EOG - EOG Q1 results - solid earnings improved shareholder return framework

EOG (EOG) released Q1 results after the close Thursday, beating Street earnings estimates and posting solid free cash flow, while providing a new shareholder return framework:  Earnings - the company generated $4.00 in adjusted net income per share during the quarter, versus Street expectations for $3.69. Cash flow - management delivered $2.4b of free cash flow, or 3.5% of the market cap, during Q1. Capital allocation - the board announced a base-plus-special dividend of $2.55 (8.3% yield) and committed to returning 60% of free cash flow to shareholders annually. Guide - management flagged sequential improvement in production into Q2, after beating the midpoint of Q1 guidance on production and capex; annual guidance was unchanged. Thursday's results showcase EOG's (EOG) best-in-class management. While posting strong results, and showing sequential improvement in the business, the company is also putting a firm framework around shareholder returns. It's not the cheapest stock in the

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EOG Q1 results - solid earnings, improved shareholder return framework