EOG Resources to announce Q1 results with revenues beating expectations, but earnings may fall short.

From Nasdaq.: 2024-05-02 22:15:24

EOG Resources (NYSE: EOG) is set to announce its Q1 fiscal results on May 3. Expect revenues to beat expectations but earnings to fall short. With Brent crude oil prices over $84, EOG remains focused on returning capital to shareholders and driving efficiency gains. The company’s strong free cash flow and low breakeven costs position it well for growth.

EOG stock has seen significant gains, outperforming the S&P 500, but with inconsistencies. Despite underperforming in 2023, EOG maintains a positive outlook. As the macroeconomic environment remains uncertain, the company’s performance in the next 12 months is still in question. EOG’s valuation aligns with the current market price, suggesting stability in the stock.

EOG is expected to report Q1 revenues slightly above estimates, with a focus on U.S. shale assets for production. However, earnings per share may marginally miss consensus estimates. The stock price estimate matches the current market price, indicating a stable valuation. Comparisons with peers provide further insights into EOG’s performance and potential growth opportunities.



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