FX.co ★ EOG Resources Q2 Profit Increases, Beats Estimates

EOG Resources (EOG) reported an increase in second-quarter profits compared to the previous year, surpassing Wall Street expectations.

The company's net income totaled $1.690 billion, or $2.95 per share, up from $1.553 billion, or $2.66 per share, in the second quarter of last year.

Excluding certain items, EOG Resources posted adjusted earnings of $1.807 billion, or $3.16 per share for the quarter.

Analysts, on average, had projected earnings of $2.96 per share, based on data from Thomson Reuters. Typically, analysts' estimates do not account for special items.

The company’s revenue for the quarter increased by 8.1% to $6.025 billion, compared to $5.573 billion in the same period last year.

Summary of EOG Resources' earnings (GAAP):

- Earnings (Q2): $1.690 billion vs. $1.553 billion last year.

- EPS (Q2): $2.95 vs. $2.66 last year.

- Revenue (Q2): $6.025 billion vs. $5.573 billion last year.