Hess Corporation Q1 Profit Increases, beats estimates

(RTTNews) - Hess Corporation (HES) reported earnings for its first quarter that increased from last year and beat the Street estimates.

The company's earnings came in at $417 million, or $1.34 per share. This compares with $252 million, or $0.82 per share, in last year's first quarter.

Excluding items, Hess Corporation reported adjusted earnings of $404 million or $1.30 per share for the period.

Analysts on average had expected the company to earn $1.13 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 23.4% to $2.37 billion from $1.92 billion last year.

Hess Corporation earnings at a glance (GAAP) :

-Earnings (Q1): $417 Mln. vs. $252 Mln. last year. -EPS (Q1): $1.34 vs. $0.82 last year. -Analyst Estimate: $1.13 -Revenue (Q1): $2.37 Bln vs. $1.92 Bln last year.