Q3 FY26 · Ended Sep 30, 2026 · View SEC filing
The gathering pipes earn nearly what the gas does
On a fifth of Upstream's revenue, the gathering pipes earned nearly as much, so in a low-volume quarter tolls rivalled gas sales.
For investorsWhat EQT's profit depends on if gas stays weak
For foundersOwning the toll road: the playbook behind EQT's pipes
Realized price barely moved, so the lower sales came mostly from volume, part of it left in the ground on purpose.
The filing ties the $100.3M gain to falling forward gas prices, so weaker expected prices lifted this quarter's reported profit.
Depletion keeps reported profit low, but capital spending absorbed 59.8% of operating cash, about as much as depreciation and depletion.
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Business Lens describes EQT Corporation from its own filings with the SEC. It is not a view on its shares, a target, or advice to buy, sell or hold anything; figures are as filed and may be restated by the company later. The filing is linked above.
