EQT Corporation EQT is an integrated energy company that focuses on natural gas supply activities in the Appalachian area, including production and gathering, natural gas distribution and transmission as well as energy efficiency solutions, primarily in the eastern and western coastal regions of the United States. EQT conducts its operations in two segments EQT Production and EQT Midstream.However, the ongoing oil price slump has impacted the company’s activity levels. This is reflected in the consensus estimate that has moved down in the last few months. In the last four trailing quarters, EQT Corp has reported a positive average earnings surprise of 72.19%, missing the estimate once.Currently, EQT Corp has a Zacks Rank #3 (Hold) but that could change following its first quarter 2016 earnings report which has just released. We have highlighted some of the key details from the just-released announcement below: Earnings: EQT Corp beats earnings. Earnings per share from continuing operations (excluding special items) came in at 7 cents per share, which compared favourably with the Zacks Consensus Estimate of loss of 5 cents. Revenue: Net operating revenues of $545.1 million came above the Zacks Consensus Estimate of $529 million.Key Stats: EQT Production's first quarter operating revenue decreased 19.8% year over year to $473.1 million in spite of an increase in average daily sales volume by nearly 22.6%.Operating loss was $11.3 million, as compared to income of $185.8 million in 1Q15.Under the EQT Midstream segment, net operating revenues increased 7.9% year over year to $224.7 million, owing to 13.1% growth in gathered volumes. Net transmission revenues increased 10%. Net storage, marketing and other operating revenues were $8.6 million, representing an increase of 17.8%.Operating income jumped 9.41% year over year to $141.9 million in the reported quarter. Check back later for our full write up on this EQT Corp earnings report later!Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >> Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report EQT CORP (EQT): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research