Hess Corporation reported financial results for the third quarter of 2008 with the following highlights:
- Net income was $775 million, up from $395 million in the third quarter of 2007.
- Cash flows from operations were $1.2 billion, up from $863 million in the third quarter of 2007.
- Oil and gas production was 361,000 barrels per day, up slightly from 357,000 barrels per day in the third quarter of 2007.
hess 1/28/2009 Estimated Results for the Fourth Quarter of 2008finance8
Hess Corporation reported a net loss of $74 million for Q4 2008 compared to net income of $510 million for Q4 2007. Key factors included after-tax dry hole costs of $86 million and foreign exchange losses of $84 million. Oil and gas production was 379,000 barrels per day, down 11,000 barrels from Q4 2007 due to hurricanes. Proved reserves increased to 1.432 billion barrels at the end of 2008, replacing 171% of 2008 production. Marketing and Refining earnings were $152 million, up from $31 million in Q4 2007.
hess 7/30/2008 Estimated Results for the Second Quarter of 2008finance8
Hess Corporation reported its estimated financial results for the second quarter of 2008. Net income was $900 million, up from $557 million in the second quarter of 2007. Oil and gas production increased 4% compared to the second quarter of 2007. Exploration and Production earnings were $1,025 million, up significantly from $505 million in the second quarter of 2007 due to higher oil and gas prices and increased production volumes. However, Marketing and Refining lost $52 million compared to a profit of $122 million in the prior year period due to lower margins and trading results.
Hess Corporation reported a net loss of $59 million for the first quarter of 2009, compared to net income of $759 million in the first quarter of 2008. Oil and gas production was 390,000 barrels per day, similar to the first quarter of 2008. Exploration and Production generated a loss of $64 million in the first quarter of 2009 versus income of $824 million in the prior year quarter, due to lower oil and gas prices. Marketing and Refining earnings were $102 million, an increase of $86 million from the first quarter of 2008.
- El Paso Corporation reported financial results for the third quarter of 2006 with EBIT of $359 million compared to a loss of $92 million in the third quarter of 2005.
- The Pipelines segment continued its strong performance with EBIT up 12% from the third quarter of 2005, driven by increased throughput. Exploration and Production also had a solid quarter with production volumes up.
- Significant progress was made on legacy issues, including exiting the domestic power business and downsizing the gas trading book. Debt was also reduced by $3.1 billion through the end of the third quarter.
Matthews International reported net income of $11.3 million for the first quarter of fiscal year 2009, representing earnings per share of $0.37. This included $6.6 million in unusual charges related to cost reduction initiatives and asset adjustments due to current market conditions. Sales increased 4.9% to $191.3 million due to an acquisition in May 2008. However, weak global economic conditions impacted operating profit which declined to $20.1 million including the unusual charges. The company maintained its guidance for fiscal year 2009 of earnings per share growth of 5-10% despite the challenging market environment.
This document provides financial highlights and other information for Alltel Corporation for the third quarter and first nine months of 2006 compared to the same periods in 2005. It includes revenues, operating income, net income, earnings per share, capital expenditures and other key financial metrics. Alltel saw increases in revenues, operating income and net income in both periods compared to the previous year. However, net income decreased for the third quarter due to special items. The document also provides reconciliation of GAAP results to non-GAAP results from current businesses, excluding certain one-time items.
El Paso Corporation reported second quarter 2006 diluted EPS from continuing operations of $0.21, which included a $0.02 gain from production hedges. The company achieved $487 million in EBIT and $1.4 billion in cash flow from operations. El Paso reduced gross debt by $3 billion through July 2006 through strong cash flow and asset sales, bringing net debt down to $14.45 billion. The company made continued progress on legacy legal issues while pipelines, exploration and production, and other businesses performed well during the quarter.
- Marathon Oil Corporation reported a net income of $2.064 billion for Q3 2008, more than double the $1.021 billion in Q3 2007. Revenues increased to $23.446 billion from $16.954 billion.
- Exploration and Production segment income nearly doubled to $939 million due to higher liquid hydrocarbon prices and sales volumes. Oil Sands Mining reported income of $288 million.
- Refining, Marketing and Transportation segment income increased to $771 million due to higher refining margins and crude oil differentials. Integrated Gas income was $65 million.
