EOG Resources reported a sharp rise in third-quarter profit on Thursday, with net income climbing 89% to $2.78 billion as record production and firmer commodity prices powered the US shale producer past Wall Street expectations, Zacks reported.

Adjusted earnings came in at $4.87 per share, up from $2.71 a year earlier and ahead of the $4.45 consensus estimate. Revenue rose 46.2% year on year to $8.55 billion, beating the $7.54 billion analysts had expected. Diluted earnings per share reached $5.33, against $2.70 in the same quarter of 2025.

Total oil-equivalent output hit a record 1,433.1 thousand barrels a day, up 10.1% on a year earlier, with record volumes of oil, natural gas liquids and natural gas. The gains were driven by both higher volumes and stronger realised prices across the company's shale portfolio in the Delaware Basin. The company generated $2.18 billion in free cash flow and ended September with $5.75 billion in cash, up from $3.40 billion at the end of 2025.

EOG also raised its regular dividend by 8% and bought back $1 billion of its own shares during the quarter. For the final quarter of 2026 it forecast total oil-equivalent production of between 1,385.5 and 1,432.0 thousand barrels a day. Shares rose about 2% on Friday following the results.