EOG Resources (EOG) announced its third-quarter earnings, revealing a decline compared to the same period last year, yet surpassing Wall Street's expectations.
The company posted earnings of $1.67 billion, translating to $2.95 per share. This is a drop from last year's third-quarter earnings of $2.03 billion, or $3.48 per share.
When excluding certain items, EOG Resources disclosed adjusted earnings of $1.64 billion, equating to $2.89 per share for this period.
Analysts, according to data from Thomson Reuters, had anticipated the company's earnings per share to be $2.77, with typical industry practice excluding special items from these forecasts.
Revenue for the quarter also saw a decrease, falling by 4.0% to $5.965 billion from the previous year's $6.212 billion.
Summary of EOG Resources' Financial Performance (GAAP):
- Earnings (Q3): $1.67 billion, down from $2.03 billion in the prior year.
- EPS (Q3): $2.95, compared to $3.48 last year.
- Revenue (Q3): $5.965 billion, compared to $6.212 billion last year.
