EQT Reports First Quarter 2011 Earnings

EQT Corporation EQT today announced first quarter 2011 earnings of $122.3 million, $34.2 million higher than the first quarter 2010. Operating cash flow was $249.1 million; 22% higher than the first quarter 2010. Reported earnings per diluted share were $0.82 for the quarter, up from the $0.65 reported in 2010. The quarter included two items that had a positive affect on earnings: a gain on the sale of the Langley natural gas processing complex and a reduction of certain non-income tax accruals; the combined effect was approximately $36.1 million pre-tax earnings, or $0.15 per share after-tax, and did not have a significant impact on operating cash flow.