EOG Resources Full Year 2024 Earnings: Misses Expectations

EOG Resources (NYSE:EOG) Full Year 2024 Results

Key Financial Results

• Revenue: US$23.5b (flat on FY 2023).
• Net income: US$6.40b (down 16% from FY 2023).
• Profit margin: 27% (down from 33% in FY 2023).
• EPS: US$11.31 (down from US$13.07 in FY 2023).

EOG Production and Reserves

Oil reserves

• Proven reserves: 1870 MMbbls.

Gas reserves

• Proven reserves: 9122 Bcf.

LNG reserves

• Proven reserves: 1358 MMbbls.

Combined production

• Oil equivalent production: 388.7 MMboe (359.4 MMboe in FY 2023).

All figures shown in the chart above are for the trailing 12 month (TTM) period

EOG Resources Revenues and Earnings Miss Expectations

Revenue missed analyst estimates by 1.1%. Earnings per share (EPS) also missed analyst estimates by 3.4%.

The primary driver behind last 12 months revenue was the United States segment contributing a total revenue of US$23.2b (99% of total revenue). The largest operating expense was Depreciation & Amortisation (D&A) costs, amounting to US$4.11b (51% of total expenses). Explore how EOG's revenue and expenses shape its earnings.

Looking ahead, revenue is forecast to grow 3.8% p.a. on average during the next 3 years, compared to a 4.1% growth forecast for the Oil and Gas industry in the US.

Performance of the American Oil and Gas industry.

The company's shares are down 7.0% from a week ago.

Risk Analysis

What about risks? Every company has them, and we've spotted 2 warning signs for EOG Resources (of which 1 doesn't sit too well with us!) you should know about.

Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.

This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.