Hess Q4 Adj. EPS $1.63 Beats $1.44 Estimate, Sales $3.04B Beat $2.59B Estimate
Portfolio Pulse from Benzinga Newsdesk
Hess Corporation (NYSE:HES) reported Q4 adjusted earnings of $1.63 per share, surpassing the consensus estimate of $1.44 by 13.19%. However, this represents a 8.43% decrease from the previous year's earnings of $1.78 per share. Quarterly sales reached $3.04 billion, exceeding estimates of $2.59 billion by 17.18%, but marking a slight 0.62% drop from the previous year's $3.05 billion.
January 31, 2024 | 12:36 pm
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Hess Corporation exceeded Q4 EPS and sales estimates, indicating strong performance despite a slight year-over-year decline in both metrics.
Beating both earnings and sales estimates typically has a positive impact on investor sentiment and can lead to a short-term increase in stock price. Although there is a year-over-year decrease, the fact that Hess outperformed expectations is likely to be the focus for short-term investors.
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