EQT (EQT) Company Report

Global Infrastructure Partners (GIP) and EQT are in advanced talks to jointly acquire AES Corp., with a potential agreement expected in the coming weeks.
AES’s generation portfolio spans 32 GW—approximately 50% renewable—across 15 countries, serving over 2.5 million utility customers and reporting $12.09 billion in revenue.
The company has a market capitalization of about $10.5 billion and an enterprise value of roughly $43 billion, and is exploring strategic options after prior takeover interest.
AES faces financial headwinds, including a debt-to-equity ratio of 7.98, a current ratio of 0.72, and declining operating (14.78%) and net margins (8.74%).

11 hours ago

Bloomberg

EQT reports Q4 2025 derivatives gains

EQT

Guidance Update

$114 million total gain on derivatives expected for Q4 2025
$35 million net cash settlements received on derivatives, including $44 million received on NYMEX natural gas hedges and $(9) million paid on basis and liquids hedges
$45 million of premiums paid for derivatives that settled during the period
Preliminary figures are subject to change; final amounts will be disclosed in EQT’s Form 10-K or corresponding earnings release for the period ended December 31, 2025

5 days ago

8-K

Eutelsat cancels ground segment sale to EQT

EQT

M&A

Sale cancellation: Eutelsat’s planned sale of its passive ground-segment infrastructure to EQT Infrastructure VI will not proceed as conditions for completion were not met.
Transaction value and EBITDA impact: The deal would have generated €550 million for Eutelsat, with an expected negative annualised adjusted EBITDA impact of €75–80 million.
JV structure: Under the proposal, EQT would hold 80% and Eutelsat 20% of a joint venture operating over 70 teleports across France, Italy, Madeira and Mexico.
Financial objectives: Cancellation raises projected net debt-to-EBITDA to 2.7x from 2.5x, but does not affect Eutelsat’s 2025–26 financial objectives.
Margin target revision: Eutelsat has revised its FY 2028–29 EBITDA margin target to ~65%.

5 days ago

Morningstar

EQT acquires Coller Capital to enter secondaries

EQT

M&A

New Projects/Investments

EQT will acquire UK-based Coller Capital for $3.2 billion in newly issued shares at SEK 355 per share plus up to $500 million in contingent cash, valuing the deal at about $3.7 billion.
The transaction creates “Coller EQT,” a new secondaries business led by Jeremy Coller—who joins EQT’s executive committee while retaining investment independence—and is expected to be mid-single-digit accretive to fee-related earnings.
Coller brings nearly $50 billion of total AUM (around $33 billion fee-generating), four evergreen wealth products with $4.1 billion NAV, and insurance-focused secondaries capabilities to EQT’s platform.
The deal accelerates EQT’s strategic entry into the fast-growing secondaries market (deal volumes reached $226 billion in 2025, up 41% YoY) and is expected to close in Q3 2026, subject to regulatory approvals.

Jan 22, 2026, 1:09 PM

Bloomberg

Zayo’s inaugural $1.42 billion fibre securitization named Transaction of the Year

EQT

Debt Issuance

Zayo raised $1.42 billion via its first asset-backed term notes, secured by enterprise fibre assets and long-term customer contracts in the US northeast.
The issuance was honored as IFR’s “Transaction de l’année” and Best North American ABS for 2025, marking Zayo’s debut in the securitization market.
Investor demand was exceptionally strong, with the final order book exceeding 10× the issue size.
Building on this success, Zayo completed three ABS transactions in 2025, raising $3.8 billion, and plans further issuances in 2026.

Jan 16, 2026, 8:17 PM

Press Release

EQT agrees to acquire Arlanda Express operator

EQT

M&A

New Projects/Investments

EQT Active Core Infrastructure I has agreed to acquire 100% of A-Train AB, the operator of the Arlanda Express high-speed rail link between Stockholm Central Station and Arlanda Airport.
A-Train holds a public–private partnership concession through 2050, operating the 18-minute airport connection serving the Greater Stockholm area.
EQT plans to back A-Train’s roughly SEK 3 billion investment program to introduce a new high-speed train fleet by about 2030, targeting a 50%+ increase in seat capacity and service modernization.
The deal is subject to regulatory approvals, with financial terms undisclosed, and aims to enhance customer experience, pricing flexibility, capacity utilization, partnerships, safety, and sustainability.

