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Hess posts 3Q profit of $1.01 billion, result tops expectations

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NEW YORK — Hess Corp. (HES) on Wednesday reported third-quarter net income of $1.01 billion.

The New York-based company said it had profit of $3.31 per share. Earnings, adjusted to account for discontinued operations, were $1.24 per share.

The results exceeded Wall Street expectations. The average estimate of analysts surveyed by Zacks Investment Research was for earnings of $1.07 per share.

The oil and gas producer posted revenue of $2.8 billion in the period.

Hess shares have increased roughly 1 percent since the beginning of the year, while the Standard & Poor's 500 index has climbed roughly 8 percent. The stock has risen slightly in the last 12 months.

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This story was generated by Automated Insights using data from Zacks Investment Research. HES stock research report from Zacks.

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Keywords:Hess,Earnings Report

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