Energy company EOG Resources, Inc. (NYSE: EOG) has announced results for the second quarter of FY25, reporting a decline in revenues and adjusted profit.
- Earnings, on an adjusted basis, were $1.3 billion or $2.32 per share in Q2, vs. $1.81 billion or $3.16 per share last year
- Unadjusted profit was $1.35 billion or $2.46 per share, compared to $1.69 billion or $2.95 per share in Q2 2024
- Second-quarter revenues decreased to $5.48 billion from $6.03 billion in the corresponding quarter last year
- The company generated $1.0 billion of free cash flow during the quarter; it paid $528 million in dividends and repurchased $600 million of shares
- Total oil production was 504,200 Bopd in Q2, above the midpoint of the guidance range and up from 1Q
- NGL production was above the midpoint of the guidance range and up 7% from the first quarter
- Natural gas production came in above the midpoint of the guidance range, growing 7% sequentially
- The management expects total capital expenditures for fiscal 2025 to range from $6.2 billion to $6.4 billion
- It sees full-year average oil production of 521 MBod and average total production of 1,224 MBoed
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