PITTSBURGH (AP) _ EQT Corp. (EQT) on Thursday reported fourth-quarter net income of $1.28 billion, after reporting a loss in the same period a year earlier.
The Pittsburgh-based company said it had profit of $5.83 per share. Earnings, adjusted for one-time gains and costs, came to 76 cents per share.
The results exceeded Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of 22 cents per share.
The energy company posted revenue of $1.13 billion in the period, which also beat Street forecasts. Five analysts surveyed by Zacks expected $886.3 million.
For the year, the company reported net income of $1.51 billion, or $8.04 per share, swinging to a profit in the period. Revenue was reported as $3.38 billion.
EQT shares have fallen 15 percent since the beginning of the year, while the Standard & Poor's 500 index has climbed almost 1 percent. The stock has fallen 23 percent in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on EQT at https://www.zacks.com/ap/EQT