EOG Resources Q2 Profit Decreases, but beats estimates

(RTTNews) - EOG Resources (EOG) reported earnings for second quarter that decreased from the same period last year but beat the Street estimates.

The company's bottom line came in at $1.55 billion, or $2.66 per share. This compares with $2.24 billion, or $3.81 per share, in last year's second quarter.

Excluding items, EOG Resources reported adjusted earnings of $1.46 billion or $2.49 per share for the period.

Analysts on average had expected the company to earn $2.32 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 24.8% to $5.57 billion from $7.41 billion last year.

EOG Resources earnings at a glance (GAAP) :

-Earnings (Q2): $1.55 Bln. vs. $2.24 Bln. last year. -EPS (Q2): $2.66 vs. $3.81 last year. -Analyst Estimates: $2.32 -Revenue (Q2): $5.57 Bln vs. $7.41 Bln last year.