Energy company EOG Resources, Inc. (NYSE: EOG) has reported a decline in revenues and adjusted profit for the second quarter of 2023.
- Second-quarter profit declined to $1.55 billion or $2.66 per share from $2.24 billion or $3.81 per share in the year-ago quarter
- On an adjusted basis, June quarter net income was $2.49 per share, lower than the $2.74 per share earnings reported a year earlier
- The company posted total revenues of $5.57 billion for the June quarter, compared to $7.41 billion last year
- EOG generated $1.0 billion of free cash flow in Q2 and declared a regular quarterly dividend of $0.825 per share
- During the quarter, the company repurchased $300 million of its shares
- Total 2Q oil production of 476,600 Bopd was above the midpoint of the guidance range and up 4% from 1Q