- Production averaged 379,000 barrels of oil equivalent per day, up from 371,000 in Q3 2007.
hess 1/28/2009 Estimated Results for the Fourth Quarter of 2008finance8
Hess Corporation reported a net loss of $74 million for Q4 2008 compared to net income of $510 million for Q4 2007. Key factors included after-tax dry hole costs of $86 million and foreign exchange losses of $84 million. Oil and gas production was 379,000 barrels per day, down 11,000 barrels from Q4 2007 due to hurricanes. Proved reserves increased to 1.432 billion barrels at the end of 2008, replacing 171% of 2008 production. Marketing and Refining earnings were $152 million, up from $31 million in Q4 2007.
hess 7/30/2008 Estimated Results for the Second Quarter of 2008finance8
Hess Corporation reported its estimated financial results for the second quarter of 2008. Net income was $900 million, up from $557 million in the second quarter of 2007. Oil and gas production increased 4% compared to the second quarter of 2007. Exploration and Production earnings were $1,025 million, up significantly from $505 million in the second quarter of 2007 due to higher oil and gas prices and increased production volumes. However, Marketing and Refining lost $52 million compared to a profit of $122 million in the prior year period due to lower margins and trading results.
Hess Corporation reported a net loss of $59 million for the first quarter of 2009, compared to net income of $759 million in the first quarter of 2008. Oil and gas production was 390,000 barrels per day, similar to the first quarter of 2008. Exploration and Production generated a loss of $64 million in the first quarter of 2009 versus income of $824 million in the prior year quarter, due to lower oil and gas prices. Marketing and Refining earnings were $102 million, an increase of $86 million from the first quarter of 2008.
- El Paso Corporation reported financial results for the third quarter of 2006 with EBIT of $359 million compared to a loss of $92 million in the third quarter of 2005.
- The Pipelines segment continued its strong performance with EBIT up 12% from the third quarter of 2005, driven by increased throughput. Exploration and Production also had a solid quarter with production volumes up.
- Significant progress was made on legacy issues, including exiting the domestic power business and downsizing the gas trading book. Debt was also reduced by $3.1 billion through the end of the third quarter.
Matthews International reported net income of $11.3 million for the first quarter of fiscal year 2009, representing earnings per share of $0.37. This included $6.6 million in unusual charges related to cost reduction initiatives and asset adjustments due to current market conditions. Sales increased 4.9% to $191.3 million due to an acquisition in May 2008. However, weak global economic conditions impacted operating profit which declined to $20.1 million including the unusual charges. The company maintained its guidance for fiscal year 2009 of earnings per share growth of 5-10% despite the challenging market environment.
This document provides financial highlights and other information for Alltel Corporation for the third quarter and first nine months of 2006 compared to the same periods in 2005. It includes revenues, operating income, net income, earnings per share, capital expenditures and other key financial metrics. Alltel saw increases in revenues, operating income and net income in both periods compared to the previous year. However, net income decreased for the third quarter due to special items. The document also provides reconciliation of GAAP results to non-GAAP results from current businesses, excluding certain one-time items.
El Paso Corporation reported second quarter 2006 diluted EPS from continuing operations of $0.21, which included a $0.02 gain from production hedges. The company achieved $487 million in EBIT and $1.4 billion in cash flow from operations. El Paso reduced gross debt by $3 billion through July 2006 through strong cash flow and asset sales, bringing net debt down to $14.45 billion. The company made continued progress on legacy legal issues while pipelines, exploration and production, and other businesses performed well during the quarter.
- Marathon Oil Corporation reported a net income of $2.064 billion for Q3 2008, more than double the $1.021 billion in Q3 2007. Revenues increased to $23.446 billion from $16.954 billion.
- Exploration and Production segment income nearly doubled to $939 million due to higher liquid hydrocarbon prices and sales volumes. Oil Sands Mining reported income of $288 million.
- Refining, Marketing and Transportation segment income increased to $771 million due to higher refining margins and crude oil differentials. Integrated Gas income was $65 million.
- Production averaged 379,000 barrels of oil equivalent per day, up from 371,000 in Q3 2007.
StockerYale reported financial results for the first quarter of 2009, with revenue of $6.3 million, down 22% year-over-year due to a strong US dollar and weak global demand. The company achieved a gross profit margin of 38% compared to 31% in Q1 2008 through higher margin product sales and cost reductions. While the operating loss was $0.9 million, EBITDA was near break-even at -$27,000 compared to a loss of $400,000 in Q1 2008. StockerYale expects continued challenges in the near future but believes medical and defense sales will increase in 2009 to offset weakness in other markets.
