EQT (EQT) FY2018 results: revenue $4.6 billion, up 47.5% on the year
EQT Corp. (EQT) reported revenue of $4.6 billion for fiscal 2018, the year ended 31 December 2018, up 47.5% on the year before. Net income was -$2.2 billion, and diluted earnings per share $-8.60. The figures are the company's own, from the 10-K it filed with the SEC on 14 February 2019.
Revenue
$4.6 billion
+47.5% on the year
FY2008FY2018
Operating margin
-61.1%
12.4% a year earlier
FY2008FY2018
Net income
-$2.2 billion
FY2008FY2018
Diluted EPS
-$8.60
FY2008FY2018
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Revenue
4,558
3,091
1,387
+47.5%
Cost of revenue
1,697
1,165
880
+45.7%
Gross profit
2,861
1,926
507
+48.5%
Gross margin
62.8%
62.3%
36.5%
Selling, general and administrative
233
209
219
+11.3%
Operating income
-2,783
382
-755
Operating margin
-61.1%
12.4%
-54.4%
Interest expense
229
168
131
+36.3%
Pre-tax income
-3,077
199
-894
Income tax
-697
-1,188
-363
Effective tax rate
n/a
-598.4%
n/a
Net income
-2,245
1,509
-453
Net margin
-49.2%
48.8%
-32.7%
Diluted EPS
-$8.60
$8.04
-$2.71
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Operating cash flow
2,976
1,638
1,064
+81.7%
Capital expenditure
2,999
1,559
943
+92.4%
Free cash flow
-22.8
78.6
122
Free cash flow margin
-0.5%
2.5%
8.8%
Cash from investing
-3,979
-4,202
-2,886
Cash from financing
859
1,533
1,399
-44.0%
Depreciation and amortisation
1,569
971
856
+61.6%
Share-based compensation
25.2
94.6
44.6
-73.4%
Buybacks
0.0
0.0
0.0
-10.0%
Dividends paid
31.4
20.8
20.2
+50.6%
Dividend per share
$0.12
$0.12
$0.12
0.0%
Diluted shares, weighted
261m
188m
167m
+39.0%
Balance sheet
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Shareholders' equity
10,958
13,320
5,860
-17.7%
Non-controlling interest
0.0
5,095
3,259
Debt
5,497
5,997
3,289
-8.3%
Other liabilities
4,266
5,111
3,064
-16.5%
Total liabilities and equity
20,721
29,523
15,473
-29.8%
Fixed assets
17,393
19,730
13,162
-11.8%
Goodwill
0.0
471
0.0
Intangible assets
77.3
119
0.0
-34.9%
Trading assets
n/a
0.0
286
Cash and equivalents
3.5
26.3
1,104
-86.7%
Receivables
1,242
665
342
+86.8%
Other assets
2,006
8,512
579
-76.4%
Total assets
20,721
29,523
15,473
-29.8%
10-K for the year ended 31 December 2018, filed 14 February 2019: the filing.