatives of $304 million for the period, including $114 million on NYMEX natural gas hedges and $190 million on basis and liquids hedges. The figures are preliminary and will be finalized in its first-quarter Form 10-Q or earnings release.
Expected total loss on derivatives of $238 million for the three months ended March 31, 2026
Expected net cash settlements paid on derivatives of $304 million, including $114 million on NYMEX natural gas hedges and $190 million on basis and liquids hedges
No premiums paid or received for derivatives that settled during the period
Dollar amounts are preliminary and subject to change; final figures to be reported in the Form 10-Q or earnings release
EQT reported fourth-quarter and full-year 2025 results and issued 2026 guidance. Fourth-quarter net income attributable to EQT rose to $677 million, or $1.08 per diluted share, from $418 million, or $0.69, a year earlier, and full-year 2025 net income attributable to EQT reached $2.04 billion versus $231 million in 2024. The company projects about $3.5 billion of free cash flow attributable to EQT in 2026 at recent strip pricing, which shareholders will weigh against the 2026 production and capital spending plans.
Q4 2025 net income attributable to EQT was $677 million ($1.08 diluted EPS), versus $418 million ($0.69) in Q4 2024; adjusted EPS was $0.90 versus $0.67
Full-year 2025 diluted EPS was $3.31 versus $0.45 in 2024; adjusted EPS was $3.05 versus $1.60
2026 guidance: production of 2,275 to 2,375 Bcfe, maintenance capital expenditures of $2,070 to $2,210 million, and expected net debt of about $4.7 billion at year-end 2026
EQT exercised an option to buy part of ConEdison's interest in MVP Mainline and MVP Boost for a total of about $115 million payable by EQT, with closing expected in the first half of 2026
EQT's Compensation Committee approved a 2026 Short-Term Incentive Plan on February 4, 2026, setting annual cash bonus opportunities for executive officers and other participating employees. The plan's terms and performance measures are substantially the same as the 2025 plan, so it is a routine annual update rather than a change in direction for shareholders.
Committee approved the 2026 STIP on February 4, 2026; awards cover services in calendar year 2026 and are payable in 2027.
Performance measures include free cash flow per share, total capital expenditures, cash operating costs, environmental, health and safety intensity, and natural gas production.
The Compensation Committee can increase, reduce or eliminate any payable award and may settle awards in company stock under the 2020 LTIP.
A change of control would pro-rate performance measurement and payouts through the change-of-control date.
EQT said it expects a total gain on derivatives of $114 million for the three months ended December 31, 2025, with net cash settlements received of $35 million. The company also expects $45 million of premiums paid for derivatives that settled in the period. The figures are preliminary, and final amounts will be reported in its 10-K or a later earnings release.
Total gain on derivatives expected at $114 million for the three months ended December 31, 2025.
Net cash settlements received on derivatives expected at $35 million, including $44 million on NYMEX natural gas hedges, offset by $9 million paid on basis and liquids hedges.
Premiums paid for derivatives that settled in the period expected at $45 million.
Dollar amounts are preliminary and subject to change; final figures to come in the Form 10-K or earnings release.
EQT reported third quarter 2025 net income attributable to EQT of $336 million, compared with a loss of $301 million a year earlier, and diluted EPS of $0.53 versus a loss of $0.54. Adjusted EPS was $0.52, up from $0.16, on sales volume of 634 Bcfe, up from 581 Bcfe, and the company raised its quarterly dividend by 5% to $0.66 per share annualized. Shareholders also got fourth quarter 2025 guidance of 550 to 600 Bcfe in sales volume and total debt of $8.2 billion at September 30, 2025, down from $9.3 billion at December 31, 2024.
Net income attributable to EQT was $336 million for the third quarter of 2025, versus a loss of $301 million in the same period of 2024
Adjusted EPS was $0.52, compared with $0.16 a year earlier; free cash flow attributable to EQT was $484 million
Dividend increased 5% to $0.66 per share, annualized
Fourth quarter 2025 sales volume guidance is 550 to 600 Bcfe; full-year 2025 guidance is 2,325 to 2,375 Bcfe
EQT Corporation said in a preliminary 8-K that it expects to report a total gain on derivatives of $136 million for the three months ended September 30, 2025, including $75 million of net cash settlements received on derivatives. The company said no premiums were paid or received on derivatives that settled in the period. Final figures will appear in its Form 10-Q or earnings release, and the amounts are subject to change.
Expected total gain on derivatives for the three months ended September 30, 2025: $136 million
Net cash settlements received on NYMEX natural gas hedge positions: $59 million
Net cash settlements received on basis and liquids hedge positions: $16 million
Filing is dated October 14, 2025 and signed by CFO Jeremy T. Knop; amounts are preliminary
EQT Corporation approved an unpaid sabbatical leave for Chief Information Officer Richard A. Duran, starting September 2, 2025 and running through February 3, 2026. During the leave he remains an employee but will not perform his regular CIO duties or receive base salary, though he will attend board and certain executive meetings and be available to consult on emergencies involving information security or cybersecurity.
Sabbatical approved August 25, 2025, covering September 2, 2025 to February 3, 2026
Richard A. Duran is Chief Information Officer; he will not receive base salary during the leave
Duran will attend board and certain executive team meetings and be available as needed for information security or cybersecurity emergencies
EQT reported second quarter 2025 net income attributable to EQT of $784 million, up from $10 million a year earlier, and diluted EPS of $1.30 versus $0.02. The company raised its 2025 sales volume guidance by 100 Bcfe to 2,300–2,400 Bcfe, reflecting the Olympus Acquisition closed July 1, while lowering its per-unit operating cost guidance by 6 cents per Mcfe and reaffirming capital spending guidance of $2,300–$2,450 million.
Net income attributable to EQT was $784 million in Q2 2025 versus $10 million in Q2 2024; diluted EPS was $1.30 versus $0.02, and adjusted EPS was $0.45 versus a loss of $0.08.
Sales volume was 568 Bcfe, at the high end of guidance, and average realized price was $2.81 per Mcfe versus $2.33 a year earlier.
2025 sales volume guidance rose 100 Bcfe to 2,300–2,400 Bcfe; per-unit operating cost guidance fell 6 cents per Mcfe; total capital expenditure guidance was reaffirmed at $2,300–$2,450 million.
Total debt was $8.3 billion and net debt was $7.8 billion at June 30, 2025, down from $9.1 billion at December 31, 2024.
EQT said it expects a total gain on derivatives of $720 million for the three months ended June 30, 2025. The company also expects net cash settlements paid on derivatives of $101 million for the same quarter. The figures are preliminary and will be finalized in the quarterly report on Form 10-Q or the corresponding earnings release.
Expected total gain on derivatives of $720 million for the three months ended June 30, 2025
Expected net cash settlements paid on derivatives of $101 million, driven by $102 million paid on NYMEX natural gas hedge positions
Net cash settlements received on basis and liquids hedge positions were $1 million; no premiums were paid or received on derivatives that settled
Figures are preliminary and subject to change; final amounts will appear in the Form 10-Q for the period ended June 30, 2025
Briefs are written by AI from the filing text (each brief's own page names the model) and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the model's reading of the filing for shareholders, not a price forecast. Not investment advice.
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