EOG Resources has released its earnings for the first quarter. Despite experiencing a decrease from the previous year, the company's earnings surpassed the Street's estimates. The earnings for the quarter totaled $1.79 billion or $3.10 per share, in contrast to last year's first quarter earnings of $2.02 billion or $3.45 per share.
However, once special items are excluded, EOG Resources reported adjusted earnings of $1.63 billion or $2.82 per share. This exceeded analysts' average expectations of the company earning $2.70 per share, according to Thomson Reuters' compiled data. It should be noted that analysts' estimates generally do not consider the impact of special items.
Meanwhile, the company's quarterly revenue showed an improvement, experiencing a 1.3% rise to $6.12 billion from last year's $6.04 billion.
Reviewing the company's financials, EOG Resources recorded $1.79 billion in earnings for the first quarter, down from $2.02 billion in the same period last year. Earnings per share (EPS) followed a similar trend, reducing from $3.45 last year to $3.10. However, when it comes to revenue, there was an increase; the first quarter had an income of $6.12 billion compared to last year's $6.04 billion.
