EOG Resources Q3 Profit Decreases, but beats estimates

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

The company's earnings totaled $2.03 billion, or $3.48 per share. This compares with $2.85 billion, or $4.86 per share, in last year's third quarter.

Excluding items, EOG Resources reported adjusted earnings of $2.01 billion or $3.44 per share for the period.

Analysts on average had expected the company to earn $2.99 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 18.2% to $6.21 billion from $7.59 billion last year.

EOG Resources earnings at a glance (GAAP) :

-Earnings (Q3): $2.03 Bln. vs. $2.85 Bln. last year. -EPS (Q3): $3.48 vs. $4.86 last year. -Analyst Estimates: $2.99 -Revenue (Q3): $6.21 Bln vs. $7.59 Bln last year.