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TheStreet Open House

Hess Reports Estimated Results For The Second Quarter Of 2012

Hess Corporation (NYSE: HES) reported net income of $549 million for the second quarter of 2012, compared with $607 million for the second quarter of 2011. The after-tax income (loss) by major operating activity was as follows:

         
Three Months Ended Six Months Ended
June 30, (unaudited) June 30, (unaudited)
2012   2011 2012   2011
(In millions, except per share amounts)
Exploration and Production $   644 $   747 $   1,279 $   1,726
Marketing and Refining 8 (39) 19 -
Corporate (39) (42) (77) (70)
Interest expense     (64)     (59)     (127)     (120)
Net income attributable to Hess Corporation $   549 $   607 $   1,094 $   1,536
 
Net income per share (diluted) $   1.61 $   1.78 $   3.21 $   4.52
 
Weighted average number of shares (diluted)     340.4     340.4     340.4     339.7
 

 

Note: See the following page for a table of items affecting comparability of earnings between periods.

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