Hess Corp Earnings: Profit Streak Snapped by a Loss

S&P 500 (NYSE:SPY) component Hess Corporation (NYSE:HES) swung to a loss in the fourth quarter, missing analysts’ forecast. Hess is a global integrated energy company that explores and refines crude oil and natural gas.

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Hess Earnings Cheat Sheet for the Fourth Quarter

Results: Reported a loss of $131 million (39 cents per diluted share) in the quarter. Hess Corporation had a net income of $58 million or 18 cents per share in the year earlier quarter.

Revenue: Rose 8.1% to $9.73 billion from the year earlier quarter.

Actual vs. Wall St. Expectations: HES fell short of the mean analyst estimate of $1.34 per share. It beat the average revenue estimate of $8.6 billion.

Key Stats:

The company has now missed analyst estimates for the last four quarters. It fell short by 29 cents in the third quarter, by 19 cents in the second quarter, and by 3 cents in the first quarter.

The company’s loss in the latest quarter follows profits in the previous three quarters. The company reported a profit of $298 million in the third quarter, a profit of $607 million in the second quarter and $929 million in the first.

Looking Forward: Analysts appear increasingly negative about the company’s results for the next quarter. The average estimate for the first quarter of the next fiscal year has moved down from $1.72 a share to $1.62 over the last thirty days. At $6.06 per share, the average estimate for the fiscal year has fallen from $6.64 ninety days ago.

Competitors to Watch: Chevron Corporation (NYSE:CVX), Exxon Mobil Corporation (NYSE:XOM), Marathon Oil Corporation (NYSE:MRO), ConocoPhillips (NYSE:COP), BP plc (NYSE:BP), TOTAL S.A. (NYSE:TOT), Occidental Petroleum Corp. (NYSE:OXY), and China Petroleum & Chemical Corp. (NYSE:SNP).

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(Company fundamentals provided by Xignite Financials. Earnings estimates provided by Zacks)