Hess Corporation Q1 Profit Decreases, but beats estimates

(RTTNews) - Hess Corporation (HES) announced earnings for first quarter that decreased from the same period last year but beat the Street estimates.

The company's bottom line totaled $346 million, or $1.13 per share. This compares with $417 million, or $1.34 per share, in last year's first quarter.

Excluding items, Hess Corporation reported adjusted earnings of $346 million or $1.13 per share for the period.

Analysts on average had expected the company to earn $1.06 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 3.4% to $2.45 billion from $2.37 billion last year.

Hess Corporation earnings at a glance (GAAP) :

-Earnings (Q1): $346 Mln. vs. $417 Mln. last year. -EPS (Q1): $1.13 vs. $1.34 last year. -Analyst Estimates: $1.06 -Revenue (Q1): $2.45 Bln vs. $2.37 Bln last year.