Estimates
Source: S&P Capital IQ consensus via Xpressfeed · Generated 2026-08-02.
EQT's consensus tape is being marked down at the near end even as the print record stays strong. Normalized-EPS estimates for FY2027 have fallen roughly 16% over the past 180 days and revenue about 6%, carving an FY2027 dip between higher FY2026 and FY2028 numbers. Yet the company has beaten normalized EPS in seven of the last eight quarters, and the sell side remains overwhelmingly positive with no sell ratings. Coverage thins sharply beyond FY2028.
Estimate momentum
EPS is being cut faster than revenue for FY2027, a near-year, margin-led downgrade. FY2028 normalized EPS has barely moved over 180 days.
Currency: USD · Scale: money in millions, absolute · Point-in-time consensus; Δ90d is Now versus 90d.
| Metric | FY | 180d | 90d | 30d | Now | Δ90d |
|---|---|---|---|---|---|---|
| EPS (normalized) | FY2027 | $4.77 | $4.67 | $4.39 | $3.98 | -14.8% |
| EPS (normalized) | FY2028 | $5.19 | $5.37 | $5.23 | $5.16 | -4.0% |
| Revenue | FY2027 | $9.84bn | $9.68bn | $9.45bn | $9.25bn | -4.4% |
| Revenue | FY2028 | $10.78bn | $10.29bn | $9.92bn | $10.13bn | -1.6% |
Beat / miss record
Current sequences by metric: Revenue: 1 consecutive miss; EPS (normalized): 1 consecutive miss.
Currency: USD · Scale: money in millions, absolute · Consensus is captured before each actual first became effective.
| Quarter | Metric | Consensus | Actual | Surprise | Outcome |
|---|---|---|---|---|---|
| Q2 FY2026 | Revenue | $1.84bn | $1.81bn | -1.7% | Miss |
| Q2 FY2026 | EPS (normalized) | $0.40 | $0.39 | -3.2% | Miss |
| Q1 FY2026 | Revenue | $3.24bn | $3.38bn | +4.2% | Beat |
| Q1 FY2026 | EPS (normalized) | $2.15 | $2.33 | +8.4% | Beat |
| Q4 FY2025 | Revenue | $2.16bn | $2.39bn | +10.4% | Beat |
| Q4 FY2025 | EPS (normalized) | $0.76 | $0.90 | +17.7% | Beat |
| Q3 FY2025 | Revenue | $1.81bn | $1.96bn | +8.4% | Beat |
| Q3 FY2025 | EPS (normalized) | $0.38 | $0.52 | +38.2% | Beat |
| Q2 FY2025 | Revenue | $1.74bn | $2.56bn | +46.7% | Beat |
| Q2 FY2025 | EPS (normalized) | $0.41 | $0.45 | +10.0% | Beat |
| Q1 FY2025 | Revenue | $2.09bn | $1.74bn | -16.8% | Miss |
| Q1 FY2025 | EPS (normalized) | $1.01 | $1.18 | +16.6% | Beat |
| Q4 FY2024 | Revenue | $1.81bn | $1.62bn | -10.5% | Miss |
| Q4 FY2024 | EPS (normalized) | $0.53 | $0.69 | +31.4% | Beat |
| Q3 FY2024 | Revenue | $1.39bn | $1.28bn | -7.9% | Miss |
| Q3 FY2024 | EPS (normalized) | $0.07 | $0.12 | +77.2% | Beat |
Consensus revenue and EBITDA both sag in FY2027 before FY2028 reacceleration
Both revenue and EBITDA step down in FY2027 versus FY2026 before reaccelerating in FY2028, mirroring the near-year estimate cuts.
Currency: USD · Scale: money in millions, absolute · YoY uses the prior fiscal year from the feed; analyst count and range use the first displayed period.
| Metric | FY2025A | FY2026E | FY2027E | FY2028E | YoY | Analysts | Low / high |
|---|---|---|---|---|---|---|---|
| Revenue | $8.43bn | $9.44bn | $9.25bn | $10.13bn | — | 10 | $8.26bn / $8.68bn |
| EBITDA | $5.45bn | $6.48bn | $6.44bn | $7.27bn | — | 21 | $5.01bn / $5.92bn |
| EPS (normalized) | $2.91 | $4.15 | $3.98 | $5.16 | — | 24 | $2.59 / $3.28 |
| Net income (GAAP) | $1.87bn | $2.70bn | $2.76bn | $3.15bn | — | 12 | $1.78bn / $1.99bn |
Analysts split hard on FY2027: normalized EPS spans 1.66 to 5.80
The FY2027 normalized-EPS range is unusually wide for a well-covered near year, and FY2027 EBITDA is nearly as dispersed across 19 analysts.
Currency: USD · Scale: money in millions, absolute · Spread/mean is absolute high-low divided by absolute mean.
| Metric | Period | Mean | Low–high | Spread/mean | Analysts |
|---|---|---|---|---|---|
| EPS (normalized) | FY2027E | $3.98 | $1.66–$5.80 | 103.9% | 23 |
| EBITDA | FY2027E | $6.44bn | $4.60bn–$7.97bn | 52.2% | 19 |
| EPS (normalized) | FY2028E | $5.16 | $3.39–$7.47 | 79.1% | 16 |
Street snapshot
Currency: USD · Scale: money in millions, absolute · Analyst counts shown explicitly.
| Street view | Reading | Analysts |
|---|---|---|
| Recommendation mix | Buy 17, Outperform 3, Hold 5, Underperform 0, Sell 0 | 25 |
| Consensus score | 1.52 | 25 |
| Target price | mean $67.08; median $67.00; high $81.00; low $52.00 | 25 |
Coverage thins sharply beyond FY2028
FY2029 rests on just two to three analysts per line (revenue and normalized EPS at n=2), and even FY2028 revenue draws only nine estimates. Treat the outer years as thin.