EOG Resources (EOG) Revenue — Quarter Ended Jun 30, 2023
Revenue for the reporting quarter declined compared to both the prior quarter and the same quarter a year earlier. The sequential decrease was more moderate than the year-over-year drop.
Key takeaway
Quarter ended Jun 30, 2023 · FY2023 Q2
Revenue for the reporting quarter declined compared to both the prior quarter and the same quarter a year earlier. The sequential decrease was more moderate than the year-over-year drop.
Financial snapshot
Reported revenue, sequential change, year-over-year change, and trailing four-quarter revenue.
Quarter revenue
$5.6B
Revenue reported for this quarter.
Quarter-over-quarter
-7.8%
Change from the immediately preceding quarter.
Year-over-year
-24.8%
Change from the comparable year-ago quarter.
Trailing four quarters
$25.9B
Sum of the latest four reported quarters.
Quarterly revenue trend
The latest four reported quarters with year-over-year comparisons.
| Period ended | Revenue | Year-over-year change |
|---|---|---|
| Sep 30, 2022 | $7.6B | +59.3% |
| Dec 31, 2022 | $6.7B | +11.2% |
| Mar 31, 2023 | $6B | +51.7% |
| Jun 30, 2023 | $5.6B | -24.8% |
Revenue performance
The reported revenue moved lower, continuing the downward trajectory observed in the trailing year. The rate of decline from the previous quarter was less severe than the retreat from the year-ago period.
Quarterly comparison
Compared with the immediately preceding quarter, revenue decreased. Against the same quarter one year earlier, revenue also declined and by a wider margin.
What to watch
Monitor whether the company's ongoing focus on drilling efficiencies and cost mitigation can stabilize revenue trends.