EQT Corporation (EQT) saw its loss widen to $191.96 million, or $1.11 a share for the quarter ended Dec. 31, 2016. In the previous year period, the company reported a loss of $134.58 million, or $0.88 a share. On an adjusted basis, net profit for the quarter stood at $43.76 million, or $0.25 a share compared with a net loss of $10.47 million, or $0.07 a share in the last year period.
Revenue during the quarter plunged 36.97 percent to $379.02 million from $601.38 million in the previous year period. Gross margin for the quarter contracted 1887 basis points over the previous year period to 69.78 percent. Operating margin for the quarter stood at negative 49.99 percent as compared to a positive 7.53 percent for the previous year period.
Operating loss for the quarter was $189.47 million, compared with an operating income of $45.29 million in the previous year period.
However, the adjusted operating income for the quarter stood at $32.13 million compared to $1.83 million in the prior year period. At the same time, adjusted operating margin improved 817 basis points in the quarter to 8.48 percent from 0.30 percent in the last year period.
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