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Tuesday, August 16, 2022

EOG Resources reports 1Q loss

HOUSTON (AP) _ EOG Resources Inc. (EOG) on Thursday reported a loss of $ 471.8 million in its first quarter.

On a per-share basis, the Houston-based company said it had a loss of 86 cents. Losses, adjusted for non-recurring costs, came to 83 cents per share.

The results beat Wall Street expectations. The average estimate of 13 analysts surveyed by Zacks Investment Research was for a loss of 87 cents per share.

The oil and gas company posted revenue of $ 1.35 billion in the period, which did not meet Street forecasts. Three analysts surveyed by Zacks expected $ 1.56 billion.

EOG Resources shares have increased 15 percent since the beginning of the year, while the Standard & Poor’s 500 index has stayed nearly flat. In the final minutes of trading on Thursday, shares hit $ 81.26, a fall of 14 percent in the last 12 months.

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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 http://www.zacks.com/ap/EOG

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Keywords: EOG Resources, Earnings Report

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