EOG Q3 FY2026: revenue up 46.2%, EPS $5.33 on higher oil prices
EOG's Q3 FY2026 was a price-driven blowout: revenue rose 46.2% to $8.55 billion and GAAP EPS nearly doubled to $5.33, with $2.18 billion of free cash flow and net debt at 6.2% of total capitalisation. Read the $0.46 gap between GAAP EPS and adjusted EPS of $4.87 as one-off asset-sale and derivative gains, and read the volume line (up 10.1%) as the real, more modest, engine.
1 · Expected vs. Actual
Free preview belowDiluted GAAP EPS was $5.33, up 97.4% from $2.70, while adjusted EPS came in at $4.87. The $0.46 gap is mostly $242 million of gains on asset dispositions ($0.37 a share) plus mark-to-market derivative gains, net of small derivative settlement income. Even the adjusted figure is nearly double last year's $2.71, so the quarter is strong without the one-offs.
Revenue of $8.55 billion rose 46.2% from $5.85 billion a year earlier and came in roughly flat against Q2's $8.62 billion. Price did most of the work: crude oil equivalent volumes rose 10.1% to 131.8 million barrels, while composite revenue per barrel went from $38.05 to $48.05. Crude oil and condensate delivered $4.39 billion versus $3.24 billion a year ago, but that line fell $0.51 billion from Q2 as oil realisations slipped from $98.15 to $86.72 a barrel.
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Figures on this page come from the company's original SEC filings. The analysis is generated automatically and checked against validation rules, but may still contain errors or omissions. Not investment advice. · Generated 2026-11-05
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