uploads/2016/07/EOG-2Q16-Pre-Revenue-1.jpg

What Can We Expect from EOG Resources’ 2Q16 Earnings?

By

Updated

EOG Resources’ 2Q16 revenue estimates

EOG Resources (EOG) is set to report its 2Q16 earnings on August 4, 2016, after the market closes. For 2Q16, Wall Street analysts expect EOG Resources to report revenues of ~$1.6 billion, which is ~37% than its 2Q15 revenues of ~$2.5 billion. However, when compared sequentially with 1Q16, EOG Resources’ 2Q16 revenues expectations are ~17% higher.

Due to the steep downward trend in energy prices, upstream companies Energen (EGN), WPX Energy (WPX), and Diamondback Energy (FANG) are expecting ~48%, ~47% and ~24% year-over-year declines in their 2Q16 revenues, respectively. The Energy Select Sector SPDR ETF (XLE) generally invests at least 95% of its total assets in oil and gas companies.

Article continues below advertisement

EOG Resources’ 2Q16 earnings per share estimates

For 2Q16, Wall Street analysts expect EOG Resources to report an adjusted EPS (earnings per share) of -$0.48, which is $0.76 lower than the 2Q15 EPS of $0.28. However, when compared sequentially with 1Q16, EOG’s 2Q16 earnings expectations are higher by $0.35 per share.

EOG Resources’ 2Q16 earnings estimates

For 2Q16, Wall Street analysts expect EOG Resources to report EBITDA (earnings before interest, tax, depreciation and amortization) of ~$629 million, which is ~38% lower than its 2Q15 adjusted EBITDA of ~$1.0 billion. However, when compared sequentially with 1Q16, EOG’s 2Q16 EBITDA expectations are ~78% higher.

In this series

In addition to analyzing EOG Resources’ 2Q16 earnings expectations, in the course of this series, we’ll also look at EOG Resources’ earnings trends, production guidance, cash flow estimates, what Wall Street analyst are saying about EOG Resources ahead of its earnings release, and how EOG’s stock price reacted to past earnings releases.

Advertisement

More From Market Realist