- Boeing reported a Q4 loss of $56 million compared to a profit of $1 billion in Q4 2007, due to impacts of the machinists' strike, a $685 million charge for the 747 program, and $101 million litigation reserve.
- Full year revenues fell 8% to $60.9 billion while net income declined 34% to $2.7 billion, reduced by an estimated $2.56 per share due to special charges.
- Boeing provided guidance for 2009 of revenues between $68-69 billion and EPS of $5.05-5.35 per share, with operating cash flow exceeding $2.5 billion.
- Ford reported third quarter earnings results with an operating loss of $2.6 billion for Ford North America. Revenue was down from the prior year.
- Cost reductions of $300 million were achieved despite $1 billion in higher commodity costs. Ford North America remains on track to achieve $5 billion in cost reductions.
- A curtailment gain of over $2 billion was recognized related to changes in retiree healthcare obligations, reducing annual costs by $2 billion and cash flow by $1 billion.
- Five auto plants have been sold from the Automotive Components Holdings group, with plans to close two additional plants by year-end. Progress has been made but more work remains to transition the remaining plants.
El Paso Corporation reported financial and operational results for the first quarter of 2006. Key highlights included:
- EBIT of $888 million, up significantly from $463 million in the first quarter of 2005.
- Pipelines segment EBIT of $478 million, up 16% year-over-year, driven by growth projects and acquisitions.
- Exploration and Production segment EBIT of $199 million, in line with prior year despite lower production volumes impacted by hurricanes.
- $1.3 billion in gross debt reduction year-to-date through asset sales and cash flow. Balance sheet metrics continue to improve.
- 130 Bcf of 2007 production hedged to provide
The Goodyear Tire & Rubber Company reported record sales and operating income for the third quarter of 2007. Sales increased 3% to $5.1 billion due to higher prices and an improved product mix offsetting lower volumes. Segment operating income increased 35% to a record $382 million due to pricing improvements that more than offset higher raw material costs. Net income was $668 million including a $517 million after-tax gain on the sale of the Engineered Products business. All five business units achieved double-digit growth in operating income and North American Tire significantly improved profits through cost savings and new product success despite lower sales volumes.
- The company reported financial and operational results for the first quarter of 2007, with pipeline and E&P results on target.
- Pipeline throughput was up 9% from the first quarter of 2006 due to new supply, expansions, power loads, and colder weather. Several pipeline expansion projects were completed or underway.
- E&P production was on target and a South Texas acquisition was completed for $254 million. Exploration continued in Brazil and the organization's capabilities were increased.
Titan International reported record first quarter agricultural sales of $187.3 million, up $13 million from the previous year, despite overall sales declining from $253.5 million to $232.6 million due to lower demand in earthmoving and construction. Net income was $7 million compared to $8.1 million last year, while gross profit margin improved slightly to 12.9%. The CEO commented that agricultural market demand looks good but uncertainty remains, and material costs are declining which could help Titan gain market share through improvements and increased customer visits.
Celanese Corporation reported significantly lower fourth quarter and full year 2008 results compared to the prior year period due to weak global demand and unprecedented inventory destocking throughout its supply chains. Fourth quarter net sales were down 27% and operating profit turned to a loss of $152 million compared to a profit of $324 million in the prior year period. For the full year, net sales decreased 6% while operating profit fell 41% to $440 million. The company took actions to reduce costs and align production with current demand levels. It expects earnings to improve through 2009 but the global economic environment to remain weak.
el paso 02_274Q2006Earnings_FINAL_FINAL_bbfinance49
This document provides an investor update from El Paso Corporation for the fourth quarter and full year 2006. Key highlights include:
- The company reduced gross debt by $2.8 billion in 2006 and had $1 billion year-over-year swing in profits.
- Pipelines segment saw record earnings and a 22% increase in earnings from 2005. E&P segment replaced 108% of production primarily through drilling.
- For full year 2006, the company reported $1.75 billion in EBIT and $475 million in net income.
