EOG Resources’ second-quarter revenue estimates
For the second quarter, Wall Street analysts expect EOG Resources (EOG) to report revenue of ~$3.91 billion. On a YoY (year-over-year) basis, EOG’s second-quarter revenue expectations are ~50% higher than its revenue of ~$2.61 billion in the second quarter of 2017.
Sequentially, EOG Resources’ second-quarter revenue expectations are ~6% higher than its first-quarter revenue of ~$3.68 billion.
In the second quarter, EOG Resources’ production is expected to increase ~14% compared to the second quarter of 2017. We’ll take a closer look at EOG’s production in the next article.
EOG’s expected YoY revenue growth in the second quarter can be attributed to the expected YoY rise in its second-quarter production coupled with higher crude oil prices in the quarter.
EOG’s peers Encana (ECA), Occidental Petroleum (OXY), Energen (EGN), and California Resources (CRC) are expected to report YoY rises of ~10%, ~16%, ~32%, and ~16%, respectively, in their second-quarter revenues.
In the next article, we’ll take a look at EOG’s production guidance.