Hess reports fourth-quarter loss of $8 million

MarketsAssociated Press

Hess Corp. (HES) on Wednesday reported a fourth-quarter loss of $8 million, after reporting a profit in the same period a year earlier.

On a per-share basis, the New York-based company said it had a loss of 3 cents. Earnings, adjusted for non-recurring costs and to account for discontinued operations, came to 18 cents per share.

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The results missed Wall Street expectations. The average estimate of analysts surveyed by Zacks Investment Research was for earnings of 29 cents per share.

The oil and gas producer posted revenue of $2.53 billion in the period.

For the year, the company reported profit of $2.32 billion, or $7.53 per share. Revenue was reported as $11.44 billion.

Hess shares have decreased 3 percent since the beginning of the year, while the Standard & Poor's 500 index has declined slightly more than 1 percent. The stock has dropped slightly more than 5 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