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Energy EOG Resources: 2Q Earnings Snapshot

EOG Resources: 2Q Earnings Snapshot

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HOUSTON (AP) _ EOG Resources Inc. (EOG) on Thursday reported a second-quarter loss of $909.4 million, after reporting a profit in the same period a year earlier.


The Houston-based company said it had a loss of $1.57 per share. Losses, adjusted for non-recurring costs, were 23 cents per share.
The results missed Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for a loss of 14 cents per share.


The oil and gas company posted revenue of $1.1 billion in the period, which also missed Street forecasts. Five analysts surveyed by Zacks expected $2.32 billion.
EOG Resources shares have decreased 39% since the beginning of the year, while the Standard & Poor’s 500 index has risen almost 4%. In the final minutes of trading on Thursday, shares hit $50.89, a decline of 35% in the last 12 months.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on EOG at https://www.zacks.com/ap/EOG

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