EOG Resources (EOG) Q4 2025 Financial Results Summary

EOG Resources released its financial results for the fourth quarter of 2025 on [release date]. The following summary outlines the company’s performance metrics, highlighting significant changes compared to the same quarter a year ago.

Financial Performance Overview

• Total Revenues:
  • Q4 2025: $5,638 million
  • Q4 2024: $5,585 million
  • Year-over-year growth: 0.95%
• Operating Expenses:
  • Q4 2025: $4,695 million
  • Q4 2024: $3,993 million
  • Year-over-year growth: 17.61%
• Operating Income:
  • Q4 2025: $943 million
  • Q4 2024: $1,592 million
  • Year-over-year decrease: 40.79%
• Net Income:
  • Q4 2025: $701 million
  • Q4 2024: $1,251 million
  • Year-over-year decrease: 43.87%
• Net Income per Share (Diluted):
  • Q4 2025: $1.30
  • Q4 2024: $2.23
  • Year-over-year decrease: 41.64%
• Adjusted Net Income (Non-GAAP):
  • Q4 2025: $1,222 million
  • Q4 2024: $1,535 million
  • Year-over-year decrease: 20.35%
• Adjusted Net Income per Share:
  • Q4 2025: $2.27
  • Q4 2024: $2.74
  • Year-over-year decrease: 18.16%
• Free Cash Flow:
  • Q4 2025: $978 million
  • Q4 2024: $1,277 million
  • Year-over-year decrease: 23.49%

Production Metrics

• Crude Oil Equivalent Volumes:
  • Q4 2025: 128.7 MMBoe
  • Q4 2024: 100.8 MMBoe
  • Year-over-year growth: 27.72%
• Total Cash Operating Costs per Boe:
  • Q4 2025: $10.28
  • Q4 2024: $10.52
  • Year-over-year decrease: 2.28%

Additional Information

Dividends Declared

• Quarterly Dividend:
  • EOG declared a dividend of $1.0200 per common share for Q4 2025, compared to $0.9750 in Q4 2024, marking an increase of 4.62%.

Share Repurchases

• Share Repurchases:
  • EOG did not repurchase any shares in Q4 2025.

Conclusion

EOG Resources reported a mixed set of financial results for Q4 2025, showing growth in revenue and production volume, but significant reductions in net income and earnings per share compared to the previous year. The company successfully increased its quarterly dividend, reflecting confidence in its cash flow generation despite challenges in profitability metrics.

Note: The amounts in the following tables are in thousands/millions.

CONDENSED CONSOLIDATED STATEMENTS OF INCOME	In millions of USD, except share data
2024	2025
1st Qtr	2nd Qtr
3rd Qtr	4th Qtr
Year	1st Qtr
2nd Qtr	3rd Qtr
4th Qtr	Year

CONDENSED CONSOLIDATED BALANCE SHEETS	In millions of USD
2024	2025
MAR	JUN
SEP	DEC
MAR	JUN
SEP	DEC