EOG Resources Earnings: Here’s Why Investors Like These Results
EOG Resources, Inc. (NYSE:EOG) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are up 4.84%.
EOG Resources, Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 81.03% to $2.10 in the quarter versus EPS of $1.16 in the year-earlier quarter.
Revenue: Rose 32% to $3.84 billion from the year-earlier quarter.
Actual vs. Wall St. Expectations: EOG Resources, Inc. reported adjusted EPS income of $2.10 per share. By that measure, the company beat the mean analyst estimate of $1.73. It beat the average revenue estimate of $3.54 billion.
Quoting Management: “EOG has captured premier positions in key U.S. onshore oil plays – the South Texas Eagle Ford, North Dakota Bakken and Delaware Basin, and we continue to enhance their profitability,” said Mark G. Papa, Executive Chairman of the Board. “EOG’s financial metrics reflect the superior quality of these assets, as well as our technical acumen in improving well completion design and our ongoing focus on reducing costs.”
Key Stats (on next page)…