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Jun 30, 2025
EOG Resources Q2 2025 Earnings Report
EOG Resources reported lower Q2 revenue and earnings amid reduced commodity prices and volumes.
Key Takeaways
EOG Resources faced a challenging Q2 2025 with declines in revenue, net income, and operating income compared to the previous year. Despite the softness, the company maintained strong free cash flow and returned significant capital to shareholders.
Q2 2025 revenue reached $5.05 billion, down from $5.57 billion in Q2 2024.
GAAP EPS was $2.05; non-GAAP EPS was $2.21.
Net income was $1.18 billion with $1.35 billion in adjusted net income.
Free cash flow for the quarter totaled $833 million.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
EOG Resources updated its full-year 2025 guidance with slightly reduced production and CapEx, while maintaining strong returns to shareholders.
Positive Outlook
- Raised regular dividend to $0.91 per share annually.
- Targeting ~$6.1 billion in capital return for FY25.
- Maintains capital discipline with reduced CapEx range of $5.8B to $6.0B.
- Guides toward 2–3% production growth YoY.
- Continued investment in premium well inventory and new plays.
Challenges Ahead
- Lower realized commodity prices pressuring revenue.
- Reduction in crude oil production guidance by ~5,000 Bopd.
- International production (Trinidad) lowered due to timing delays.
- GPM margins expected to remain compressed.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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