EQT Corporation Q1 Profit Decreases, but beats estimates

(RTTNews) - EQT Corporation (EQT) reported earnings for first quarter that decreased from last year but beat the Street estimates.

The company's bottom line totaled $103.49 million, or $0.23 per share. This compares with $1.22 billion, or $3.10 per share, in last year's first quarter.

Excluding items, EQT Corporation reported adjusted earnings of $365 million or $0.82 per share for the period.

Analysts on average had expected the company to earn $0.64 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 47.0% to $1.41 billion from $2.66 billion last year.

EQT Corporation earnings at a glance (GAAP) :

-Earnings (Q1): $103.49 Mln. vs. $1.22 Bln. last year. -EPS (Q1): $0.23 vs. $3.10 last year. -Revenue (Q1): $1.41 Bln vs. $2.66 Bln last year.