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EOG Resources Full Year 2023 Earnings: Beats Expectations

EOG Resources (NYSE:EOG) Full Year 2023 Results

Key Financial Results

  • Revenue: US$24.2b (down 18% from FY 2022).

  • Net income: US$7.59b (down 2.1% from FY 2022).

  • Profit margin: 31% (up from 26% in FY 2022). The increase in margin was driven by lower expenses.

  • EPS: US$13.07 (down from US$13.31 in FY 2022).

earnings-and-revenue-growth
earnings-and-revenue-growth

All figures shown in the chart above are for the trailing 12 month (TTM) period

EOG Resources Revenues and Earnings Beat Expectations

Revenue exceeded analyst estimates by 2.1%. Earnings per share (EPS) also surpassed analyst estimates by 1.1%.

Looking ahead, revenue is forecast to grow 3.6% p.a. on average during the next 3 years, compared to a 1.5% growth forecast for the Oil and Gas industry in the US.

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Performance of the American Oil and Gas industry.

The company's shares are down 1.5% from a week ago.

Valuation

It's possible that EOG Resources could be undervalued with our 6-factor valuation analysis indicating a potential opportunity. Click here to find out what a fair price for the stock might be and where analysts see the share price heading over the next year.

Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.

This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.