Hess Corporation Earnings Cheat Sheet: Misses Estimates

S&P 500 (NYSE:SPY) component Hess Corporation (NYSE:HES) reported its results for the third quarter. 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 Third Quarter

Results: Net income for the oil and gas refining and marketing company fell to $298 million (88 cents per share) vs. $1.15 billion ($3.52 per share) a year earlier. This is a decline of 74.2% from the year earlier quarter.

Revenue: Rose 10.2% to $8.66 billion from the year earlier quarter.

Actual vs. Wall St. Expectations: HES fell short of the mean analyst estimate of $1.41 per share. It fell short of the average revenue estimate of $9.68 billion.

Key Stats:

The company has now missed analyst estimates for the last four quarters. It fell short by 19 cents in the second quarter, by 3 cents in the first quarter, and by 2 cents in the fourth quarter of the last fiscal year.

Revenue has risen the past four quarters. Revenue increased 27.5% to $9.86 billion in the second quarter. The figure rose 14.1% in the first quarter from the year earlier and climbed 4.5% in the fourth quarter of the last fiscal year from the year-ago quarter.

Last quarter’s profit decrease breaks a streak of two consecutive quarters of year-over-year profit increases. Net income rose 61.9% in the second quarter and 72.7% in the first quarter.

Looking Forward: The outlook for the company’s results in the upcoming quarter is unfavorable. The average estimate for the fourth quarter is $1.57 per share, down from $1.86 ninety days ago. At $6.66 per share, the average estimate for the fiscal year has fallen from $7.41 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), Repsol YPF, S.A. (REPYY), Occidental Petroleum Corp. (NYSE:OXY), and China Petroleum & Chemical Corp. (NYSE:SNP).

Investing Insights: Here’s Why Chipotle’s Stock Keeps Winning.

(Source: Xignite Financials)