EQT Corporation (EQT) Q3 2022 Earnings Call Transcript

EQT Corporation (NYSE:EQT) Q3 2022 Earnings Conference Call October 27, 2022 10:00 AM ET

Company Participants

Cameron Horwitz - Managing Director, Investor Relations & Strategy

Toby Rice - President and Chief Executive Officer

David Khani - Chief Financial Officer

Conference Call Participants

Arun Jayaram - JPMorgan

Umang Choudhary - Goldman Sachs

Neal Dingmann - Truist

David Deckelbaum - Cowen & Company

Scott Hanold - RBC Capital Markets

John Abbott - Bank of America

Noel Parks - Tuohy Brothers

Kevin MacCurdy - Pickering Energy Partners

Paul Diamond - Citi

Operator

Welcome to the EQT Q3 2022 Quarterly Results Conference Call. My name is Harry, and I will be your moderator for today's call. [Operator Instructions]

I would now like to hand over to Cameron Horwitz, Managing Director of Investor Relations and Strategy to begin. Cameron, please go ahead when you are ready.

Cameron Horwitz

Good morning, and thank you for joining our third quarter 2022 earnings results conference call. With me today are Toby Rice, President and Chief Executive Officer; and David Khani, Chief Financial Officer.

The replay for today's call will be available on our website beginning this evening. In a moment, Toby and Dave will present their prepared remarks with a question-and-answer session to follow. An updated investor presentation has been posted to the Investor Relations portion of our website, and we will reference certain slides during today's discussion.

I'd like to remind you that today's call may contain forward-looking statements. Actual results and future events could materially differ from these forward-looking statements, because of the factors described in yesterday's earnings release, in our investor presentation and the Risk Factors section of our Form 10-K and in subsequent filings we make with the SEC. We do not undertake any duty to update any forward-looking statements.

Today's call may also contain certain non-GAAP financial measures. Please refer to our most recent earnings release and investor presentation for important disclosures regarding such measures, including reconciliations to the most comparable GAAP financial measures.

With that I'll turn the call over to Toby.

Toby Rice

Thanks Cam. And good morning, everyone. The energy macro landscape remains volatile as the world continues to grapple with a structural under supply of natural gas. Thanks to American source LNG, Europe has done a commendable job refilling its storage over the past few months. But those thinking that the singular goal is making it through winter failed to understand the scale of the problem at hand. Any doubt that the European energy crisis is going to be multiyear and duration ended a few weeks ago with the sabotage of the Nord Stream pipelines. Domestically natural gas production has increased as of late, which is helping to ensure the US has the energy it needs to meet demand this winter. That said, electricity prices in many parts of the country remain extremely elevated. Highlighting the continued challenges we face connecting natural gas supply with demand due to a lack of pipeline infrastructure. As many of since unveiling our Unleash US LNG campaign in March, we have been on a relentless mission to educate policymakers on the driving factors limiting US producers' ability to meet the critical energy needs of consumers, both domestically and abroad.