Dec 22, 2025, 6:38 AM

Morningstar

EQT announces partnership with 1X to deploy humanoid robots

EQT

New Projects/Investments

Strategic partnership with 1X to supply up to 10,000 humanoid robots to over 300 portfolio companies between 2026 and 2030.
Focus on high-impact use cases in logistics, plant operations, warehousing, manufacturing, and healthcare.
Pilot projects start in the U.S. in 2026, followed by rapid expansion into Europe and Asia.
Aims to give portfolio companies a first-mover advantage by leveraging 1X’s production capacity and integration expertise to boost productivity and safety.

Dec 11, 2025, 11:55 PM

Press Release

EQT announces strategic partnership with 1X for humanoid robots

EQT

New Projects/Investments

EQT and 1X will deploy up to 10,000 humanoid robots across more than 300 portfolio companies from 2026 to 2030.
The partnership targets high-impact use cases in industrial software, logistics, facilities operations, warehousing, manufacturing and healthcare to boost productivity and safety.
Initial pilot programs will launch in the U.S. in 2026, with rapid expansion planned in Europe and Asia thereafter.
EQT leverages its global operational expertise to scale 1X’s AI and robotics technology across its portfolio.

Dec 11, 2025, 11:50 PM

Press Release

EQT partners with 1X for global rollout of humanoid robots

EQT

New Projects/Investments

Product Launch

Strategic partnership between EQT and AI-robotics firm 1X to supply up to 10,000 NEO humanoid robots to EQT’s worldwide portfolio of companies between 2026 and 2030.
Deployment decisions rest with individual portfolio companies, aiming for broad commercial application across multiple sectors.
Marks the beginning of a large-scale commercial rollout of ready-to-use humanoid robots, leveraging EQT’s investment via EQT Ventures.

Dec 11, 2025, 11:35 PM

Press Release

EQT exits Colisée after creditor-led recapitalization

EQT

M&A

EQT Infrastructure V will exit Colisée as senior lenders lead a financial recapitalization plan.
Colisée’s net debt will be reduced by about one-third to €1.2 billion, with creditors assuming ownership through debt write-offs.
The provider’s adjusted EBITDA declined by 42% in 2024 due to operational and market challenges, triggering a Moody’s downgrade to Caa2.
Major lenders Blackstone and KKR imposed their own recapitalization structure over EQT’s equity proposal, with implementation expected to take several months.

Dec 8, 2025, 12:17 PM

Bloomberg

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Markets

Natural Gas Prices Explode 60% in Record Two-Day Surge as Arctic Blast Descends on U.S.

Jan 22

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Earnings Transcripts

Quarterly earnings call transcripts for EQT.

Q3 2025

Oct 22, 2025

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Q2 2025

Jul 23, 2025

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EQT (EQT)

Analyst Earnings Quarterly Reports

Q3 2025

Q2 2025

Q1 2025

Q4 2024

Q4 2025

Executives

Toby Z. Rice

Jeremy T. Knop

Richard A. Duran

Todd M. James

William E. Jordan

Board Members

Daniel J. Rice IV

Dr. Kathryn J. Jackson

Frank C. Hu

Hallie A. Vanderhider

John F. McCartney

Lee M. Canaan

Robert F. Vagt

Thomas F. Karam

Vicky A. Bailey

Analyst Coverage

Neil Mehta

Arun Jayaram

Jacob Roberts

David Deckelbaum

Devin Mcdermott

Roger Read

Scott Hanold

Betty Jiang

Doug Leggate

Josh Silverstein

Kalei Akamine

Kaleinoheaokealaula Akamine

Phillip Jungwirth

Bert Donnes

Bertrand Donnes

Bob Brackett

Douglas George Blyth Leggate

Joshua Silverstein

Noel Parks

Sam Margolin

Chen Anis

Jake Roberts

John Abbott

John Annis

John Ennis

Kevin MacCurdy

Michael Scialla

Scott Gruber

Latest news

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Natural Gas Prices Explode 60% in Record Two-Day Surge as Arctic Blast Descends on U.S.

Earnings Transcripts

Q3 2025

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