EOG Resources raises quarterly dividend 8 per cent after strong cash generation
EOG Resources reported third-quarter net income of 2.781 billion dollars and free cash flow of 2.176 billion dollars alongside higher oil-equivalent production. The oil and gas company increased its regular quarterly dividend by 8 per cent to 1.10 dollars per share. It also spent approximately 1 billion dollars repurchasing shares during the quarter.
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Third-quarter results accompany higher production
EOG Resources, a US oil and gas producer, announced third-quarter results alongside increased production.[1], [2]
Revenue was 8,549 million dollars and net income reached 2,781 million dollars. Diluted earnings per share were 5.33 dollars. Adjusted net income was 2,540 million dollars, equivalent to adjusted earnings of 4.87 dollars per share. The adjusted earnings figures use the company’s separately defined measures outside generally accepted accounting principles.[1]
Operating cash supports free cash flow
Operating cash generation was 3,813 million dollars. After adjustments including working capital, the company’s operating cash measure was 3,773 million dollars. Capital expenditure totalled 1,597 million dollars, leaving free cash flow of 2,176 million dollars. Total oil-equivalent production increased from its level a year earlier. Cash operating costs were 10.49 dollars per barrel of oil equivalent, against 10.50 dollars previously.[1]
Regular dividend increases 8 per cent
The board increased the regular quarterly dividend by 8 per cent to 1.10 dollars per share. Payment is scheduled for January 29, 2027, to shareholders registered on January 15, 2027. EOG repurchased approximately 7 million shares for about 1 billion dollars during the quarter. Remaining repurchase authorisation was 10.6 billion dollars. Quarter-end cash was 5,747 million dollars, with total debt of 7,922 million dollars.[1]
