Caesars Entertainment misses Q2 earnings expectations, shares edge lower
HOUSTON - EOG Resources (NYSE:EOG) reported fourth quarter earnings that beat analyst expectations, while revenue came in below estimates. EOG shares were down 1.5% in aftermarket trading following the release.
The oil and gas producer posted adjusted earnings of $2.74 per share, exceeding the consensus forecast of $2.57 per share. However, revenue of $5.6 billion missed Wall Street’s projection of $5.88 billion.
Key highlights from EOG’s Q4 results:
- Oil production averaged 494,600 barrels per day, up slightly from 493,000 barrels per day in Q3
- Natural gas production rose 6% quarter-over-quarter to 2,092 million cubic feet per day
- Generated $1.28 billion of free cash flow
- Declared quarterly dividend of $0.975 per share, up 7% year-over-year
- Repurchased $981 million of shares during the quarter
For the full year 2024, EOG reported:
- Oil production increased 3% to 491,400 barrels per day
- Generated $5.4 billion of free cash flow
- Returned $5.3 billion to shareholders through dividends and buybacks
"2024 was another year of strong execution for EOG," said Ezra Yacob, Chairman and CEO. "We improved productivity and base production performance through innovations in completion design and artificial lift automation."
EOG announced a $6.2 billion capital plan for 2025 aimed at growing oil production by 3% and total production by 6%. The company expects to drill and complete 605 net wells across its portfolio this year.
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