EQT Corporation (EQT)

Pretax margin

		Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019
Earnings before tax but after interest (EBT) (ttm)	US$ in thousands	2,104,182	3,722,108	4,603,582	5,881,626	2,324,696	2,451,096	-1,022,970	-3,502,140	-1,570,786	-3,895,446	-2,083,653	-1,170,161	-1,254,092	-2,870,252	-2,491,226	-1,960,717	-1,597,475	-790,490	-454,773	-696,320
Revenue (ttm)	US$ in thousands	6,908,920	8,345,750	9,229,110	10,737,870	10,563,420	10,923,280	10,637,870	9,188,260	7,651,563	5,064,453	3,452,530	2,901,704	3,058,841	2,817,741	3,597,190	4,380,366	4,416,476	4,650,136	4,748,610	4,389,008
Pretax margin		30.46%	44.60%	49.88%	54.77%	22.01%	22.44%	-9.62%	-38.12%	-20.53%	-76.92%	-60.35%	-40.33%	-41.00%	-101.86%	-69.25%	-44.76%	-36.17%	-17.00%	-9.58%	-15.87%

December 31, 2023 calculation

Pretax margin = EBT (ttm) ÷ Revenue (ttm)
= $2,104,182K ÷ $6,908,920K
= 30.46%

The pretax margin for EQT Corp has varied significantly over the past several quarters. In Q4 2023, the pretax margin was 30.45%, representing a healthy profitability level. However, this figure was considerably higher in Q3 2023 at 228.66%, which may have been influenced by certain one-time gains or anomalous factors impacting the company's profitability.

The pretax margin decreased in Q2 2023 to 106.78%, indicating a moderation in profitability compared to the previous quarter. Nonetheless, it remained at a robust level. In Q1 2023, the pretax margin stood at 86.18%, showing continued profitability for EQT Corp, although it was lower than in the preceding quarter.

Looking back further, the pretax margin in Q4 2022 was 31.14%, suggesting a relatively stable level of profitability compared to Q1 2023. In Q3 2022, the pretax margin was 24.19%, demonstrating an improvement from the previous quarter. However, there were notable decreases in profitability in Q2 2022 (-12.45%) and Q1 2022 (-76.16%), reflecting challenges or exceptional circumstances faced by the company during those periods.

Overall, EQT Corp's pretax margin has displayed fluctuations over the analyzed quarters, with some periods exhibiting exceptional performance, while others experienced declines in profitability. Monitoring these trends over time can provide insights into the company's financial health and performance.