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EOG Resources (EOG) Reports Q4 Earnings: What Key Metrics Have to Say
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EOG Resources (EOG - Free Report) reported $6.36 billion in revenue for the quarter ended December 2023, representing a year-over-year decline of 5.4%. EPS of $3.07 for the same period compares to $3.30 a year ago.
The reported revenue represents a surprise of +3.05% over the Zacks Consensus Estimate of $6.17 billion. With the consensus EPS estimate being $3.14, the EPS surprise was -2.23%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
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:
Crude Oil Equivalent Volumes per day - Total: 1026.2 millions of barrels of oil equivalent versus the 10-analyst average estimate of 1019.52 millions of barrels of oil equivalent.
Natural Gas Volumes per day - Total: 1831 millions of cubic feet versus 1794.96 millions of cubic feet estimated by nine analysts on average.
Crude Oil and Condensate Volumes per day - Total: 485.2 millions of barrels of oil compared to the 485.79 millions of barrels of oil average estimate based on nine analysts.
Natural Gas Liquids Volumes per day - Total: 235.8 millions of barrels of oil versus the nine-analyst average estimate of 235.17 millions of barrels of oil.
Average Crude Oil and Condensate Prices per bbl - United States: $80.61 versus $82.05 estimated by six analysts on average.
Total Production: 94.4 MBOE versus 93.8 MBOE estimated by six analysts on average.
Average Natural Gas Liquids Prices per bbl - Composite: $22.29 compared to the $22.31 average estimate based on six analysts.
Revenues- Natural gas: $476 million versus the five-analyst average estimate of $516.53 million. The reported number represents a year-over-year change of -42.7%.
Revenues- Crude Oil and Condensate: $3.60 billion versus the four-analyst average estimate of $3.66 billion. The reported number represents a year-over-year change of -2%.
Revenues- Natural Gas Liquids: $484 million versus $482.59 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a -2.6% change.
Revenues- Gathering, Processing and Marketing: $1.47 billion versus the four-analyst average estimate of $1.59 billion. The reported number represents a year-over-year change of -1.6%.
Revenues- Other, Net: $29 million versus $23.98 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +52.6% change.
Shares of EOG Resources have returned +3.8% over the past month versus the Zacks S&P 500 composite's +3.1% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.
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EOG Resources (EOG) Reports Q4 Earnings: What Key Metrics Have to Say
EOG Resources (EOG - Free Report) reported $6.36 billion in revenue for the quarter ended December 2023, representing a year-over-year decline of 5.4%. EPS of $3.07 for the same period compares to $3.30 a year ago.
The reported revenue represents a surprise of +3.05% over the Zacks Consensus Estimate of $6.17 billion. With the consensus EPS estimate being $3.14, the EPS surprise was -2.23%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
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:
- Crude Oil Equivalent Volumes per day - Total: 1026.2 millions of barrels of oil equivalent versus the 10-analyst average estimate of 1019.52 millions of barrels of oil equivalent.
- Natural Gas Volumes per day - Total: 1831 millions of cubic feet versus 1794.96 millions of cubic feet estimated by nine analysts on average.
- Crude Oil and Condensate Volumes per day - Total: 485.2 millions of barrels of oil compared to the 485.79 millions of barrels of oil average estimate based on nine analysts.
- Natural Gas Liquids Volumes per day - Total: 235.8 millions of barrels of oil versus the nine-analyst average estimate of 235.17 millions of barrels of oil.
- Average Crude Oil and Condensate Prices per bbl - United States: $80.61 versus $82.05 estimated by six analysts on average.
- Total Production: 94.4 MBOE versus 93.8 MBOE estimated by six analysts on average.
- Average Natural Gas Liquids Prices per bbl - Composite: $22.29 compared to the $22.31 average estimate based on six analysts.
- Revenues- Natural gas: $476 million versus the five-analyst average estimate of $516.53 million. The reported number represents a year-over-year change of -42.7%.
- Revenues- Crude Oil and Condensate: $3.60 billion versus the four-analyst average estimate of $3.66 billion. The reported number represents a year-over-year change of -2%.
- Revenues- Natural Gas Liquids: $484 million versus $482.59 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a -2.6% change.
- Revenues- Gathering, Processing and Marketing: $1.47 billion versus the four-analyst average estimate of $1.59 billion. The reported number represents a year-over-year change of -1.6%.
- Revenues- Other, Net: $29 million versus $23.98 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +52.6% change.
View all Key Company Metrics for EOG Resources here>>>Shares of EOG Resources have returned +3.8% over the past month versus the Zacks S&P 500 composite's +3.1% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.