EQTEQT Corporation

Energy · Oil & Gas Production · NYSE

We are a vertically integrated natural gas company with upstream, gathering and transmission operations focused in the Appalachian Basin. 10-K, Item 1

Employees: 1,523
Headquarters: Canonsburg, PA
CEO: Toby Z. Rice
Next results: around Jan 28, 2027

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The biggest changes in the 10-K filed 2026-02-18, this fiscal year against the last, and the sentences in the MD&A (Item 7) where management explains them, quoted word for word. Tickdelta picks sentences that name the line, a direction and a cause. It does not write explanations of its own.

Net income

+784.4% Big change FY to 2025-12-31 vs 2024-12-31

“Net income attributable to noncontrolling interests in the Midstream Joint Venture increased approximately $263 million for 2025 compared to 2024 as a result of the Midstream Joint Venture Transaction, which was completed in December 2024.”
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“In addition, net income attributable to noncontrolling interests in Eureka Holdings increased approximately $11 million due primarily to the timing of the completion of the Equitrans Midstream Merger.”
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Operating margin

13.0% → 37.6% (+24.6 pts) Big change FY to 2025-12-31 vs 2024-12-31

“On a consolidated basis, selling, general and administrative expense increased for 2025 compared to 2024 due primarily to higher labor costs driven by increased headcount as well as higher long-term incentive compensation costs as a result of increases in awards outstanding and changes in the fair value of awards.”
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“Other operating expenses increased for 2025 compared to 2024 due primarily to proceeds received in 2024 from business interruption insurance claim recoveries and increased expense from changes in legal and environmental reserves, including settlements.”
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Cash from operations

+81.3% Big change FY to 2025-12-31 vs 2024-12-31

The MD&A has no sentence that names a cause for this change. That can be worth a question: ask about the filing.

Revenue

+63.9% Big change FY to 2025-12-31 vs 2024-12-31

“Sales of natural gas, NGLs and oil increased by approximately $2,792 million for 2025 compared to 2024, reflecting an increase of approximately $2,451 million from higher average sales price and approximately $341 million from increased sales volumes.”
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“Average sales price increased for 2025 compared to 2024 due primarily to a higher NYMEX price, partly offset by lower NGLs price and an unfavorable basis differential.”
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Changes are computed from the XBRL figures in the same 10-K. Hover a number to see the line item. Open the 10-K ↗

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