EOG Resources Inc

Latest Results (17.12.2024):

Revenue and Net Income

EOG Resources Inc. reported total revenue of $5,965 million for the third quarter of 2024. The company achieved a net income of $1,673 million, translating to a net income per share of $2.95. This performance reflects a slight decrease in revenue compared to the previous quarter, but the net income remained stable.

Free Cash Flow and Capital Expenditures

During the third quarter of 2024, EOG Resources Inc. generated $1.5 billion in free cash flow. The company incurred capital expenditures amounting to $1,573 million. This strong free cash flow generation underscores EOG's ability to maintain robust financial health while investing in its operations.

Dividend Increase and Share Repurchases

EOG Resources Inc. announced a 7% increase in its regular quarterly dividend, raising it to $0.975 per share, which indicates an annual rate of $3.90 per share. Additionally, the company repurchased $758 million worth of shares during the quarter, bringing the year-to-date total to $2.2 billion as of September 30, 2024.

Production Volumes

In the third quarter of 2024, EOG Resources Inc. reported total crude oil equivalent production of 1,075.7 MBoed. This includes crude oil and condensate production of 493.0 MBod, natural gas liquids production of 254.3 MBbld, and natural gas production of 1,970 MMcfd. These figures exceeded the company's guidance midpoints, reflecting strong operational performance.

Financial Outlook and Strategic Initiatives

EOG Resources Inc. remains committed to returning capital to shareholders, with plans to return more than 85% of its expected full-year free cash flow. The company also announced a $5 billion increase in its share repurchase authorization, providing flexibility for additional cash returns. EOG continues to focus on optimizing its capital structure and maintaining a strong balance sheet.