EOG Resources Q1 Profit Decreases, but beats estimates

(RTTNews) - EOG Resources (EOG) released earnings for first quarter that decreased from last year but beat the Street estimates.

The company's earnings totaled $1.79 billion, or $3.10 per share. This compares with $2.02 billion, or $3.45 per share, in last year's first quarter.

Excluding items, EOG Resources reported adjusted earnings of $1.63 billion or $2.82 per share for the period.

Analysts on average had expected the company to earn $2.70 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 1.3% to $6.12 billion from $6.04 billion last year.

EOG Resources earnings at a glance (GAAP) :

-Earnings (Q1): $1.79 Bln. vs. $2.02 Bln. last year. -EPS (Q1): $3.10 vs. $3.45 last year. -Revenue (Q1): $6.12 Bln vs. $6.04 Bln last year.