EOG Resources Beats Big on the Bottom Line

Oil and gas producer EOG Resources (NYSE: EOG  ) reported third-quarter results today after the markets closed, showing that it posted net revenues of $3.54 billion, a robust 20% increase from the same period in the previous year, but below the $3.86 billion Capital IQ consensus estimate.

While adjusted net income came in at $634.3 million, or $2.32 per share, well ahead of the $468.7 million, or $1.73 per share, in the same period in 2012, it was also $0.27-per-share better than the CapIQ estimates of $2.05 per share.

EOG Resources says it benefited from increased production of its U.S. crude oil and condensate, which rose by 41%, and total company crude oil and condensate production, which was up 39% in the quarter.

The oil and gas producer beefed up its full year crude oil and condensate production growth target to 39% from 35%, the second time this year its done so, but analysts anticipate EOG Resources will post earnings of $2.06 per share in the fourth quarter on revenues of $4.66 billion.


Read/Post Comments (0) | Recommend This Article (3)

Comments from our Foolish Readers

Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment Report this Comment icon found on every comment.

Be the first one to comment on this article.

DocumentId: 2716244, ~/Articles/ArticleHandler.aspx, 7/28/2014 1:48:11 PM

Report This Comment

Use this area to report a comment that you believe is in violation of the community guidelines. Our team will review the entry and take any appropriate action.

Sending report...

Today's Market

updated Moments ago Sponsored by:
DOW 16,973.41 12.84 0.08%
S&P 500 1,980.12 1.78 0.09%
NASD 4,445.97 -3.60 -0.08%

Create My Watchlist

Go to My Watchlist

You don't seem to be following any stocks yet!

Better investing starts with a watchlist. Now you can create a personalized watchlist and get immediate access to the personalized information you need to make successful investing decisions.

Data delayed up to 5 minutes

Related Tickers

7/28/2014 1:32 PM
EOG $113.64 Down -1.18 -1.03%
EOG Resources, Inc… CAPS Rating: *****

Advertisement