EQT

Q2 FY2026 EarningsQ2 FY2026 performance was a miss against consensus on the top and bottom lines, with revenue of $1.81B missing the $1.84B expected and normalized EPS of $0.34 falling short of the $0.40 consensus. While Upstream sales volumes grew 12% YoY, average realized prices fell 6% to $2.65/Mcfe, significantly impacting margins. Management completed the Blackline Midstream acquisition post-quarter and provided Q3 capital expenditure guidance of $710M–$820M, signaling continued infrastructure investment despite the pricing headwinds.