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Hess (HES) Reports Q2 Earnings: What Key Metrics Have to Say
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Hess (HES - Free Report) reported $2.32 billion in revenue for the quarter ended June 2023, representing a year-over-year decline of 22.4%. EPS of $0.65 for the same period compares to $2.15 a year ago.
The reported revenue represents a surprise of -3.64% over the Zacks Consensus Estimate of $2.41 billion. With the consensus EPS estimate being $0.57, the EPS surprise was +14.04%.
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.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
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: 387 KBOE/D versus the six-analyst average estimate of 359.87 KBOE/D.
Production per day - Natural gas liquids - Total United States: 69 KBBL/D versus 62.19 KBBL/D estimated by five analysts on average.
Production per day - Natural gas - Total: 610 Mcf/D compared to the 553.87 Mcf/D average estimate based on five analysts.
Production per day - Crude oil - Total: 216 KBBL/D compared to the 204.15 KBBL/D average estimate based on five analysts.
Production per day - Natural gas - United States - Offshore: 45 Mcf/D versus 35.07 Mcf/D estimated by four analysts on average.
Production per day - Natural gas - Total United States: 251 Mcf/D versus the four-analyst average estimate of 197.73 Mcf/D.
Production per day - Crude oil - Total United States: 102 KBBL/D compared to the 94.66 KBBL/D average estimate based on four analysts.
Production per day - Natural gas - United States - North Dakota: 206 Mcf/D compared to the 162.66 Mcf/D average estimate based on four analysts.
Production per day - Crude oil - United States - North Dakota: 79 KBBL/D versus 76.81 KBBL/D estimated by four analysts on average.
Production per day - Natural gas liquids - United States - Offshore: 1 KBBL/D versus 2.29 KBBL/D estimated by four analysts on average.
Revenues- Sales and other operating revenues: $2.29 billion versus $2.40 billion estimated by five analysts on average. Compared to the year-ago quarter, this number represents a -22.5% change.
Revenues- Other, net: $31 million compared to the $37.63 million average estimate based on two analysts. The reported number represents a change of +3.3% year over year.
Shares of Hess have returned +10.9% over the past month versus the Zacks S&P 500 composite's +5.1% 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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Hess (HES) Reports Q2 Earnings: What Key Metrics Have to Say
Hess (HES - Free Report) reported $2.32 billion in revenue for the quarter ended June 2023, representing a year-over-year decline of 22.4%. EPS of $0.65 for the same period compares to $2.15 a year ago.
The reported revenue represents a surprise of -3.64% over the Zacks Consensus Estimate of $2.41 billion. With the consensus EPS estimate being $0.57, the EPS surprise was +14.04%.
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.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
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: 387 KBOE/D versus the six-analyst average estimate of 359.87 KBOE/D.
- Production per day - Natural gas liquids - Total United States: 69 KBBL/D versus 62.19 KBBL/D estimated by five analysts on average.
- Production per day - Natural gas - Total: 610 Mcf/D compared to the 553.87 Mcf/D average estimate based on five analysts.
- Production per day - Crude oil - Total: 216 KBBL/D compared to the 204.15 KBBL/D average estimate based on five analysts.
- Production per day - Natural gas - United States - Offshore: 45 Mcf/D versus 35.07 Mcf/D estimated by four analysts on average.
- Production per day - Natural gas - Total United States: 251 Mcf/D versus the four-analyst average estimate of 197.73 Mcf/D.
- Production per day - Crude oil - Total United States: 102 KBBL/D compared to the 94.66 KBBL/D average estimate based on four analysts.
- Production per day - Natural gas - United States - North Dakota: 206 Mcf/D compared to the 162.66 Mcf/D average estimate based on four analysts.
- Production per day - Crude oil - United States - North Dakota: 79 KBBL/D versus 76.81 KBBL/D estimated by four analysts on average.
- Production per day - Natural gas liquids - United States - Offshore: 1 KBBL/D versus 2.29 KBBL/D estimated by four analysts on average.
- Revenues- Sales and other operating revenues: $2.29 billion versus $2.40 billion estimated by five analysts on average. Compared to the year-ago quarter, this number represents a -22.5% change.
- Revenues- Other, net: $31 million compared to the $37.63 million average estimate based on two analysts. The reported number represents a change of +3.3% year over year.
View all Key Company Metrics for Hess here>>>Shares of Hess have returned +10.9% over the past month versus the Zacks S&P 500 composite's +5.1% 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.