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.
Keywords: Hess, Earnings Report