Hess Corp. said its normalized net income for the fourth quarter was a loss of $3.11 per share, compared with the S&P Capital IQ consensus estimate of a loss of $1.08 per share.
The per-share loss widened 15.5% year over year from $2.70.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of $975.3 million, compared with a loss of $763.3 million in the prior-year period.
The normalized profit margin declined to negative 71.7% from negative 53.1% in the year-earlier period.
Total revenue declined 5.4% on an annual basis to $1.36 billion from $1.44 billion, and total operating expenses grew 16.3% from the prior-year period to $2.85 billion from $2.45 billion.
Reported net income totaled a loss of $4.90 billion, or a loss of $15.65 per share, compared with a loss of $1.81 billion, or a loss of $6.41 per share, in the year-earlier period.
For the year, the company's normalized net income totaled a loss of $7.57 per share, compared with the S&P Capital IQ consensus normalized EPS estimate of a loss of $4.98.
EPS was a loss of $6.40 in the prior year.
Normalized net income was a loss of $2.34 billion, compared with a loss of $1.82 billion in the prior year.
Full-year total revenue fell on an annual basis to $4.66 billion from $6.49 billion, and total operating expenses decreased year over year to $8.04 billion from $8.85 billion.
The company said reported net income came to a loss of $6.17 billion, or a loss of $19.92 per share, in the full year, compared with a loss of $3.01 billion, or a loss of $10.61 per share, the prior year.
