EOG Resources Reveals 98% Decline In Q3 Bottom Line

(RTTNews) - EOG Resources (EOG) revealed a profit for third quarter that declined from last year.

The company said its bottom line dropped to $13.51 million, or $0.02 per share. This was down from $720.62 million, or $1.31 per share, in last year's third quarter.

Analysts had expected the company to earn -$0.30 per share, according figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company said revenue for the quarter fell 57.6% to $2.17 billion. This was down from $5.12 billion last year.

EOG Resources earnings at a glance:

-Earnings (Q3): $13.51 Mln. vs. $720.62 Mln. last year. -Earnings Decline (Y-o-Y): -98.1% -EPS (Q3): $0.02 vs. $1.31 last year. -EPS Decline (Y-o-Y): -98.5% -Analysts Estimate: -$0.30 -Revenue (Q3): $2.17 Bln vs. $5.12 Bln last year. -Revenue Change (Y-o-Y): -57.6%