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Hess (HES) Q3 Earnings: Taking a Look at Key Metrics Versus Estimates
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Hess (HES - Free Report) reported $2.84 billion in revenue for the quarter ended September 2023, representing a year-over-year decline of 10.1%. EPS of $1.64 for the same period compares to $1.89 a year ago.
The reported revenue represents a surprise of +9.88% over the Zacks Consensus Estimate of $2.58 billion. With the consensus EPS estimate being $1.24, the EPS surprise was +32.26%.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
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: 395 KBOE/D versus the seven-analyst average estimate of 384.18 KBOE/D.
Production per day - Crude oil - Total: 221 thousands of barrels of oil versus 214.28 thousands of barrels of oil estimated by six analysts on average.
Production per day - Natural gas - Total: 615 Mcf/D versus 598.96 Mcf/D estimated by six analysts on average.
Production per day - Natural gas liquids - Total United States: 71 thousands of barrels of oil versus 69.84 thousands of barrels of oil estimated by six analysts on average.
Production per day - Natural gas - United States - Offshore: 37 Mcf/D versus the five-analyst average estimate of 38.19 Mcf/D.
Production per day - Natural gas - United States - North Dakota: 195 Mcf/D versus 203.96 Mcf/D estimated by five analysts on average.
Production per day - Natural gas liquids - United States - Offshore: 1 thousands of barrels of oil versus the five-analyst average estimate of 1.89 thousands of barrels of oil.
Production per day - Natural gas liquids - United States - North Dakota: 70 thousands of barrels of oil compared to the 69.13 thousands of barrels of oil average estimate based on five analysts.
Production per day - Crude oil - United States - North Dakota: 87 thousands of barrels of oil compared to the 82.8 thousands of barrels of oil average estimate based on five analysts.
Production per day - Crude oil - United States - Offshore: 21 thousands of barrels of oil versus the five-analyst average estimate of 20.18 thousands of barrels of oil.
Revenues- Sales and other operating revenues: $2.80 billion versus $2.61 billion estimated by four analysts on average. Compared to the year-ago quarter, this number represents a -10.3% change.
Revenues- Other, net: $35 million versus $30.10 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a 0% change.
Shares of Hess have returned +2.1% over the past month versus the Zacks S&P 500 composite's -1.6% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.
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Hess (HES) Q3 Earnings: Taking a Look at Key Metrics Versus Estimates
Hess (HES - Free Report) reported $2.84 billion in revenue for the quarter ended September 2023, representing a year-over-year decline of 10.1%. EPS of $1.64 for the same period compares to $1.89 a year ago.
The reported revenue represents a surprise of +9.88% over the Zacks Consensus Estimate of $2.58 billion. With the consensus EPS estimate being $1.24, the EPS surprise was +32.26%.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
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: 395 KBOE/D versus the seven-analyst average estimate of 384.18 KBOE/D.
- Production per day - Crude oil - Total: 221 thousands of barrels of oil versus 214.28 thousands of barrels of oil estimated by six analysts on average.
- Production per day - Natural gas - Total: 615 Mcf/D versus 598.96 Mcf/D estimated by six analysts on average.
- Production per day - Natural gas liquids - Total United States: 71 thousands of barrels of oil versus 69.84 thousands of barrels of oil estimated by six analysts on average.
- Production per day - Natural gas - United States - Offshore: 37 Mcf/D versus the five-analyst average estimate of 38.19 Mcf/D.
- Production per day - Natural gas - United States - North Dakota: 195 Mcf/D versus 203.96 Mcf/D estimated by five analysts on average.
- Production per day - Natural gas liquids - United States - Offshore: 1 thousands of barrels of oil versus the five-analyst average estimate of 1.89 thousands of barrels of oil.
- Production per day - Natural gas liquids - United States - North Dakota: 70 thousands of barrels of oil compared to the 69.13 thousands of barrels of oil average estimate based on five analysts.
- Production per day - Crude oil - United States - North Dakota: 87 thousands of barrels of oil compared to the 82.8 thousands of barrels of oil average estimate based on five analysts.
- Production per day - Crude oil - United States - Offshore: 21 thousands of barrels of oil versus the five-analyst average estimate of 20.18 thousands of barrels of oil.
- Revenues- Sales and other operating revenues: $2.80 billion versus $2.61 billion estimated by four analysts on average. Compared to the year-ago quarter, this number represents a -10.3% change.
- Revenues- Other, net: $35 million versus $30.10 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a 0% change.
View all Key Company Metrics for Hess here>>>Shares of Hess have returned +2.1% over the past month versus the Zacks S&P 500 composite's -1.6% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.