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Hess Corporation (HES) Q4 Loss Narrower than Expected

Zacks Equity Research

Loss Narrower than Expected: An integrated energy company Hess Corporation (HES) reported fourth quarter loss per share from continuing operation (excluding special items) of 31 cents, narrower than the Zacks Consensus Estimate of 41 cents.


Hess Corporation Price and EPS Surprise

Hess Corporation Price and EPS Surprise | Hess Corporation Quote

Estimate Revision Trend & Surprise History: Investors should note that the Zacks Consensus Estimate for the quarter has seen no movement in the last seven days.

Nonetheless, Hess has an impressive earnings surprise history. Before posting Q4 earnings, the company delivered positive surprises in three of the prior four quarters. Overall, the company has a positive earnings surprise of 230.5% in the trailing four quarters.

Revenues: Hess posted revenues of $1,682 million, beating the Zacks Consensus Estimate of $1,594 million. Revenues also increased from the year-ago number of $1,291 million.  

Key Stats: Quarterly hydrocarbon production was 289 thousand barrels of oil equivalent per day, down 3.7% year over year.

Worldwide crude oil realization per barrel of $55.24 (including the impact of hedging) showed a decrease of 0.4% year over year. The average worldwide natural gas liquids selling price also decreased to $21.19 per barrel from $22.78 in the year-ago quarter.

Worldwide natural gas prices rose 30.6% year over year to $4.82 per Mcf.

Zacks Rank: Currently, Hess carries a Zacks Rank #3 (Hold) which is subject to change following the earnings announcement.

(You can see the complete list of today’s Zacks #1 Rank stocks here.)

Check back later for our full write up on this Hess Corporation earnings report later!

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