EOG Resources Tops Estimates With Q3 Revenue of $8.55 Billion, Adjusted EPS $4.87

EOG Resources (NYSE: EOG) reported third-quarter 2026 revenue of $8.55 billion, above the $7.29 billion analysts expected, and adjusted diluted earnings per share of $4.87 against the $4.45 consensus estimate, in an 8-K filed Thursday, Nov. 5, 2026.

Revenue rose about 46% from $5.85 billion a year earlier. Net income was $2.78 billion, or $5.33 per diluted share on a GAAP basis, compared with $1.47 billion, or $2.70 a share, in the third quarter of 2025. Adjusted EPS was $4.87, up from $2.71 a year earlier.

Production and prices

Total crude oil equivalent volumes averaged 1,433.1 thousand barrels of oil equivalent per day, up from 1,301.2 thousand a year earlier. Crude oil and condensate output averaged 550.4 thousand barrels per day. The average composite crude oil price was $86.72 per barrel, compared with $65.95 a year earlier, excluding derivative impacts.

Cash flow and capital returns

Net cash provided by operating activities was $3.81 billion, up from $3.11 billion a year earlier. Free cash flow, a non-GAAP measure, was $2.18 billion. EOG repurchased $1.06 billion of its common stock during the quarter and declared a dividend of $1.02 per share.

Fourth-quarter and full-year outlook

The release also included EOG's fourth-quarter and full-year 2026 forecast and benchmark commodity pricing information, which the company furnished under Item 7.01. Analysts expect fourth-quarter 2026 EPS of $4.92 and revenue of $7.63 billion, and full-year 2026 EPS of $17.98 and revenue of $30.46 billion.