EOG Resources (EOG) Revenue — Quarter Ended Sep 30, 2024
Revenue for the quarter declined compared to both the prior quarter and the same period last year. The sequential decrease was modest, while the year-over-year drop was more pronounced.
Key takeaway
Quarter ended Sep 30, 2024 · FY2024 Q3
Revenue for the quarter declined compared to both the prior quarter and the same period last year. The sequential decrease was modest, while the year-over-year drop was more pronounced.
Financial snapshot
Reported revenue, sequential change, year-over-year change, and trailing four-quarter revenue.
Quarter revenue
$6B
Revenue reported for this quarter.
Quarter-over-quarter
-1.0%
Change from the immediately preceding quarter.
Year-over-year
-4.0%
Change from the comparable year-ago quarter.
Trailing four quarters
$24.5B
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 |
|---|---|---|
| Dec 31, 2023 | $6.4B | -5.4% |
| Mar 31, 2024 | $6.1B | +1.3% |
| Jun 30, 2024 | $6B | +8.1% |
| Sep 30, 2024 | $6B | -4.0% |
Revenue performance
The reported revenue moved lower from the preceding quarter, reflecting a slight contraction. Compared to the same quarter a year earlier, the decline was steeper, indicating a weaker performance relative to the prior year.
Quarterly comparison
Revenue in the current quarter was down from the immediately preceding quarter and also fell from the same quarter one year ago. The sequential change was smaller in magnitude than the year-over-year change.
What to watch
The filing notes ongoing focus on improving well performance and operating efficiencies, which may influence future revenue trends.