By Denny Jacob
Hess reported lower profit and revenue in its latest quarter as results were impacted in part by lower average selling prices for crude oil from a year earlier.
The oil-and-gas production company on Wednesday posted a profit of $430 million, or $1.39 a share, compared to $972 million, or $3.16 a share, in the prior-year period.
Stripping out certain one-time items, adjusted earnings came in at $1.81 a share. Analysts polled by FactSet expected $1.64 a share.
Total revenue and nonoperating income declined to $2.94 billion from $3.34 billion. Analysts polled by FactSet expected $2.76 billion.
Oil and natural gas net production in the quarter came in at 476,000 barrels of oil equivalent per day.
The company's average realized crude oil selling price during the quarter was $71.22 a barrel, down from $80.06 a barrel a year prior.
The average realized natural gas liquids selling price was $24.08 a barrel, up from $22.97 a barrel in the prior-year quarter.
Write to Denny Jacob at denny.jacob@wsj.com
(END) Dow Jones Newswires
April 30, 2025 07:59 ET (11:59 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
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