Hess Earnings: Beats Wall Street Expectations
S&P 500 (NYSE:SPY) component Hess Corporation (NYSE:HES) reported net income above Wall Street’s expectations for the first quarter. Hess Corporation is a global integrated energy company that explores and refines crude oil and natural gas.
Hess Earnings Cheat Sheet for the First Quarter
Results: Net income for Hess Corporation rose to $929 million ($2.74/share) vs. $538 million ($1.65/share) in the same quarter a year earlier. A rise of 72.7% from the year earlier quarter.
Revenue: Rose 13.6% to $10.52 billion YoY.
Actual vs. Wall St. Expectations: HES beat the mean analyst estimate of $1.87/share. Estimates ranged from $1.43 per share to $2.16 per share.
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).
Today’s Performance: Shares of HES are trading at $84.50 as of April 27, 2011 at 9:15 AM ET, up 4.75% from the previous close.