- The company used $2.5 billion in cash for debt reduction in 2006 and reduced net debt to $14.1 billion at the end of the year.
tech data Fiscal Year 2006 Q1-3 Not Restated for Discontinued Operationsfinance11
Tech Data Corporation provided a reconciliation of GAAP (Generally Accepted Accounting Principles) to non-GAAP measures for operating income, net income, and earnings per share for the third quarter of 2005, second quarter of 2005, first quarter of 2005, and first nine months of 2005. Non-GAAP measures exclude restructuring charges and other costs related to Tech Data's European restructuring program. For the quarter, non-GAAP operating income was $52 million compared to $35 million for GAAP. Non-GAAP net income was $31 million compared to a GAAP net loss of $59 million. On a per share basis, non-GAAP earnings were $0.53 per share compared
This document provides financial highlights and statistical data for Unum Group for quarters 3 and 9 months ended September 30, 2008 and 2007 and years ended December 31, 2007, 2006 and 2005. It includes information on premium income, revenues, benefits expenses, net income, earnings per share, sales data by segment and quarterly performance. Key figures shown are total revenue of $2.4 billion for Q3 2008, net income of $108 million for Q3 2008, and group long-term disability sales increasing 31.4% for Unum US segment in Q3 2008 compared to prior year.
This document is a statistical supplement from Unum Group for the second quarter of 2008. It includes financial highlights and consolidated financial statements for Unum for quarters, six month periods, and full years 2005-2007. It also includes sales data by segment (Unum US, Unum UK, Colonial Life, etc.) and notes on non-GAAP measures and items affecting results for specific periods. The document provides an overview of Unum's financial and operating results over several years through tables, charts, and explanatory notes.
unum group 3Q 07_Statistical_Supplement_and_Notesfinance26
The document is a statistical supplement from Unum Group providing financial highlights and consolidated statements of operations for various periods in 2007 and comparisons to prior years. It includes information on premium income, revenue, income and losses from continuing and discontinued operations, assets, equity, per share information, dividends paid, book value, and stock prices. Certain years are noted as including claim reassessment charges, costs related to debt retirement, broker settlement expenses, and tax benefits or refunds received.
Danaher Corporation announced record first quarter results for 2006, with net earnings of $216 million, a 15% increase from 2005. Total sales increased 17.5% to $2.14 billion due to 12.5% growth from acquisitions and 7.5% core revenue growth. Operating cash flow was also up 8% from the previous record set in 2005. The company's CEO stated that the broad-based strength across businesses reinforces confidence in delivering positive results for the rest of 2006.
Raytheon reported strong financial results for Q2 2008, with sales up 11% and EPS up 27%. All business segments saw sales growth. Raytheon increased full-year guidance for sales, EPS, operating cash flow and return on invested capital. The company also reported solid bookings of $6 billion for Q2 and a backlog of $37.5 billion.
This document summarizes Northrop Grumman's Q3 2008 financial results. It highlights increases in sales, earnings per share, cash from operations, and new business awards compared to Q3 2007. The CEO also notes share repurchases, a record backlog, opportunities for growth, and raised guidance for full year EPS. Updates are provided on major defense programs and milestones. The CFO discusses the company's liquidity, risk mitigation efforts, and negotiating better contracts. Projections for full year 2008 sales, margins, cash flow, and earnings are included. Potential impacts of market declines on 2009 pension expenses are also estimated.
This map was downloaded from Anarchy Maps, a website that provides reviewed Counterstrike maps. Anarchy Maps is located at http://www.clan-anarchy.de and offers maps for download and review.
Syndication è la collaborazione che Zoover offre a tutti gli operatori turistici con un sito web finalizzato alla prenotazione on-line. Syndication permette di condividere le recensioni degli utenti e di avere in breve tempo propri contenuti da utilizzare in futuro.
StockerYale reported financial results for the first quarter of 2009, with revenue of $6.3 million, down 22% year-over-year due to a strong US dollar and weak global demand. The company achieved a gross profit margin of 38% compared to 31% in Q1 2008 through higher margin product sales and cost reductions. While the operating loss was $0.9 million, EBITDA was near break-even at -$27,000 compared to a loss of $400,000 in Q1 2008. StockerYale expects continued challenges in the near future but believes medical and defense sales will increase in 2009 to offset weakness in other markets.
- Boeing reported a Q4 loss of $56 million compared to a profit of $1 billion in Q4 2007, due to impacts of the machinists' strike, a $685 million charge for the 747 program, and $101 million litigation reserve.
