Hess Beats Q3 Earnings Estimates On Robust Guyana Output

Leading U.S. shale operator, Hess Corp.

has posted yet another impressive earnings report, with its stake in prolific Guyana helping it exceed estimates. Hess reported Q3 2024 non-GAAP EPS of $2.14, beating the Wall Street consensus by $0.37 while revenue of $3.2B 12.7% Y/Y beat by $160M. The company’s profits, however, fell slightly due to lower oil and gas prices net income during the quarter clocked in at $498 million, or $1.62 per share, compared with net income of $504 million, or $1.64 per share, in the third quarter of 2023.

despite the deal being challenged by its leading Guyana partner, Exxon Mobil Corp. By Alex Kimani for Oilprice.com

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