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EOG Resources Q1 Profit Decreases, but beats estimates

EOG Resources (EOG) released a profit for first quarter that decreased from the same period last year but beat the Street estimates.

The company's earnings totaled $390 million, or $0.67 per share. This compares with $677 million, or $1.16 per share, in last year's first quarter.

Excluding items, EOG Resources reported adjusted earnings of $2.35 billion or $4.00 per share for the period.

Analysts on average had expected the company to earn $3.72 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 7.9% to $3.98 billion from $3.69 billion last year.

EOG Resources earnings at a glance (GAAP) :

-Earnings (Q1): $390 Mln. vs. $677 Mln. last year.
-EPS (Q1): $0.67 vs. $1.16 last year.
-Analyst Estimates: $3.72
-Revenue (Q1): $3.98 Bln vs. $3.69 Bln last year.

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