Q1 26 EPS
$3.41
BEAT +6.23%
Est. $3.21
Q1 26 Revenue
$6.92B
BEAT +14.14%
Est. $6.06B
vs S&P Since Q1 26
-5.2%
TRAILING MARKET
EOG -5.3% vs S&P -0.1%
Market Reaction
Did EOG Beat Earnings? Q1 2026 Results
EOG Resources kicked off 2026 with a commanding first quarter, posting adjusted earnings of $3.41 per diluted share to beat the $3.21 consensus estimate by 6.22%, while revenue of $6.92 billion topped expectations by 14.14% and climbed 18.5% from the… Read more EOG Resources kicked off 2026 with a commanding first quarter, posting adjusted earnings of $3.41 per diluted share to beat the $3.21 consensus estimate by 6.22%, while revenue of $6.92 billion topped expectations by 14.14% and climbed 18.5% from the year-ago period. The primary engine behind the results was a dramatic surge in production volumes, which jumped to 1,383.8 MBoed from 1,090.4 MBoed in Q1 2025, largely reflecting the integration of EOG's Encino acquisition completed last year. Natural gas volumes were a particular standout, rising to 3,020 MMcfd from 2,080 MMcfd, supported by improved composite realizations of $3.76 per Mcf versus $3.41 a year earlier. GAAP net income reached $1.98 billion, or $3.70 per diluted share, up from $1.46 billion in the prior-year quarter. Free cash flow of $1.49 billion and a $1.02 per share dividend underscored the company's capital discipline, while institutional investors took notice, with at least one major wealth manager substantially increasing its EOG position ahead of the report.
Key Takeaways
- • Higher production volumes driven by Encino acquisition integration
- • Crude oil and condensate volumes increased to 548.5 MBbld from 502.1 MBbld year-over-year
- • Natural gas volumes grew substantially to 3,020 MMcfd from 2,080 MMcfd year-over-year
- • NGL volumes rose to 332.1 MBbld from 241.7 MBbld year-over-year
- • Improved natural gas composite realized prices to $3.76/Mcf from $3.41/Mcf
- • Lower DD&A per Boe at $9.92 versus $10.33 in Q1 2025
- • Favorable mark-to-market gains of $113 million on financial commodity derivatives
EOG YoY Financials
Q1 2026 vs Q1 2025, source: SEC Filings
EOG Revenue by Segment
With YoY comparisons, source: SEC Filings
EOG Earnings Trends
EOG vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
EOG EPS Trend
Earnings per share: estimate vs actual
EOG Revenue Trend
Quarterly revenue: estimate vs actual
EOG Quarterly Results
5 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q1 26 BEAT | $3.21 | $3.41 | +6.23% | $6.92B | +14.14% |
| Q4 25 BEAT FY | $2.20 | $2.27 | +3.38% | $5.64B | +4.73% |
| FY Full Year | $10.10 | $10.16 | +0.57% | $22.63B | +1.13% |
| Q3 25 BEAT | $2.49 | $2.71 | +8.84% | $5.85B | +4.66% |
| Q2 25 BEAT | $2.18 | $2.32 | +6.42% | $5.48B | +0.99% |
| Q1 25 BEAT | $2.77 | $2.87 | +3.59% | $5.67B | -3.28% |