10-Q/APeriod: Q3 FY2014

EQT Corp Quarterly Report (Amendment) for Q3 Ended Sep 30, 2014

Filed December 3, 2014For Securities:EQT

Summary

This amended 10-Q filing for EQT Corporation, dated December 3, 2014, primarily serves to re-file Exhibit 10.01, the First Amended and Restated Limited Liability Company Agreement of Mountain Valley Pipeline, LLC. The amendment is a response to SEC inquiries regarding confidential treatment requests for certain portions of this agreement. Investors should note that this filing does not contain updated financial performance information for the quarter ended September 30, 2014, as the original 10-Q was filed on October 23, 2014. The core purpose of this amendment is procedural, focusing on the disclosure of a material contract related to the Mountain Valley Pipeline project. The filing highlights that specific terms within this agreement have been redacted and filed separately with the SEC under a confidential treatment request. Investors interested in the specifics of the Mountain Valley Pipeline venture or EQT's strategic partnerships should review the original 10-Q filing for operational and financial details, as this amendment's focus is on the contractual documentation rather than updated financial results.

Financial Highlights

45 data points
Beta

Net Income

$98.56M

EPS (Diluted)

$0.65

Total Assets

$11.76B

Cash & Equivalents

$1.17B

Free Cash Flow

$213.27M

Financial Statements
Beta
SG&A Expenses$57.13M
Operating Expenses$347.22M
Operating Income$231.50M
Interest Expense$35.72M
Net Income$98.56M
EPS (Basic)$0.65
EPS (Diluted)$0.65
Shares Outstanding (Basic)151.56M
Shares Outstanding (Diluted)152.33M

Key Highlights

  • 1EQT Corporation filed an amendment (10-Q/A) to its Quarterly Report on Form 10-Q for the period ended September 30, 2014.
  • 2The amendment's sole purpose is to re-file Exhibit 10.01, the First Amended and Restated Limited Liability Company Agreement of Mountain Valley Pipeline, LLC.
  • 3This re-filing is in response to inquiries from the SEC regarding confidential treatment requests for certain redacted portions of the Mountain Valley Pipeline LLC agreement.
  • 4The filing explicitly states that it does not amend or update any other disclosures from the original Form 10-Q filed on October 23, 2014.
  • 5Key contractual terms within the Mountain Valley Pipeline LLC agreement have been redacted and filed separately under confidential treatment.
  • 6EQT Corporation is identified as a large accelerated filer.
  • 7The filing includes certifications from EQT's Principal Executive Officer and Principal Financial Officer, as well as Section 1350 certifications.

Frequently Asked Questions

The primary reason for this amended 10-Q filing is to re-file Exhibit 10.01, the First Amended and Restated Limited Liability Company Agreement of Mountain Valley Pipeline, LLC. This action was taken in response to specific inquiries from the Securities and Exchange Commission (SEC) concerning confidential treatment requests for certain portions of that agreement.

No, this amended filing does not provide updated financial results or modify any disclosures from the original Form 10-Q filed on October 23, 2014. Its purpose is procedural, focusing on the re-filing of a specific exhibit related to the Mountain Valley Pipeline agreement.

The redacted information within the Mountain Valley Pipeline, LLC agreement pertains to specific terms for which EQT Corporation has requested confidential treatment from the SEC. These redacted materials have been filed separately with the SEC to maintain their confidentiality, as per EQT's request.

Mountain Valley Pipeline, LLC is a limited liability company, and the filing indicates an 'First Amended and Restated Limited Liability Company Agreement' for it. This suggests a significant project or venture in which EQT Corporation, through its subsidiaries (MVP Holdco, LLC and US Marcellus Gas Infrastructure, LLC), is involved. The specific nature of the project is not detailed in this amendment, but it is related to the company's operations and strategic partnerships.