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Hess reports third-quarter loss but tops expectations


NEW YORK — Hess Corp. (HES) on Wednesday reported a third-quarter loss of $279 million, after reporting a profit in the same period a year earlier.

The New York-based company said it had a loss of 98 cents per share. Losses, adjusted for non-recurring gains, were $1.03 per share.

The results beat Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for a loss of $1.22 per share.

The oil and gas producer posted revenue of $1.69 billion in the period.

Hess shares have declined 23 percent since the beginning of the year, while the Standard & Poor's 500 index has stayed nearly flat. The stock has declined 29 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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