HES Earnings Prediction
The chart below shows how HES performed 10 days before and after its earnings report, based on data from the past quarters. Typically, HES sees a -2.33% change in stock price 10 days leading up to the earnings, and a -2.69% change 10 days following the report. On the earnings day itself, the stock moves by +0.87%. This data can give you a slight idea of what to expect for the next quarter's release.
HES Key Earning Data
2024/Q4
Year Over Year
Quarter Over Quarter
Total Revenue
2.29B
-22.54%
-5.06%
Gross Margin
52.38%
-6.41%
-0.48%
Operating Margin
23.50%
-40.64%
-17.28%
Net Margin
8.96%
-64.89%
-49.52%
EPS
0.39
-81.86%
-65.49%
No Data Available
HES Earnings Analysis
Hess Corporation Corporation (HES.N) Earnings Conference Call
Positive
Hess Corporation demonstrated strong operational performance across its portfolio in the second quarter of 2023.
Company-wide net production exceeded guidance at 387,000 barrels of oil equivalent per day.
Bakken net production of 181,000 barrels of oil equivalent per day was above guidance, and future forecasts show steady growth trajectory.
Hess Corporation experienced exploration success in the Gulf of Mexico and plans for more drilling.
The Pickerel-1 well resulted in an oil discovery with plans to tie back to production facility in mid-2024.
Future drilling includes the Black Pearl development well and the Vancouver prospect in the Gulf of Mexico.
Hess Corporation anticipates significant shareholder value through Guyana operations.
Guyana net production averaged 110,000 barrels of oil per day, hitting the high end of guidance range.
With Payara development set for early fourth quarter start-up, full-year 2023 net production is expected to average approximately 115,000 barrels of oil per day.
Hess Corporation's financial position remains strong.
Cash and cash equivalents totaled $2.2 billion with total liquidity of $5.6 billion.
Consistent E&P cash costs and lower end of guidance for full-year projections indicate financial stability.
Negative
- Net income decreased significantly from the previous quarter, with adjusted net income dropping to $201 million in Q2 2023.
- E&P segment earnings decreased by $168 million due to lower realized selling prices, higher costs, and exploration expenses.
- Midstream segment earnings increased slightly, but net income for Hess Corporation as a whole decreased from the previous quarter.
- Capital and exploratory expenditures for E&P increased to $933 million in Q2 2023, raising concerns about expenditure management.
