EOG Resources Q4 2024 Earnings Report
Key Takeaways
EOG Resources posted Q4 2024 revenue of $5.59 billion, a decline from $6.36 billion in Q4 2023. Net income was $1.25 billion, down from $1.99 billion in the prior year. Adjusted non-GAAP EPS stood at $2.74, while GAAP EPS was $2.23. The company reported crude oil production of 494.6 MBod, and total crude oil equivalent volumes of 1,095.7 MBoed. Free cash flow was $1.28 billion, and the company returned nearly $1.5 billion to shareholders through dividends and share repurchases.
Revenue declined 12.1% year-over-year to $5.59 billion.
Net income decreased 37.1% to $1.25 billion.
Crude oil production increased to 494.6 MBod, up 1.9% from Q4 2023.
Declared quarterly dividend of $0.975 per share and repurchased $981 million in stock.
EOG Resources Revenue
EOG Resources EPS
EOG Resources Revenue by Segment
EOG Resources Revenue by Geographic Location
Forward Guidance
EOG Resources expects moderate production growth in 2025, with an increased focus on cost efficiency and shareholder returns. The company plans to increase capital expenditures to support higher oil production and infrastructure investments.
Positive Outlook
- Targeting 3% oil volume growth and 6% total production growth.
- Capital expenditures planned at $6.2 billion for 2025.
- Continued expansion in the Utica and Dorado plays.
- Improved well productivity expected to lower operating costs.
- Strong balance sheet supports increased share repurchases and dividends.
Challenges Ahead
- Crude oil price volatility may impact profitability.
- Higher capital spending may weigh on near-term free cash flow.
- Natural gas market weakness could affect realized prices.
- Macroeconomic uncertainty may slow energy demand.
- Increased regulatory and environmental compliance costs.
Revenue & Expenses
Visualization of income flow from segment revenue to net income