The oil producer reported adjusted earnings of $2.85 per share, exceeding estimates, though its cautious outlook pressured shares.
EOG Resources posted first-quarter adjusted earnings of $2.85 per share, surpassing analysts’ expectations of $2.68. Revenue reached $6.1 billion, up from $4.7 billion a year earlier, driven by higher oil prices and production volumes.
The company’s results outpaced the prior-year quarter, when earnings stood at $2.31 per share. However, its tepid outlook for the remainder of the year weighed on investor sentiment, overshadowing the strong quarterly performance.
Shares of EOG Resources fell in after-hours trading as markets reacted to the mixed signals, balancing strong earnings against cautious guidance.