EOG Resources (EOG) Q4 2025 Earnings
How Did EOG Stock React to Q4 2025 Earnings?
S&P 500 over the same 30 days: −8.52%.
Did EOG Beat Earnings? Q4 2025 Results
Yes. EOG Resources reported Q4 2025 earnings of $2.27 a share on Feb 24, 2026, beating the $2.20 consensus estimate by 3.4%. Revenue was $5.6B against a $5.4B estimate.
EOG Resources delivered a beat on both lines in Q4 2025, posting adjusted EPS of $2.27 against a Wall Street consensus of $2.22 — a 2.25% beat — while revenue of $5.64 billion cleared the $5.45 billion estimate by 3.44%, even as total revenue was essentially flat year-over-year, slipping just 0.2%. The headline story, however, was more complicated beneath the surface: GAAP net income tumbled to $701 million, or $1.30 per diluted share, from $1.25 billion in Q4 2024, weighed down by $506 million in after-tax impairment charges tied to Barnett Shale and Woodford Oil Window asset write-downs reflecting play-specific economics and resource reallocation. Production volumes were the quarter's genuine bright spot, with crude oil equivalent output surging to 1,399 MBoed from 1,095.7 MBoed a year earlier, a jump largely attributable to the Encino acquisition completed earlier in 2025. That volume growth was partly offset by sharply lower realized crude prices, which fell to $59.54 per barrel from $71.66 in Q4 2024, pressuring margins even as analysts with Buy ratings on the stock maintained a constructive long-term view.
- Production volume growth driven by Encino acquisition integration, with total crude oil equivalent volumes rising to 1,399.0 MBoed in Q4 2025 from 1,095.7 MBoed in Q4 2024
- Lower realized crude oil prices ($59.54/Bbl composite in Q4 2025 vs $71.66/Bbl in Q4 2024) pressured revenue
- Higher natural gas volumes (3,065 MMcfd in Q4 2025 vs 2,092 MMcfd in Q4 2024) partially offset price declines
- Improved operating unit costs with cash operating costs (non-GAAP) declining to $10.09/Boe for FY 2025
- Significant impairments of $689 million in Q4 2025 related to Barnett Shale and Woodford Oil Window assets
EOG YoY Financials
| Metric | Q4 2025 | Q4 2024 | Year over year |
|---|---|---|---|
| Revenue | $5.6B | $5.6B | −0.2% |
| Operating Income | $943.0M | $1.6B | −40.8% |
| Net Income | $701.0M | $1.3B | −44.0% |
EOG Revenue by Segment
Figures from SEC filings and company reports. Not investment advice.