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)…

Revenue increased 14.41% from $3.36 billion in the previous quarter. EPS increased 16.67% from $1.80 in the previous quarter.

Looking Forward: Analysts have a more positive outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings has risen from a profit of $1.61 to a profit $1.70. For the current year, the average estimate has moved up from a profit of $6.47 to a profit of $6.97 over the last ninety days.

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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)

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