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Hess: 2Q Earnings Snapshot

July 31, 2019

NEW YORK (AP) _ Hess Corp. (HES) on Wednesday reported a loss of $6 million in its second quarter.

On a per-share basis, the New York-based company said it had a loss of 2 cents. Losses, adjusted for non-recurring gains, came to 9 cents per share.

The results beat Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for a loss of 10 cents per share.

The oil and gas producer posted revenue of $1.7 billion in the period, also topping Street forecasts. Three analysts surveyed by Zacks expected $1.55 billion.

Hess shares have risen 53% since the beginning of the year, while the Standard & Poor’s 500 index has increased 20%. The stock has dropped 4% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on HES at https://www.zacks.com/ap/HES

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