EOG Resources Boosts Quarterly Dividend, Beats Views -- Earnings Review
February 27 2018 - 5:40PM
Dow Jones News
By Maria Armental
EOG Resources Inc. (EOG) reported fourth-quarter results on
Tuesday and raised its quarterly dividend, returning payouts to
pre-oil-crash levels. Here's what you need to know:
EARNINGS: The Houston-based shale driller swung to a
fourth-quarter profit of $2.43 billion, or $4.20 a share, compared
with a year-earlier loss of $142.4 million, or 25 cents a share.
Excluding the impact of the U.S. tax overhaul and other items, it
reported a profit of 69 cents a share, compared with a loss of a
penny a share a year earlier. Analysts surveyed by Thomson Reuters
expected an adjusted profit of 53 cents a share.
TAX LAW: Recent tax-law changes resulted in a benefit of about
$2.2 billion, or $3.75 a share, in the most recent quarter.
REVENUE: Net operating revenue rose 39% to $3.34 billion,
beating analysts' estimates of $3.06 billion.
EXPENSES: Operating expenses rose 14% to $2.86 billion.
DIVIDEND: EOG raised its quarterly dividend to 18.5 cents a
share, a 10.4% increase that returns the quarterly payouts to
pre-oil-crash levels. The first payout will be made on April 30 to
stockholders of record as of April 16.
STOCK: Shares, up 9% over the past 12 months, fell 5.8% to
$100.79 in after-hours trading.
Write to Maria Armental at maria.armental@wsj.com
(END) Dow Jones Newswires
February 27, 2018 17:25 ET (22:25 GMT)
Copyright (c) 2018 Dow Jones & Company, Inc.
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