- Full year revenues fell 8% to $60.9 billion while net income declined 34% to $2.7 billion, reduced by an estimated $2.56 per share due to special charges.
- Boeing provided guidance for 2009 of revenues between $68-69 billion and EPS of $5.05-5.35 per share, with operating cash flow exceeding $2.5 billion.
- Ford reported third quarter earnings results with an operating loss of $2.6 billion for Ford North America. Revenue was down from the prior year.
- Cost reductions of $300 million were achieved despite $1 billion in higher commodity costs. Ford North America remains on track to achieve $5 billion in cost reductions.
- A curtailment gain of over $2 billion was recognized related to changes in retiree healthcare obligations, reducing annual costs by $2 billion and cash flow by $1 billion.
- Five auto plants have been sold from the Automotive Components Holdings group, with plans to close two additional plants by year-end. Progress has been made but more work remains to transition the remaining plants.
El Paso Corporation reported financial and operational results for the first quarter of 2006. Key highlights included:
- EBIT of $888 million, up significantly from $463 million in the first quarter of 2005.
- Pipelines segment EBIT of $478 million, up 16% year-over-year, driven by growth projects and acquisitions.
- Exploration and Production segment EBIT of $199 million, in line with prior year despite lower production volumes impacted by hurricanes.
- $1.3 billion in gross debt reduction year-to-date through asset sales and cash flow. Balance sheet metrics continue to improve.
- 130 Bcf of 2007 production hedged to provide
The Goodyear Tire & Rubber Company reported record sales and operating income for the third quarter of 2007. Sales increased 3% to $5.1 billion due to higher prices and an improved product mix offsetting lower volumes. Segment operating income increased 35% to a record $382 million due to pricing improvements that more than offset higher raw material costs. Net income was $668 million including a $517 million after-tax gain on the sale of the Engineered Products business. All five business units achieved double-digit growth in operating income and North American Tire significantly improved profits through cost savings and new product success despite lower sales volumes.
- The company reported financial and operational results for the first quarter of 2007, with pipeline and E&P results on target.
- Pipeline throughput was up 9% from the first quarter of 2006 due to new supply, expansions, power loads, and colder weather. Several pipeline expansion projects were completed or underway.
- E&P production was on target and a South Texas acquisition was completed for $254 million. Exploration continued in Brazil and the organization's capabilities were increased.
Titan International reported record first quarter agricultural sales of $187.3 million, up $13 million from the previous year, despite overall sales declining from $253.5 million to $232.6 million due to lower demand in earthmoving and construction. Net income was $7 million compared to $8.1 million last year, while gross profit margin improved slightly to 12.9%. The CEO commented that agricultural market demand looks good but uncertainty remains, and material costs are declining which could help Titan gain market share through improvements and increased customer visits.
Celanese Corporation reported significantly lower fourth quarter and full year 2008 results compared to the prior year period due to weak global demand and unprecedented inventory destocking throughout its supply chains. Fourth quarter net sales were down 27% and operating profit turned to a loss of $152 million compared to a profit of $324 million in the prior year period. For the full year, net sales decreased 6% while operating profit fell 41% to $440 million. The company took actions to reduce costs and align production with current demand levels. It expects earnings to improve through 2009 but the global economic environment to remain weak.
el paso 02_274Q2006Earnings_FINAL_FINAL_bbfinance49
This document provides an investor update from El Paso Corporation for the fourth quarter and full year 2006. Key highlights include:
- The company reduced gross debt by $2.8 billion in 2006 and had $1 billion year-over-year swing in profits.
- Pipelines segment saw record earnings and a 22% increase in earnings from 2005. E&P segment replaced 108% of production primarily through drilling.
- For full year 2006, the company reported $1.75 billion in EBIT and $475 million in net income.
