EQT Corp. (NYSE: EQT) reported Q1 EPS of $1.70, $0.30 better than the analyst estimate of $1.40. Revenue for the quarter came in at $1.89 billion versus the consensus estimate of $1.79 billion.

The Company maintains its expectation of 1,900 – 2,000 Bcfe total sales volume for 2023. The Company expects capital expenditures, excluding noncontrolling interests, to total $1,700 – $1,900 million in 2023, including $1,400 – $1,535 million planned for reserve development. Included in the 2023 capital expenditures budget is greater than $100 million of capital associated with delayed 2022 wells which are now expected to be turned-in-line (TIL) in 2023. During the second quarter, the Company plans to TIL 32 – 43 net wells. Inclusive of the Company\'s hedge position, the Company estimates a 2023 NYMEX Henry Hub free cash flow breakeven price of less than $1.65 per MMBtu. All guidance items exclude the impact of the pending Acquisition.

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