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Here's What Key Metrics Tell Us About Hess (HES) Q1 Earnings
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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.
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.
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Here's What Key Metrics Tell Us About Hess (HES) Q1 Earnings
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.