EOG Resources Boosts Quarterly Dividend, Beats Views -- Earnings Review

   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 [e-mail]

(END) Dow Jones Newswires

February 27, 2018 17:25 ET (22:25 GMT)

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