EQT Corp. (NYSE: EQT) reported Q4 EPS of ($0.02), $0.23 better than the analyst estimate of ($0.25). Revenue for the quarter came in at $1.25 billion versus the consensus estimate of $891.33 million.

Fourth Quarter Highlights:

• Sales volumes of 401 Bcfe
• Total per unit operating costs of $1.30/Mcfe, $0.14 lower than 3Q20 and below guidance
• Net cash provided by operating activities of $406 MM; free cash flow(1) of $109 MM
• Capital expenditures of $266 MM, in-line with guidance
• Well costs of $695/ft. in the PA Marcellus; second sequential quarter below $735/ft. target
• Received $48 MM in federal income tax refunds
• Extinguished $200 MM in 2021 and 2022 senior notes
• Acquired Chevron\'s Appalachian assets for $735 MM, subject to standard closing adjustments
• Received credit rating upgrade by S&P Global in October 2020
  • Upgraded by Moody's Investor Services in February 2021

President and CEO Toby Rice stated, "2020 was likely the most transformative year in EQT\'s history, one in which we turned vision into actions. We significantly outperformed the financial and operational plan established at the beginning of the year, positioned the company for the long-term by strengthening our balance sheet, and evolved the organization to sustainably create value in any future environment."

Rice continued, "The extension of our digital evolution across the entire organization will bring greater governance, efficiency, and sustainability to our operational and financial performance as we move into 2021. With a world-class team in place, a clearly defined strategy, and an aligned corporate culture, we are set to take EQT to the next level. As we continue this transformational journey, our commitment to the environment and the communities in which we operate will be the heart of our strategy."

For earnings history and earnings-related data on EQT Corp. (EQT) click here.