Income (Loss) Per Share

9 Months Ended

Sep. 30, 2025

The table below provides the computation for basic and diluted income (loss) per share.


	Three Months Ended September 30,				Nine Months Ended September 30,
	2025		2024		2025		2024

	(Thousands, except per share amounts)
Net income (loss) attributable to EQT Corporation – Basic and diluted income (loss) available to shareholders	$	335,862	$	(300,823)	$	1,362,148	$	(187,818)

Weighted average common stock outstanding – Basic	624,532		559,603		607,245		480,354
Options, restricted stock, performance awards and stock appreciation rights (a)	3,792		—		4,182		—
Weighted average common stock outstanding – Diluted	628,324		559,603		611,427		480,354

Income (loss) per share of common stock attributable to EQT Corporation:
Basic	$	0.54	$	(0.54)	$	2.24	$	(0.39)
Diluted	$	0.53	$	(0.54)	$	2.23	$	(0.39)

(a)In periods when the Company reports a net loss, all options, restricted stock, performance awards and stock appreciation awards, as applicable, are excluded from the calculation of diluted weighted average shares outstanding because of their anti-dilutive effect on loss per share. As a result, for the three and nine months ended September 30, 2024, all such securities of 7.6 million and 6.0 million, respectively, were excluded from potentially dilutive securities because of their anti-dilutive effect on loss per share.

In addition, prior to EQT's redemption of the Convertible Notes, the Company used the if-converted method to calculate the impact of the Convertible Notes on diluted (loss) income per share. For the nine months ended September 30, 2024, such if-converted securities of approximately 0.5 million as well as the related add back of interest expense on the Convertible Notes, net of tax, were excluded from potentially dilutive securities because of their anti-dilutive effect on loss per share.