How EQT AB (EQT) makes money: Q2 2026 revenue breakdown
US GAAP · $M · vs Q2 2025 · quarter ended 06/30/2026 · reported 07/21/2026
EQT AB is a Swedish global investment organization founded in 1994. · Text: Wikipedia, CC BY-SA 4.0, abridged
More about the company
Its funds invest in private equity, infrastructure, real estate, growth equity, and venture capital in Europe, North America, and Asia Pacific. As of 2025, EQT's assets under management are €266 billion (US$285 billion), of which €141 billion are fee-generating. It is ranked the second largest private equity firm worldwide based on funds raised according to the 2026 edition of Private Equity International's PEI 300 ranking.
Key growth driver: Pipeline and other — the fastest-growing revenue line: $155, +13% y/y. · by the Q2 2026 report
How does EQT AB make money?
EQT AB brought in $1.81 billion of revenue in Q2 2026, down 29.2% year over year. The largest source was Sales of natural gas, natural gas liquids and oil: $1.61 billion, or 89% of the total, followed by Pipeline and other ($155M, 9%) and Gain (loss) on derivatives ($44.6M, 2%). Net income for the quarter was $211 million, down 73.0% year over year.
Revenue by source, Q2 2026
- Sales of natural gas, natural gas liquids and oil$1.61B · 89% · −5.3%
- Pipeline and other$155M · 9% · +13.1%
- Gain (loss) on derivatives$44.6M · 2% · −93.8%
Shares of $1.81B total revenue; changes are year over year, as reported. ≈ marks lines derived from disclosed totals. The same flows are drawn in the Sankey chart below.
When is EQT’s next earnings date?
Thursday, January 28, 2027estimated
Expected around Jan 28, 2027 — based on last year’s report on Jan 29, 2026. We have not yet seen the company's announcement of the date.
How we estimate
The estimate is the date of the same-quarter report a year ago, per the company’s SEC filing, moved forward 52 weeks (same weekday). Companies usually keep the same week; the date will be replaced once EQT announces it.
Same quarter a year ago (ended December 31, 2025): revenue $2.39B, EPS (GAAP) $1.08
How we calculate
Year-ago figures are GAAP, from the company's SEC filings (XBRL); EPS is diluted.
What time does EQT report? Usually after market close: the last 4 results releases reached the SEC at 4:20 pm, 4:31 pm, 4:15 pm, 4:31 pm ET.
Last report: Jul 21, 2026 (Q2 2026) — broken down in the Sankey chart below. Dates: company announcements; past dates and times — SEC 8-K filings. Who else reports this week →
All figures in $M.
Revenue
$1,810
−29.2%
Operating income
$394
−65.3%
21.8% margin
Net income
$211
−73.0%
$0.34/sh · 11.7% margin
Verdict: revenue fell 29.2% y/y to $1.81B, operating margin 21.8% vs 44.3%, net income $211M (−73.0% y/y).
Source and notation
Source: EQT press release, 8-K EX-99.1 of 07/21/2026 (SEC EDGAR). Every figure was matched against the income statement in the release and checked against SEC XBRL.
Open the chart as a PNG image ↗ · for sharing and presentations · free to reuse, CC BY 4.0
Heads-up
- net income fell 73% y/y in Q2 2026
- revenue fell 29% y/y in Q2 2026
Most likely because operating income was $394M, a 21.8% margin vs 44.3% a year earlier; the effective tax rate was 23.2% vs 21.6% a year earlier; costs grew faster than revenue (depreciation, depletion and amortization +11% y/y, selling, general and administrative +31% y/y, operating and maintenance +12% y/y). Based on the Q2 2026 report.
The company's report ↗Most likely because the drop came from Sales of natural gas, natural gas liquids and oil −5% y/y, Gain (loss) on derivatives −94% y/y. Based on the Q2 2026 report.
The company's report ↗EQT earnings history: past report dates
| Jul 14, 2026 Tue | 4:15 pmafter market close | Jun 30, 2026 | $1.8B−29% y/y | $0.34−74% y/y |
| Apr 14, 2026 Tue | 4:21 pmafter market close | Mar 31, 2026 | $3.4B+94% y/y | $2.36+490% y/y |
| Jan 29, 2026 Thu | 4:16 pmafter market close | Dec 31, 2025 | ≈$2.4B+47% y/y | ≈$1.08+46% y/y |
| Oct 14, 2025 Tue | 4:21 pmafter market close | Sep 30, 2025 | $2.0B+53% y/y | $0.53 |
| Jul 10, 2025 Thu | 4:23 pmafter market close | Jun 30, 2025 | $2.6B+169% y/y | $1.30 |
| Apr 10, 2025 Thu | 4:15 pmafter market close | Mar 31, 2025 | $1.7B+23% y/y | $0.40+74% y/y |
| Jan 30, 2025 Thu | 4:15 pmafter market close | Dec 31, 2024 | ≈$1.6B−20% y/y | ≈$0.74−33% y/y |
| Oct 29, 2024 Tue | 4:30 pmafter market close | Sep 30, 2024 | $1.3B+8% y/y | −$0.54 |
How we count
Report date and time — when the company filed its results press release with the SEC (Form 8-K, Item 2.02); the regular session runs 9:30 am – 4:00 pm ET. Companies that file the 8-K late in the evening publish the release the next morning: the date is that morning, before market open, and the evening filing time is not shown. Revenue and diluted EPS — the company’s XBRL filings, EPS adjusted for stock splits; ≈ — fourth quarter derived as full year minus three quarters. Source: SEC EDGAR.
