Hess Earnings: Here’s Why Investors are Happy Now
Hess Corporation (NYSE:HES) delivered a profit and beat Wall Street’s expectations, BUT came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company. Shares are up 1.45%.
Hess Corporation Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased 12.21% to $1.51 in the quarter versus EPS of $1.72 in the year-earlier quarter.
Revenue: Decreased 67.65% to $3.01 billion from the year-earlier quarter.
Actual vs. Wall St. Expectations: Hess Corporation reported adjusted EPS income of $1.51 per share. By that measure, the company beat the mean analyst estimate of $1.41. It missed the average revenue estimate of $4.62 billion.
Key Stats (on next page)…
EPS decreased 22.56% from $1.95 in the previous quarter.
Looking Forward: Analysts have a more positive outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings has risen from a profit of $1.44 to a profit $1.48. For the current year, the average estimate has moved up from a profit of $6.29 to a profit of $6.43 over the last ninety days.
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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)