Hess Q2 Profit Declines - Quick Facts

(RTTNews) - Energy company Hess Corp. (HES) said second-quarter net income attributable to the company declined to $931 million or $2.96 per share from $1.43 billion or $4.16 per share in the prior-year quarter.

Excluding items, adjusted net income for the quarter was $432 million or $1.38 per share, compared to $520 million or $1.51 per share in the year-ago quarter.

On average, 23 analysts polled by Thomson Reuters expected the company to report earnings of $1.18 per share for the quarter. Analysts estimates typically exclude special items.

Total revenues and non-operating income declined to $3.60 billion from $4.16 billion in the same quarter last year. Three Wall Street analysts had a consensus revenue estimate of $2.63 billion for the quarter.

Oil and gas production was 319,000 barrels of oil equivalent per day or boepd, compared to 341,000 boepd in the year-ago quarter.