EOG Resources Earnings: Here’s Why the Stock is Rising Now
EOG Resources, Inc. (NYSE:EOG) delivered a profit and met 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 3.34%.
EOG Resources, Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 0% to $1.17 in the quarter versus EPS of $1.17 in the year-earlier quarter.
Revenue: Rose 19.59% to $3.36 billion from the year-earlier quarter.
Actual vs. Wall St. Expectations: EOG Resources, Inc. reported adjusted EPS income of $1.17 per share. By that measure, the company missed the mean analyst estimate of $1.17. It beat the average revenue estimate of $3.04 billion.
Quoting Management: “During the first quarter, EOG met its goal of again delivering strong financial performance and highly competitive overall returns,” said Mark G. Papa, Chairman and Chief Executive Officer.
Key Stats (on next page)…
Revenue increased 11.44% from $3.01 billion in the previous quarter. EPS decreased 27.33% from $1.61 in the previous quarter.
Looking Forward: Analysts have a more negative outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings has fallen from a profit of $1.42 to a profit $1.34. For the current year, the average estimate has moved down from a profit of $6.32 to a profit of $5.96 over the last ninety days.
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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)