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Income Statement (USD)
Q1 '24 | QoQ | |
---|---|---|
Revenue | 3.31B | 9.9% |
Gross Profit | 3.18B | 12% |
Cost of Revenue | 127M | 25.3% |
Operating expense | 536M | 16.4% |
Net Income | 972M | 135.4% |
EBITDA | 2.05B | 53.7% |
Balance Sheet (USD)
Q1 '24 | QoQ | |
---|---|---|
Total Assets | 24.7B | 3% |
Total Liabilities | 14.2B | 1.5% |
Total Equity | 9.87B | 9.8% |
Shares Outstanding | 306M | 0.3% |
Cash Flow (USD)
Q1 '24 | QoQ | |
---|---|---|
Cash from operations | 885M | 34.2% |
Cash from investing | -958M | 33.8% |
Cash from financing | -177M | 22% |
EPS
Financial Highlights for Hess Corporation in Q1 '24
Hess Corporation reported a revenue of 3.31B, which is a 9.9% change from the previous quarter. An increase in revenue typically indicates growing demand for the company's products or services. This positive change in revenue is a good sign, suggesting that the company's sales are moving in the right direction.
Gross Profit stood at 3.18B, marking a 12% change since the last quarter. Gross profit showcases the efficiency in production and sales processes.
Cost of Revenue was 127M, a -25.3% difference from the previous quarter. A rising cost of revenue may suggest increased production or sales costs, which can impact margins. However, if accompanied by a proportionate rise in revenue, it could indicate scaling operations.
Operating Expenses for this period were 536M, showing a -16.4% change from the last quarter. Operating expenses cover the costs of running daily business operations. A significant increase might indicate inefficiencies or investments in growth, while a decrease could suggest cost-saving measures or potential underinvestment in key areas.
Net Income for the quarter was 972M, showing a 135.4% change from the prior quarter. Net income provides a clear picture of the company's profitability after all expenses. An increase suggests the company is becoming more profitable, while a decrease may raise concerns about the company's financial health, unless there are specific one-time costs or investments.
The company's EBITDA for the quarter was 2.05B, showing a 53.7% change from the previous period. EBITDA gives insight into the company's operational profitability, excluding non-operating expenses like interest and taxes. A rising EBITDA indicates strong operational performance, while a declining EBITDA may signal operational challenges or increased costs.
It was a positive quarter for Hess Corporation with growth in revenue, gross profit, and net income.