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EOG Resources (EOG) Q1 Earnings: How Key Metrics Compare to Wall Street Estimates
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EOG Resources (EOG - Free Report) reported $6.04 billion in revenue for the quarter ended March 2023, representing a year-over-year increase of 51.7%. EPS of $2.69 for the same period compares to $4.00 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $5.53 billion, representing a surprise of +9.28%. The company delivered an EPS surprise of +11.16%, with the consensus EPS estimate being $2.42.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how EOG Resources performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Total Production per day (Crude Oil Equivalent Volumes): 943 MBOE/D compared to the 923.9 MBOE/D average estimate based on eight analysts.
Average Daily Production Volumes - Natural gas: 1639 MMcf/D compared to the 1579.01 MMcf/D average estimate based on eight analysts.
Average Daily Production Volumes - NGLs: 212.2 MBBL/D versus the eight-analyst average estimate of 205.26 MBBL/D.
Average Daily Production Volumes - Crude Oil and Condensate: 457.7 MBBL/D versus 455.58 MBBL/D estimated by seven analysts on average.
Average Crude Oil and Condensate Prices per bbl - Composite: $77.26 compared to the $77.19 average estimate based on five analysts.
Average Natural Gas Liquids Prices per bbl - Composite: $25.67 versus the five-analyst average estimate of $24.89.
Average Natural Gas Prices per mcf - United States: $3.47 versus $3.63 estimated by five analysts on average.
Revenues- Natural gas: $517 million versus $676.69 million estimated by five analysts on average. Compared to the year-ago quarter, this number represents a -27.8% change.
Revenues- Crude Oil and Condensate: $3.18 billion compared to the $3.36 billion average estimate based on four analysts. The reported number represents a change of -18.2% year over year.
Revenues- Natural Gas Liquids: $490 million compared to the $470.43 million average estimate based on four analysts. The reported number represents a change of -28.1% year over year.
Revenues- Gathering, Processing and Marketing: $1.39 billion versus $1.37 billion estimated by four analysts on average. Compared to the year-ago quarter, this number represents a -5.4% change.
Revenues- Other, Net: $20 million compared to the $23.97 million average estimate based on three analysts. The reported number represents a change of -13% year over year.
Shares of EOG Resources have returned -7.8% over the past month versus the Zacks S&P 500 composite's -0.7% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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EOG Resources (EOG) Q1 Earnings: How Key Metrics Compare to Wall Street Estimates
EOG Resources (EOG - Free Report) reported $6.04 billion in revenue for the quarter ended March 2023, representing a year-over-year increase of 51.7%. EPS of $2.69 for the same period compares to $4.00 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $5.53 billion, representing a surprise of +9.28%. The company delivered an EPS surprise of +11.16%, with the consensus EPS estimate being $2.42.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how EOG Resources performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Total Production per day (Crude Oil Equivalent Volumes): 943 MBOE/D compared to the 923.9 MBOE/D average estimate based on eight analysts.
- Average Daily Production Volumes - Natural gas: 1639 MMcf/D compared to the 1579.01 MMcf/D average estimate based on eight analysts.
- Average Daily Production Volumes - NGLs: 212.2 MBBL/D versus the eight-analyst average estimate of 205.26 MBBL/D.
- Average Daily Production Volumes - Crude Oil and Condensate: 457.7 MBBL/D versus 455.58 MBBL/D estimated by seven analysts on average.
- Average Crude Oil and Condensate Prices per bbl - Composite: $77.26 compared to the $77.19 average estimate based on five analysts.
- Average Natural Gas Liquids Prices per bbl - Composite: $25.67 versus the five-analyst average estimate of $24.89.
- Average Natural Gas Prices per mcf - United States: $3.47 versus $3.63 estimated by five analysts on average.
- Revenues- Natural gas: $517 million versus $676.69 million estimated by five analysts on average. Compared to the year-ago quarter, this number represents a -27.8% change.
- Revenues- Crude Oil and Condensate: $3.18 billion compared to the $3.36 billion average estimate based on four analysts. The reported number represents a change of -18.2% year over year.
- Revenues- Natural Gas Liquids: $490 million compared to the $470.43 million average estimate based on four analysts. The reported number represents a change of -28.1% year over year.
- Revenues- Gathering, Processing and Marketing: $1.39 billion versus $1.37 billion estimated by four analysts on average. Compared to the year-ago quarter, this number represents a -5.4% change.
- Revenues- Other, Net: $20 million compared to the $23.97 million average estimate based on three analysts. The reported number represents a change of -13% year over year.
View all Key Company Metrics for EOG Resources here>>>Shares of EOG Resources have returned -7.8% over the past month versus the Zacks S&P 500 composite's -0.7% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.