EQT Corp. (NYSE: EQT) reported Q4 EPS of $0.79, $0.05 worse than the analyst estimate of $0.84. Revenue for the quarter came in at $1.25 billion versus the consensus estimate of $1.25 billion.

Robert J. McNally, president and chief executive officer, said, “Our strong fourth quarter performance demonstrates our focus on operations and on positioning EQT for increased efficiency, cash flow growth, and shareholder value creation. With world-class assets, a sound plan, and a strong team committed to operational excellence, we look forward to building on our recent progress.”

McNally added, “Throughout the last 12 months, EQT has transformed into a focused upstream industry leader with a strong balance sheet and simplified corporate structure. We project that EQT will generate approximately $300-400 million of adjusted free cash flow in 2019 and approximately $2.9 billion over the next five years. We are committed to lowering costs and improving operational efficiencies across the organization and previously announced actions that reduced annual cash costs by approximately $100 million. Today, we announce an additional $50 million in annual cost reductions, a first step toward realizing our ‘Target 10% Initiative’.”

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