Hess (NYS: HES) reported earnings on July 25. Here are the numbers you need to know.
The 10-second takeaway
For the quarter ended June 30 (Q2), Hess beat expectations on revenue and crushed expectations on earnings per share.
Compared to the prior-year quarter, revenue shrank and GAAP earnings per share contracted.
Gross margins improved, operating margins grew, and net margins contracted.
Hess reported revenue of $9.31 billion. The one analyst polled by S&P Capital IQ hoped for a top line of $8.82 billion on the same basis. GAAP reported sales were 5.6% lower than the prior-year quarter's $9.85 billion.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
EPS came in at $1.72. The 17 earnings estimates compiled by S&P Capital IQ predicted $1.41 per share. GAAP EPS of $1.61 for Q2 were 9.6% lower than the prior-year quarter's $1.78 per share.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 25.7%, 370 basis points better than the prior-year quarter. Operating margin was 13.1%, 190 basis points better than the prior-year quarter. Net margin was 5.9%, 30 basis points worse than the prior-year quarter.
Next quarter's average estimate for revenue is $8.80 billion. On the bottom line, the average EPS estimate is $1.21.
Next year's average estimate for revenue is $38.54 billion. The average EPS estimate is $5.72.
The stock has a five-star rating (out of five) at Motley Fool CAPS, with 936 members out of 970 rating the stock outperform, and 34 members rating it underperform. Among 195 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 187 give Hess a green thumbs-up, and eight give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Hess is outperform, with an average price target of $70.56.
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The article Hess Crushes Earnings Estimates originally appeared on Fool.com.
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