HES Poised to Report Q1 Earnings: Here's What You Need to Know

Core Viewpoint - Hess Corporation (HES) is expected to report first-quarter 2025 results on April 30, with adjusted earnings per share anticipated to decline significantly compared to the previous year [1][2]. Financial Performance - In the last reported quarter, HES achieved adjusted earnings of $1.76 per share, surpassing the Zacks Consensus Estimate of $1.51, driven by increased oil equivalent production volumes and reduced costs [1]. - The Zacks Consensus Estimate for first-quarter earnings per share is $1.77, reflecting a nearly 44% decrease from the prior-year figure [1]. - The estimated revenue for the first quarter is $2.9 billion, indicating a 13.2% decline from the year-ago recorded figure [2]. Market Conditions - Average WTI spot prices for January, February, and March were $75.74, $71.53, and $68.24 per barrel, respectively, suggesting a favorable pricing environment for HES' upstream operations [3]. - However, the pricing scenario was more favorable in the prior-year period, which is likely to contribute to a projected 1.1% year-over-year decline in total daily oil equivalent production volumes for HES in the first quarter of 2025 [4]. Earnings Expectations - Current analysis indicates that HES is not expected to beat earnings estimates this reporting cycle, as it has an Earnings ESP of 0.00% and a Zacks Rank of 3 (Hold) [5]. - In contrast, other companies such as APA Corporation and Devon Energy are expected to post earnings beats, with respective Earnings ESPs of +4.65% and +1.71% [6][7].