EQT AB: 15-year financials
| 2025 | 8,644 | 3,250 | 2,039 | 2,838 | 390 |
| 2024 | 5,273 | 685 | 231 | 573 | 327 |
| 2023 | 6,909 | 2,314 | 1,735 | 1,160 | 228 |
| 2022 | —* | 2,718 | 1,771 | 2,065 | 204 |
| 2021 | —* | −1,361 | −1,143 | 607 | — |
| 2020 | 3,059 | −878 | −959 | 496 | 7.7 |
| 2019 | 4,417 | −1,152 | −1,222 | 249 | 30.7 |
| 2018 | 4,558 | −2,783 | −2,245 | −22.8 | 31.4 |
| 2017 | 3,091 | 382 | 1,509 | 78.6 | 20.8 |
| 2016 | 1,387 | −755 | −453 | 122 | 20.2 |
| 2015 | — | 563 | 85.2 | −1,217 | 18.3 |
| 2014 | — | 853 | 387 | −863 | 18.2 |
| 2013 | — | 655 | 391 | 1,049 | 18.1 |
| 2012 | — | 390 | 183 | 797 | 132 |
| 2011 | — | 761 | 480 | −369 | 132 |
Show all 15 yearsShow fewer
$ millions, annual 10-K reports on SEC EDGAR (US GAAP)*.
How we calculate
Figures are annual report lines; if a year was later restated (discontinued operations, mergers), we use the latest filing that shows it. Free cash flow is operating cash flow minus capital expenditures; dividends are cash paid to common shareholders during the year. “—” means the line isn’t in the filing. “—*” in revenue: we don’t show that year’s revenue — the annual figure is more than 2% off the sum of the quarters, or the filing tags several revenue lines and the total can’t be pinned down. The table starts in 2011; where the listed issuer changed (holding reorganization, redomicile), earlier years come from the predecessor’s filings.
Shareholders’ equity at Jun 30, 2026: $25.3B (61% of total assets). Compare with other S&P 500 companies →
EQT AB (EQT) earnings: FAQ
How does EQT AB make money?
EQT AB brought in $1.81 billion of revenue in Q2 2026, down 29.2% year over year. The largest source was Sales of natural gas, natural gas liquids and oil: $1.61 billion, or 89% of the total, followed by Pipeline and other ($155M, 9%) and Gain (loss) on derivatives ($44.6M, 2%). Net income for the quarter was $211 million, down 73.0% year over year.
When is EQT's next earnings date?
We have not yet seen an announcement of the date from EQT AB (EQT). Based on last year's report on Jan 29, 2026, the next report is expected around Jan 28, 2027.
What time does EQT report earnings?
EQT AB usually reports after market close: its latest results release was filed with the SEC at 4:20 pm ET on Oct 13, 2026.
When did EQT last report earnings?
EQT AB reported Q2 2026 results on Jul 21, 2026.
Where can I find EQT AB's financial statements?
On SEC EDGAR: quarterly reports (10-Q), the annual report (10-K) and earnings releases (8-K). The “Verified” badge next to the chart links to EQT's filings; this page breaks the latest report down in a Sankey chart.
What was EQT's net income in Q2 2026?
EQT AB reported net income of $211M for Q2 2026 (−73.0% year over year), under US GAAP.
Does EQT AB pay dividends?
Yes. In 2025, EQT AB paid $390M in dividends on its common stock, per its 10-K. Earlier years are in the 15-year table above.
How has EQT AB's revenue changed since 2016?
Per its 10-K filings, revenue grew 6.2x: $1,387M in 2016 and $8,644M in 2025. The latest year is the highest in the table. Year-by-year figures are in the table above.
New to earnings reports? Start with how to read an earnings report.
How this page was made: the figures come from the company's own report on SEC EDGAR; the summary and nuances were drafted by our model from that report — two independent automated readings of the release had to match, and every number in the text was checked against it. Figures checked against the filing on 10/16/2026. How we make the breakdowns · Report an error
More reports: EXE · Q2 2026 · KMI · Q2 2026 · MPC · Q2 2026 · PSX · Q2 2026 · SLB · Q2 2026 · TPL · Q2 2026 · TRGP · Q2 2026 · VLO · Q2 2026 · WMB · Q2 2026 · XOM · Q2 2026 · all reports