EOG Resources (EOG) Revenue — Quarter Ended Mar 31, 2024
Revenue for the reporting quarter declined compared to the immediately preceding quarter but rose compared to the same quarter one year earlier. The company continued to prioritize well performance improvements, operational efficiencies, and drilling inventory additions during the period.
Key takeaway
Quarter ended Mar 31, 2024 · FY2024 Q1
Revenue for the reporting quarter declined compared to the immediately preceding quarter but rose compared to the same quarter one year earlier. The company continued to prioritize well performance improvements, operational efficiencies, and drilling inventory additions during the period.
Financial snapshot
Reported revenue, sequential change, year-over-year change, and trailing four-quarter revenue.
Quarter revenue
$6.1B
Revenue reported for this quarter.
Quarter-over-quarter
-3.7%
Change from the immediately preceding quarter.
Year-over-year
+1.3%
Change from the comparable year-ago quarter.
Trailing four quarters
$24.3B
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 |
|---|---|---|
| Jun 30, 2023 | $5.6B | -24.8% |
| Sep 30, 2023 | $6.2B | -18.2% |
| Dec 31, 2023 | $6.4B | -5.4% |
| Mar 31, 2024 | $6.1B | +1.3% |
Revenue performance
The sequential decline in revenue reflects a reversal from the prior quarter's growth trajectory, while the year-over-year increase indicates ongoing expansion relative to the prior year period.
Quarterly comparison
Compared to the immediately preceding quarter, revenue decreased; compared to the same quarter one year earlier, revenue increased.
What to watch
The company's assessment of the SEC's climate-related disclosure rules and their potential impact on operations and reporting remains an area to monitor.