Hess reports fourth-quarter loss, misses expectations

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NEW YORK — Hess Corp. (HES) on Wednesday reported a loss of $1.82 billion in its fourth quarter.

The New York-based company said it had a loss of $6.43 per share. Losses, adjusted for non-recurring costs and to account for discontinued operations, were $1.40 per share.

The results missed Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for a loss of $1.10 per share.

The oil and gas producer posted revenue of $1.39 billion in the period.

For the year, the company reported a loss of $3.06 billion, or $10.78 per share, swinging to a loss in the period. Revenue was reported as $6.56 billion.

Hess shares have declined 28 percent since the beginning of the year, while the Standard & Poor's 500 index has decreased almost 7 percent. The stock has decreased 51 percent in the last 12 months.


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 http://www.zacks.com/ap/HES


Keywords: Hess, Earnings Report

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