Income Statement
Quarterly Data
The income statement presents information on the financial results of a company business activities over a period of time. The income statement communicates how much revenue the company generated during a period and what cost it incurred in connection with generating that revenue.
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- Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
- Enterprise Value (EV)
- Price to FCFE (P/FCFE)
- Present Value of Free Cash Flow to Equity (FCFE)
- Selected Financial Data since 2005
- Net Profit Margin since 2005
- Current Ratio since 2005
- Price to Operating Profit (P/OP) since 2005
- Analysis of Revenues
- Aggregate Accruals
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EOG Resources Inc., consolidated income statement (quarterly data)
US$ in thousands
Based on: 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31), 10-K (reporting date: 2017-12-31), 10-Q (reporting date: 2017-09-30), 10-Q (reporting date: 2017-06-30), 10-Q (reporting date: 2017-03-31), 10-K (reporting date: 2016-12-31), 10-Q (reporting date: 2016-09-30), 10-Q (reporting date: 2016-06-30), 10-Q (reporting date: 2016-03-31), 10-K (reporting date: 2015-12-31), 10-Q (reporting date: 2015-09-30), 10-Q (reporting date: 2015-06-30), 10-Q (reporting date: 2015-03-31).
- Revenue Trends
- The total operating revenues and other income demonstrate a generally increasing trajectory from 2015 through 2018, peaking significantly in the fourth quarter of 2018 before declining slightly in early 2019. Crude oil and condensate revenues show a notable recovery from the depressed figures in 2016, substantially climbing through 2017 and reaching a high in late 2018, following a similar pattern for natural gas liquids and natural gas revenues. The fluctuation in gains and losses on commodity derivative contracts exhibits considerable volatility, with substantial negative and positive spikes that merit attention for risk management strategies.
- Cost Patterns
- Operating costs, including lease and well expenses, transportation costs, and gathering and processing costs, exhibit variability but generally increase over the period, particularly in the latter half of the timeline. Lease and well expenses increase after 2017, suggesting higher operational expenditure or expansion efforts. Marketing costs follow a similar upward trend, aligning with the growth in revenues but adding pressure on margins. Depreciation, depletion, and amortization expenses remain consistently high and slightly increasing, reflecting extensive capital assets and ongoing asset utilization. General and administrative costs also trend upward, with occasional reductions that may indicate periodic cost controls or efficiencies.
- Profitability and Income Analysis
- Gross profit experiences a steady increase across most quarters, with a pronounced raise especially from 2017 onward, indicating improved margins on operating revenues. However, operating income fluctuates greatly, with substantial losses in 2015 and early 2016, transitioning to positive and growing operating incomes through 2017 and 2018, supporting evidence of enhanced operational efficiency and possibly favorable market conditions. The net income figures mirror this pattern, moving from significant losses in 2015 and 2016 to positive net earnings from 2017 onward, reaching peak values in late 2017 and 2018. Income tax provision was unusually high and variable, with large credits in some quarters that correspond with significant net losses.
- Exploration and Impairment Costs
- Exploration costs are relatively stable but show a slight uptick in some quarters of 2018 and 2019, indicating ongoing investment in resource identification. Dry hole costs fluctuate without a clear trend, suggesting episodic exploration failures or write-offs. Impairments highlight a significant charge in late 2015, dwarfing other quarters and affecting overall profitability for that period. Subsequent impairment charges persist but at lower levels, reflecting ongoing asset reevaluations amid changing market conditions.
- Other Income and Expense Items
- Other income and expense items, while relatively minor compared to core operational figures, exhibit some variability. Gains and losses on asset dispositions are irregular but with several notable positive impacts, especially in late 2016 and late 2018, contributing ancillary earnings. The item labeled "Other, net" stays mostly positive and generally increases toward the end of the examined period, potentially reflecting diverse non-operational gains or cost recoveries.
- Overall Financial Health and Trends
- The financial data indicates a recovery phase beginning in 2017 after a difficult period in 2015 and 2016, with improvements in revenues, profits, and net income. Rising expenses across several categories imply increased operational scale or cost pressures, but these are largely outweighed by revenue growth, resulting in better profitability metrics. The substantial volatility in derivative contract gains and impairment charges present financial risk areas requiring ongoing monitoring. The tax provision fluctuations correlate with income variability, affecting cash flow and net income outcomes. Overall, the data suggests strengthening financial performance with pockets of operational and financial risk to manage.