EOG Resources Inc ( (EOG) ) has released its Q4 earnings. Here is a breakdown of the information EOG Resources Inc presented to its investors.
EOG Resources Inc. is a leading energy company engaged in the exploration, development, production, and marketing of crude oil, natural gas, and natural gas liquids, primarily operating in the United States and Trinidad.
In its latest earnings report, EOG Resources Inc. presented a mixed financial performance for the year 2024, with total operating revenues slightly decreasing to $23.7 billion compared to $24.2 billion in 2023. The company reported a net income of $6.4 billion, down from $7.6 billion the previous year, reflecting challenges in the market.
Key financial metrics showed a decline in operating income to $8.1 billion from $9.6 billion in 2023, while net income per share also decreased to $11.25 from $13.00. Despite these challenges, EOG Resources maintained a strong cash flow from operations, generating $12.1 billion in 2024, up from $11.3 billion in 2023. The company also achieved a reserve replacement ratio of 164%, indicating successful exploration and development activities.
Looking ahead, EOG Resources Inc. remains focused on optimizing its operations and capitalizing on its strategic reserves. The management is committed to maintaining a robust financial position and exploring growth opportunities in the energy sector, aiming to deliver value to its shareholders in the coming years.