EOG Resources — Third Quarter 2026 Earnings Summary

Financial Performance:

• Total operating revenues for Q3 2026 were $8,549 million, compared to $5,847 million in Q3 2025.
• Net income for Q3 2026 was $2,781 million, compared to $1,471 million in Q3 2025.
• Diluted earnings per share (EPS) for Q3 2026 were $5.33, compared to $2.70 in Q3 2025.
• Adjusted Net Income (Non-GAAP) for Q3 2026 was $2,540 million, with diluted Adjusted EPS of $4.87.
• Net cash provided by operating activities for Q3 2026 was $3,813 million, compared to $3,111 million in Q3 2025.
• Cash and cash equivalents at the end of Q3 2026 were $5,747 million.
• Total debt (current and long-term) was $7,922 million ($28 million current portion, $7,894 million long-term) as of September 30, 2026.
• Stockholders' equity was $33,101 million as of September 30, 2026.

Guidance and Future Outlook:

• No forward guidance, future growth targets, or long-term goals were provided in the press release.

Business Segments and Product Lines:

• Crude oil and condensate volumes averaged 550.4 MBod in Q3 2026, compared to 534.5 MBod in Q3 2025.
• Natural gas liquids (NGL) volumes averaged 357.1 MBbld in Q3 2026.
• Natural gas volumes averaged 3,153 MMcfd in Q3 2026, compared to 2,745 MMcfd in Q3 2025.
• Total crude oil equivalent (COE) volumes averaged 1,433.1 MBoed in Q3 2026, compared to 1,301.2 MBoed in Q3 2025.
• Composite average realized prices for crude oil and condensate were $86.72 per barrel in Q3 2026, compared to $65.95 in Q3 2025.
• Composite average realized prices for NGLs were $26.13 per barrel in Q3 2026, compared to $21.25 in Q3 2025.
• Composite average realized prices for natural gas were $3.74 per Mcf in Q3 2026, compared to $2.80 in Q3 2025.
• Total capital expenditures (Additions to Oil and Gas Properties and Other Property, Plant and Equipment) were $1,597 million in Q3 2026.
• Acquisition of Encino Acquisition Partners, LLC occurred in Q3 2025 for $4,464 million; no acquisitions were reported in Q3 2026.

Market and Competitive Landscape:

• No specific market trends, competition details, or market share data were provided in the press release.

Risks and Challenges:

• No specific risks or challenges were detailed in the press release.

Management Commentary and Tone:

• No management commentary, quotes, or tone analysis was included in the press release.

Analyst Questions and Answers:

• No analyst questions and answers were included in the press release.

Other Key Points:

• Dividends declared per common share for Q3 2026 were $1.0200.
• Treasury stock purchased in Q3 2026 totaled $1,063 million.
• Gains on asset dispositions, net, were $242 million in Q3 2026.
• Impairments were $24 million in Q3 2026, compared to $71 million in Q3 2025.
• The company reconciles GAAP financial measures to Non-GAAP measures including Adjusted Net Income, Adjusted Cash Flow from Operations, and Free Cash Flow.
• Adjustments to Net Income for Q3 2026 included eliminating mark-to-market derivative gains ($105 million), adding cash settlements from derivatives ($40 million), and deducting gains on asset dispositions ($242 million).