Hess Corp Earnings: These Numbers Beat Wall Street Expectations

S&P 500 (NYSE:SPY) component Hess Corporation (NYSE:HES) reported net income above Wall Street’s expectations for the third quarter. Hess is a global integrated energy company that explores and refines crude oil and natural gas.

Earnings season is back and more important than ever. Get our newest CHEAT SHEET stock picks now

Hess Corporation Earnings Cheat Sheet

Results: Net income for the integrated oil-US rose to $557 million ($1.64 per share) vs. $298 million (88 cents per share) in the same quarter a year earlier. This marks a rise of 86.9% from the year-earlier quarter.

Revenue: Rose 10.2% to $9.62 billion from the year-earlier quarter.

Actual vs. Wall St. Expectations: Hess Corporation beat the mean analyst estimate of $1.19 per share. It beat the average revenue estimate of $8.71 billion.

Key Stats:

The company has beaten estiamtes for two quarters in a row. In the second quarter, it topped expectations with net income of $1.61 versus a mean estimate of net income of $1.38 per share.

Looking Forward: Expectations for the company’s next-quarter performance are higher than they were ninety days ago. Over the past three months, the average estimate for the fourth quarter has risen to $1.47 per share from $1.37. The average estimate for the fiscal year is $5.88 per share, a rise from $5.78 ninety days ago.

Stocks with improving earnings metrics are worthy of your extra attention. In fact, “E = Earnings Are Increasing Quarter-Over-Quarter” is a core component of our CHEAT SHEET investing framework for this very reason. Don’t waste another minute — click here and get our CHEAT SHEET stock picks now.

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

Don’t Miss These Additional Hot Stories:

Our 20-page proprietary analysis of Apple’s stock is ready. Click here and to get your Cheat Sheet report now.

Will Sirius’s Stock Still Be a Buy After the Buyout?

Is Barrick Gold a Buy After Earnings?