EQT Corporation (EQT) CEO Toby Rice on Q1 2022 Results - Earnings Call Transcript

EQT Corporation (NYSE:EQT) Q1 2022 Earnings Conference Call April 28, 2022 10:00 AM ET

Company Participants

Cameron Horwitz - Managing Director, Investor Relations & Strategy

Toby Rice - President & Chief Executive Officer

David Khani - Chief Financial Officer

Conference Call Participants

Arun Jayaram - JPMorgan

Holly Stewart - Scotia Howard Weil

Neal Dingmann - Truist Securities

Umang Choudhary - Goldman Sachs

Josh Silverstein - Wolfe Research

Scott Hanold - RBC Capital Markets

John Abbott - Bank of America

David Deckelbaum - Cowen and Company

Harry Mateer - Barclays

Noel Parks - Tuohy Brothers

Operator

Good morning. Thank you for attending today's EQT Quarter One 2022 Quarterly Results Conference Call. My name is Amber, and I will be your moderator for today's call. All lines will be muted until the question-and-answer portion of today’s presentation. [Operator Instructions]

I now have the pleasure of handing our conference over to our host, Cameron Horwitz with EQT. Cameron, please proceed.

Cameron Horwitz

Good morning, and thank you for joining our first 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 for a 7-day period 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 and 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. Since our fourth quarter conference call, the dialogue around energy has been fundamentally altered. The invasion of Ukraine has accelerated an already emerging global energy crisis while also reasserting security as a foundational pillar of energy and climate policy. Even before the invasion, we were seeing the impacts of global undersupply of traditional energy sources. This manifested in high energy prices, economic rationing and rampant inflation. Now we have crossed an even dire threshold with military conflict occurring in Europe and signs of energy insecurity emerging in the United States as well. At the same time, the world is falling behind on its emissions reduction goals. With this as a backdrop, a fundamental shift is clearly needed, one offering bold yet practical solutions that can provide energy security to the world while getting us back on track to meeting global emissions targets.