2024 Q2 Form 10-Q Financial Statement

#000003321324000021 Filed on April 24, 2024

View on sec.gov

Income Statement

Concept 2024 Q2 2024 Q1
Revenue $952.5M $1.412B
YoY Change -6.5% -46.93%
Cost Of Revenue $543.1M $647.5M
YoY Change -6.08% 25.73%
Gross Profit $409.4M $764.8M
YoY Change -7.06% -64.36%
Gross Profit Margin 42.99% 54.15%
Selling, General & Admin $67.21M $73.05M
YoY Change 11.71% 40.77%
% of Gross Profit 16.41% 9.55%
Research & Development $1.378M $916.0K
YoY Change 14.55% -3.78%
% of Gross Profit 0.34% 0.12%
Depreciation & Amortization $466.0M $486.8M
YoY Change 17.77% 25.55%
% of Gross Profit 113.81% 63.65%
Operating Expenses $67.21M $572.7M
YoY Change -85.71% 1003.58%
Operating Profit $2.971M $192.1M
YoY Change -109.94% -88.08%
Interest Expense -$36.12M -$51.91M
YoY Change -5.52% -211.52%
% of Operating Profit -1215.65% -27.02%
Other Income/Expense, Net $19.43M $205.0K
YoY Change 3357.47% 17.14%
Pretax Income -$34.98M $127.4M
YoY Change -55.54% -91.92%
Income Tax -$44.22M $24.30M
% Of Pretax Income 19.08%
Net Earnings $9.517M $103.5M
YoY Change -114.28% -91.51%
Net Earnings / Revenue 1.0% 7.33%
Basic Earnings Per Share $0.02 $0.24
Diluted Earnings Per Share $0.02 $0.23
COMMON SHARES
Basic Shares Outstanding 441.6M shares 440.4M shares
Diluted Shares Outstanding 444.9M shares 445.0M shares

Balance Sheet

Concept 2024 Q2 2024 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $29.97M $648.0M
YoY Change -97.53% -69.54%
Cash & Equivalents $29.97M $648.0M
Short-Term Investments
Other Short-Term Assets $523.2M $911.9M
YoY Change -28.81% -23.64%
Inventory
Prepaid Expenses
Receivables $587.0M $445.2M
Other Receivables $89.69M $90.67M
Total Short-Term Assets $1.230B $2.096B
YoY Change -49.3% -46.94%
LONG-TERM ASSETS
Property, Plant & Equipment $23.18B $23.02B
YoY Change 26.48% 26.26%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $300.4M $320.0M
YoY Change -42.72% -36.92%
Total Long-Term Assets $23.48B $23.34B
YoY Change 24.56% 24.55%
TOTAL ASSETS
Total Short-Term Assets $1.230B $2.096B
Total Long-Term Assets $23.48B $23.34B
Total Assets $24.71B $25.44B
YoY Change 16.14% 12.11%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.198B $1.125B
YoY Change 14.13% -2.46%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $6.388M $607.0M
YoY Change -98.46% 46.88%
Total Short-Term Liabilities $1.686B $2.374B
YoY Change -22.78% -10.91%
LONG-TERM LIABILITIES
Long-Term Debt $4.945B $4.898B
YoY Change 16.15% -3.18%
Other Long-Term Liabilities $1.068B $1.067B
YoY Change 17.36% 14.32%
Total Long-Term Liabilities $6.014B $5.965B
YoY Change 16.37% -0.45%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.686B $2.374B
Total Long-Term Liabilities $6.014B $5.965B
Total Liabilities $9.582B $10.27B
YoY Change 3.39% -2.49%
SHAREHOLDERS EQUITY
Retained Earnings $2.656B $2.716B
YoY Change 19.76% 16.14%
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $15.12B $15.16B
YoY Change
Total Liabilities & Shareholders Equity $24.71B $25.44B
YoY Change 16.14% 12.11%

Cashflow Statement

Concept 2024 Q2 2024 Q1
OPERATING ACTIVITIES
Net Income $9.517M $103.5M
YoY Change -114.28% -91.51%
Depreciation, Depletion And Amortization $466.0M $486.8M
YoY Change 17.77% 25.55%
Cash From Operating Activities $322.0M $1.156B
YoY Change -26.32% -30.5%
INVESTING ACTIVITIES
Capital Expenditures $558.2M $534.5M
YoY Change 14.61% 8.02%
Acquisitions
YoY Change
Other Investing Activities $246.1M -$32.68M
YoY Change 16241.63% -1022.76%
Cash From Investing Activities -$312.1M -$567.2M
YoY Change -35.72% 13.81%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net $752.1M
YoY Change 255.73%
Cash From Financing Activities -628.1M -21.44M
YoY Change -27.26% -95.68%
NET CHANGE
Cash From Operating Activities 322.0M 1.156B
Cash From Investing Activities -312.1M -567.2M
Cash From Financing Activities -628.1M -21.44M
Net Change In Cash -618.1M 567.1M
YoY Change -32.21% -15.19%
FREE CASH FLOW
Cash From Operating Activities $322.0M $1.156B
Capital Expenditures $558.2M $534.5M
Free Cash Flow -$236.1M $621.2M
YoY Change 373.21% -46.81%

Facts In Submission

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CY2024Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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CY2024Q1 us-gaap Derivative Instruments Not Designated As Hedging Instruments Gain Loss Net
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CY2024Q1 us-gaap Revenues
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CY2024Q1 eqt Maximum Additional Collateral As Percentage Of Derivative Liability
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eqt-20240331.xsd Edgar Link pending
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