Companies /Energy

EOG Resources Inc

NYSE: EOG Oil & Gas E&p
$144.50
▼ $0.34 (−0.23%) today
Markets closed · 5:44am ET

Q1 2026 Earnings

Reported May 5, 2026, 4:18pm ET · SEC source
$3.41
Beat +6.23%
EPS · est. $3.21
$6.9B
Beat +14.14%
Revenue · est. $6.1B
+3.3%
Beating market
EOG vs S&P since report
6 quarters
Consecutive EPS beats

Market Reaction

% change · around the report
−6%−3%0May 5May 6report 4:18pm ETearnings+1.4%−5.0%
−6%−3%0May 5May 6earnings+1.4%−5.0%
EOG −5.0%S&P 500 +1.4%
−6%−3%0May 5May 6report 4:18pm ETearnings+2.2%−5.0%
−6%−3%0May 5May 6earnings+2.2%−5.0%
EOG −5.0%NASDAQ +2.2%
−6%−3%0+3%May 4May 13report 4:18pm ETearnings+2.5%−3.6%
−6%−3%0+3%May 4May 13earnings+2.5%−3.6%
EOG −3.6%S&P 500 +2.5%
−8%−4%0+4%May 4May 13report 4:18pm ETearnings+4.8%−3.6%
−8%−4%0+4%May 4May 13earnings+4.8%−3.6%
EOG −3.6%NASDAQ +4.8%
−4.35%
Day of report
−2.82%
Next session
+0.18%
One week
+4.05%
30 days

S&P 500 over the same 30 days: +0.73%.

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 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 · SEC filings Q1 2025 Q1 2026
$0$2.0B$4.0B$6.0B$5.8B$6.9BRevenue$1.9B$2.6BOperating Income$1.5B$2.0BNet Income
$0$2.0B$4.0B$6.0BRevenueOperating IncomeNet Income

EOG Revenue by Segment

Crude Oil and Condensate$3.6B+8.6%
Gathering, Processing and Marketing$1.5B+11.6%
Natural Gas$1.0B+60.3%
Natural Gas Liquids$664.0M+16.1%

Figures from SEC filings and company reports. Not investment advice.