- The company used $2.5 billion in cash for debt reduction in 2006 and reduced net debt to $14.1 billion at the end of the year.
tech data Fiscal Year 2006 Q1-3 Not Restated for Discontinued Operationsfinance11
Tech Data Corporation provided a reconciliation of GAAP (Generally Accepted Accounting Principles) to non-GAAP measures for operating income, net income, and earnings per share for the third quarter of 2005, second quarter of 2005, first quarter of 2005, and first nine months of 2005. Non-GAAP measures exclude restructuring charges and other costs related to Tech Data's European restructuring program. For the quarter, non-GAAP operating income was $52 million compared to $35 million for GAAP. Non-GAAP net income was $31 million compared to a GAAP net loss of $59 million. On a per share basis, non-GAAP earnings were $0.53 per share compared
This document provides financial highlights and statistical data for Unum Group for quarters 3 and 9 months ended September 30, 2008 and 2007 and years ended December 31, 2007, 2006 and 2005. It includes information on premium income, revenues, benefits expenses, net income, earnings per share, sales data by segment and quarterly performance. Key figures shown are total revenue of $2.4 billion for Q3 2008, net income of $108 million for Q3 2008, and group long-term disability sales increasing 31.4% for Unum US segment in Q3 2008 compared to prior year.
This document is a statistical supplement from Unum Group for the second quarter of 2008. It includes financial highlights and consolidated financial statements for Unum for quarters, six month periods, and full years 2005-2007. It also includes sales data by segment (Unum US, Unum UK, Colonial Life, etc.) and notes on non-GAAP measures and items affecting results for specific periods. The document provides an overview of Unum's financial and operating results over several years through tables, charts, and explanatory notes.
unum group 3Q 07_Statistical_Supplement_and_Notesfinance26
The document is a statistical supplement from Unum Group providing financial highlights and consolidated statements of operations for various periods in 2007 and comparisons to prior years. It includes information on premium income, revenue, income and losses from continuing and discontinued operations, assets, equity, per share information, dividends paid, book value, and stock prices. Certain years are noted as including claim reassessment charges, costs related to debt retirement, broker settlement expenses, and tax benefits or refunds received.
Danaher Corporation announced record first quarter results for 2006, with net earnings of $216 million, a 15% increase from 2005. Total sales increased 17.5% to $2.14 billion due to 12.5% growth from acquisitions and 7.5% core revenue growth. Operating cash flow was also up 8% from the previous record set in 2005. The company's CEO stated that the broad-based strength across businesses reinforces confidence in delivering positive results for the rest of 2006.
Raytheon reported strong financial results for Q2 2008, with sales up 11% and EPS up 27%. All business segments saw sales growth. Raytheon increased full-year guidance for sales, EPS, operating cash flow and return on invested capital. The company also reported solid bookings of $6 billion for Q2 and a backlog of $37.5 billion.
This document summarizes Northrop Grumman's Q3 2008 financial results. It highlights increases in sales, earnings per share, cash from operations, and new business awards compared to Q3 2007. The CEO also notes share repurchases, a record backlog, opportunities for growth, and raised guidance for full year EPS. Updates are provided on major defense programs and milestones. The CFO discusses the company's liquidity, risk mitigation efforts, and negotiating better contracts. Projections for full year 2008 sales, margins, cash flow, and earnings are included. Potential impacts of market declines on 2009 pension expenses are also estimated.
This map was downloaded from Anarchy Maps, a website that provides reviewed Counterstrike maps. Anarchy Maps is located at http://www.clan-anarchy.de and offers maps for download and review.
Syndication è la collaborazione che Zoover offre a tutti gli operatori turistici con un sito web finalizzato alla prenotazione on-line. Syndication permette di condividere le recensioni degli utenti e di avere in breve tempo propri contenuti da utilizzare in futuro.
O documento discute a beleza da natureza e ensinamentos de Pietro Ubaldi sobre como apreciar a presença de Deus na criação. Ubaldi enfatiza a importância de cultivar o espírito, ser bom para alcançar a glória de Deus, e transformar espinhos em flores através da compreensão do bem em todas as coisas.
Este trabalho apresenta a evolução histórica dos números através de imagens desde os tempos antigos até os dias atuais. Foi produzido por Carlos Batista Mota e Joelma Alves de Avelar Silva.
Northrop Grumman reported financial results for Q1 2008. Earnings per share were reduced by $0.61 due to a shipbuilding charge. The dividend was increased to $0.40 per share and the company repurchased $600 million in stock. Despite the charge, new business awards totaled over $12 billion and the company maintained confidence in achieving 2012 financial targets of $42 billion in sales, 10% operating margin, and $8 EPS.
American Express Bank, FSB (FSB) is a federally insured savings bank and wholly-owned subsidiary of American Express. It issues credit cards and provides online banking services. Over the years 2006-2004, FSB's loans outstanding grew from $10.8 billion to $17.9 billion while maintaining capital levels above OTS requirements. FSB funds lending activities through deposits, bank notes, and securitization of credit card loans. It reported growing earnings over this period from $339 million to $795 million, supported by higher interest income from larger loan balances and higher interest rates, while maintaining charge-off and delinquency rates at comparable levels.
