For the quarter ended March 2023, Hess (HES - Free Report) reported revenue of $2.45 billion, up 3.5% over the same period last year. EPS came in at $1.13, compared to $1.30 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $2.48 billion, representing a surprise of -0.96%. The company delivered an EPS surprise of +9.71%, with the consensus EPS estimate being $1.03.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Hess performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Barrels of oil equivalent: 374 KBOE/D versus the four-analyst average estimate of 349.95 KBOE/D.
- Production per day - Natural gas - Total: 574 Mcf/D versus the four-analyst average estimate of 568.65 Mcf/D.
- Production per day - Natural gas liquids - Total United States: 62 KBBL/D compared to the 57.24 KBBL/D average estimate based on four analysts.
- Production per day - Natural gas - United States - North Dakota: 158 Mcf/D versus the three-analyst average estimate of 158.29 Mcf/D.
- Production per day - Natural gas - United States - Offshore: 47 Mcf/D compared to the 45.67 Mcf/D average estimate based on three analysts.
- Average selling price - crude oil (including hedging) - Worldwide: $74.23 versus the three-analyst average estimate of $79.14.
- Average selling price - natural gas - Worldwide: $4.39 per thousand cubic feet compared to the $3.61 per thousand cubic feet average estimate based on three analysts.
- Average selling price - crude oil (excluding hedging) - Total United States: $71.65 compared to the $74.50 average estimate based on three analysts.
- Average selling price - natural gas - Total United States: $2.51 versus $2.89 estimated by three analysts on average.
- Production per day - Crude oil - Total: 216 KBBL/D compared to the 196.69 KBBL/D average estimate based on three analysts.
- Production per day - Crude oil - Total United States: 100 KBBL/D versus the three-analyst average estimate of 94.72 KBBL/D.
- Revenues- Sales and other operating revenues: $2.41 billion versus $2.18 billion estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +4.2% change.
View all Key Company Metrics for Hess here>>>Shares of Hess have returned +8.9% over the past month versus the Zacks S&P 500 composite's +2.6% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
Research Chief Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
This company targets millennial and Gen Z audiences, generating nearly $1 billion in revenue last quarter alone. A recent pullback makes now an ideal time to jump aboard. Of course, all our elite picks aren’t winners but this one could far surpass earlier Zacks’ Stocks Set to Double like Nano-X Imaging which shot up +129.6% in little more than 9 months.
Free: See Our Top Stock And 4 Runners Up
For the quarter ended March 2023, Hess (HES - Free Report) reported revenue of $2.45 billion, up 3.5% over the same period last year. EPS came in at $1.13, compared to $1.30 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $2.48 billion, representing a surprise of -0.96%. The company delivered an EPS surprise of +9.71%, with the consensus EPS estimate being $1.03.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Hess performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Barrels of oil equivalent: 374 KBOE/D versus the four-analyst average estimate of 349.95 KBOE/D.
- Production per day - Natural gas - Total: 574 Mcf/D versus the four-analyst average estimate of 568.65 Mcf/D.
- Production per day - Natural gas liquids - Total United States: 62 KBBL/D compared to the 57.24 KBBL/D average estimate based on four analysts.
- Production per day - Natural gas - United States - North Dakota: 158 Mcf/D versus the three-analyst average estimate of 158.29 Mcf/D.
- Production per day - Natural gas - United States - Offshore: 47 Mcf/D compared to the 45.67 Mcf/D average estimate based on three analysts.
- Average selling price - crude oil (including hedging) - Worldwide: $74.23 versus the three-analyst average estimate of $79.14.
- Average selling price - natural gas - Worldwide: $4.39 per thousand cubic feet compared to the $3.61 per thousand cubic feet average estimate based on three analysts.
- Average selling price - crude oil (excluding hedging) - Total United States: $71.65 compared to the $74.50 average estimate based on three analysts.
- Average selling price - natural gas - Total United States: $2.51 versus $2.89 estimated by three analysts on average.
- Production per day - Crude oil - Total: 216 KBBL/D compared to the 196.69 KBBL/D average estimate based on three analysts.
- Production per day - Crude oil - Total United States: 100 KBBL/D versus the three-analyst average estimate of 94.72 KBBL/D.
- Revenues- Sales and other operating revenues: $2.41 billion versus $2.18 billion estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +4.2% change.
View all Key Company Metrics for Hess here>>>Shares of Hess have returned +8.9% over the past month versus the Zacks S&P 500 composite's +2.6% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
Research Chief Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
This company targets millennial and Gen Z audiences, generating nearly $1 billion in revenue last quarter alone. A recent pullback makes now an ideal time to jump aboard. Of course, all our elite picks aren’t winners but this one could far surpass earlier Zacks’ Stocks Set to Double like Nano-X Imaging which shot up +129.6% in little more than 9 months.
Free: See Our Top Stock And 4 Runners Up
Get the latest research report on HES - FREE