8-KEarnings & Results

EQT Corp 8-K Report, Financial Results (Oct 11, 2022)

Filed October 11, 2022For Securities:EQT

Summary

EQT Corporation (EQT) has issued a Form 8-K filing on October 11, 2022, providing preliminary financial updates for the three and nine months ended September 30, 2022. The most significant information for investors relates to the company's expected derivative settlements. EQT anticipates reporting a substantial total loss on derivatives amounting to $1,627 million for the third quarter and $5,550 million for the first nine months of 2022. Furthermore, the company expects to report significant net cash outflows related to these derivatives, with $2,034 million paid for the third quarter and $4,673 million for the first nine months of the year. Investors should note that these figures are preliminary and subject to revision in EQT's upcoming Form 10-Q filing. This announcement primarily serves as a pre-release of key derivative-related financial data.

Key Highlights

  • 1EQT Corporation expects a preliminary total loss on derivatives of $1.627 billion for Q3 2022.
  • 2For the first nine months of 2022, the preliminary total loss on derivatives is expected to be $5.550 billion.
  • 3Net cash settlements paid on derivatives are projected to be $2.034 billion for Q3 2022.
  • 4Net cash settlements paid on derivatives for the first nine months of 2022 are expected to be $4.673 billion.
  • 5The reported figures are preliminary and subject to change.
  • 6Final financial results will be disclosed in EQT's Form 10-Q for the period ending September 30, 2022.
  • 7This filing (Item 2.02) is not deemed 'filed' for Section 18 liability purposes unless expressly incorporated by reference.

Frequently Asked Questions

The primary purpose of this 8-K filing is to provide investors with preliminary financial information regarding EQT Corporation's expected derivative losses and cash settlements for the three and nine months ended September 30, 2022, ahead of its full quarterly report.

No, the dollar amounts included in this Form 8-K are preliminary and subject to change. The final figures will be reported in EQT's quarterly report on Form 10-Q for the period ended September 30, 2022.

EQT expects to report a significant total loss on derivatives for Q3 2022 ($1.627 billion) and the first nine months of 2022 ($5.550 billion). Correspondingly, the company anticipates substantial net cash payments related to these derivatives for Q3 2022 ($2.034 billion) and the first nine months of 2022 ($4.673 billion).

The information provided in this Form 8-K under Item 2.02 is specifically stated as not being 'filed' for purposes of Section 18 of the Securities Exchange Act of 1934, nor is it subject to the liabilities of that section, unless expressly incorporated into another filing.