Key Takeaways
- EQT Corp (EQT) exceeded Q2 2025 adjusted earnings per share (EPS) estimates, reporting $0.45 against an estimated $0.42, alongside robust sales volumes and reaffirmed full-year guidance.
- Chubb (CB) delivered a strong Q2 2025 with a favorable Property & Casualty (P&C) combined ratio of 85.6% and a higher-than-expected book value per share of $174.07, despite slight misses on premium figures.
- SAP (SAP) reported Q2 2025 cloud and total revenues slightly below analyst expectations but maintained its full-year non-IFRS cloud revenue and operating profit guidance.
- Energy markets reacted to the latest API data, which indicated a draw in crude and gasoline inventories but a notable build in distillates.
- Constructive trade discussions are ongoing between Japan and the United States, with both nations working to resolve issues under the pressure of an impending tariff deadline.
Corporate Earnings Round-Up: EQT, Chubb, and SAP
The second quarter 2025 earnings season continues to unfold with key reports from major players in energy, insurance, and software. EQT Corp (EQT), a leading natural gas producer, announced adjusted EPS of $0.45, surpassing the estimated $0.42. The company reported Q2 sales volume of 568 BCFE and provided full-year sales volume guidance of 2,300 to 2,400 BCFE, signaling a confident outlook for the remainder of 2025. EQT also adjusted its full-year capital expenditure (Capex) guidance to $2.30 billion to $2.45 billion, aligning closely with analyst expectations, and indicated a reduction in its 2025 unit operating expenses.
In the insurance sector, Chubb (CB) posted Q2 2025 results that highlighted operational strength. While net premiums written and earned slightly missed estimates at $14.20 billion and $13.13 billion respectively, the company's P&C combined ratio stood strong at 85.6%, outperforming the estimated 85.7%. Investors are likely to view the robust book value per share of $174.07, which exceeded the $172.81 estimate, as a positive indicator of the company's financial health and asset management. Total investments also saw a healthy increase, rising 3.9% quarter-over-quarter to $158.31 billion.
German software giant SAP (SAP) reported its Q2 2025 earnings, with cloud revenue reaching €5.13 billion against an estimated €5.17 billion. Cloud and software revenue totaled €7.97 billion, slightly below the €7.99 billion estimate, and total revenue came in at €9.03 billion compared to an estimated €9.07 billion. Despite these slight misses, SAP reaffirmed its full-year non-IFRS cloud revenue guidance of €21.6 billion–€21.9 billion and non-IFRS operating profit guidance of €10.3 billion–€10.6 billion, suggesting confidence in its long-term growth trajectory.
Market Insights: Energy Inventories and International Trade
The latest American Petroleum Institute (API) data provided fresh insights into the energy market. Crude oil inventories saw a draw of 0.577 million barrels, while gasoline inventories also decreased by 1.228 million barrels. This suggests continued demand for these key refined products. However, Cushing crude stocks increased by 0.314 million barrels, and distillate inventories experienced a significant build of 3.480 million barrels, indicating potential shifts in refinery output or demand for industrial fuels.
On the international trade front, Japan and the United States are actively engaged in constructive trade talks. These discussions are taking place under the looming pressure of a tariff deadline, highlighting the urgency for both nations to reach mutually beneficial agreements. The ongoing dialogue aims to address trade imbalances and foster stronger economic ties between the two major global economies.
Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications.