Hess Corporation Q3 Profit Increases, beats estimates

(RTTNews) - Hess Corporation (HES) revealed a profit for its third quarter that increased from the same period last year and beat the Street estimates.

The company's earnings totaled $515M, or $1.67 per share. This compares with $115M, or $0.37 per share, in last year's third quarter.

Excluding items, Hess Corporation reported adjusted earnings of $583 million or $1.89 per share for the period.

Analysts on average had expected the company to earn $1.87 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 74.6% to $3.16 billion from $1.81 billion last year.

Hess Corporation earnings at a glance (GAAP) :

-Earnings (Q3): $515M. vs. $115M. last year. -EPS (Q3): $1.67 vs. $0.37 last year. -Analyst Estimate: $1.87 -Revenue (Q3): $3.16 Bln vs. $1.81 Bln last year.