O documento descreve os principais órgãos de uma flor, dividindo-os em três categorias: órgãos de suporte como o pedúnculo e receptáculo; órgãos de proteção como as sépalas que formam o cálice e as pétalas que formam a corola; e órgãos de reprodução, sendo o androceu a parte masculina formada pelos estames com filete e antera, e o gineceu a parte feminina formada pelos carpelos com estilete, estigma e ovário.
This document announces the annual meeting of American Express Company shareholders to take place on April 24, 2006 at 10:00am at the company's New York City headquarters. Seven items of business will be voted on, including the election of directors, ratification of the selection of the independent auditors, and six shareholder proposals relating to stock options, majority voting for directors, employment policies, and reimbursement of expenses for shareholder-nominated director candidates. Shareholders of record as of February 28, 2006 are entitled to vote.
El documento ofrece consejos sobre esforzarse para lograr objetivos y buscar mejores oportunidades, pero también advierte ser cuidadoso al cruzar límites y no desesperarse si se enfrenta dificultades, ya que siempre habrá apoyo; sin embargo, termina con una broma sobre que a veces otros pueden complicar las cosas sin compasión.
Northrop Grumman reported financial results for Q1 2008 with the following key details:
- Sales increased 6% to $7.7 billion but earnings declined due to a $326 million charge related to cost overruns on a shipbuilding program.
- Operating income decreased 33% to $464 million and net earnings declined 32% to $264 million.
- Guidance for 2008 was updated to reflect the impact of the shipbuilding charge, with EPS now expected between $4.90-$5.15.
El documento plantea la gran pregunta sobre qué es la perfección. Discuten varias opiniones sobre lo que podría considerarse perfección, como algunos creen que es esto mientras que otros consideran que es aquello. Al final, sugiere que todas las opiniones anteriores están equivocadas y que la verdadera perfección es otra cosa.
The document discusses cool tools that can help make work easier or add functionality. It lists tools like Groundwork Monitor CE, Exchange Monitor, Wireshark, Putty, Networknotepad, Nslookup, Survey Monkey, Singlewrench, Backtrack3, and Maltego. Links are provided for each tool.
This document discusses implementing a smart grid using IBM's Datapower technology. It discusses:
1) Industry forces driving changes in utilities like customer expectations, aging infrastructure, and new regulations.
2) The need for greater reliability, efficiency, and observability in utility networks, leading to intelligent utility networks.
3) How standards like CIM and GID can provide common data models and services to improve integration across utility systems.
4) IBM's Solution Architecture for Energy and Utilities (SAFE) which provides a framework for building integrated solutions leveraging these standards.
Este documento presenta pistas sobre una activista hispanoamericana que luchó por los derechos de los indígenas, quiso ser presidenta de su país Guatemala, es embajadora de buena voluntad de la UNESCO, y ha recibido el Premio Nobel de la Paz y el Premio Príncipe de Asturias. La persona es Rigoberta Menchú, quien nació en Guatemala el 9 de enero de 1959.
hess 01/30/2008 Estimated Results for the Fourth Quarter of 2007finance8
Hess Corporation reported its estimated results for the fourth quarter of 2007. Key highlights include:
- Net income was $510 million compared to $359 million in the fourth quarter of 2006.
- Oil and gas production increased to 390,000 barrels per day, up from 366,000 in the fourth quarter of 2006.
- Reserve replacement was 167% in 2007 and reserve life increased to 9.5 years.
- Exploration and Production earnings were $583 million, up from $350 million in the fourth quarter of 2006.
Merck reported third quarter 2008 non-GAAP EPS of $0.80 excluding restructuring charges, and GAAP EPS of $0.51. Merck announced a global restructuring plan to eliminate approximately 7,200 positions by the end of 2011 and expects $3.8-4.2 billion in cumulative pretax savings from 2008-2013. Merck anticipates full-year 2008 non-GAAP EPS of $3.28-$3.32 excluding items, and GAAP EPS of $3.45-$3.55.
Merck reported third quarter 2008 non-GAAP EPS of $0.80 excluding restructuring charges of $0.29 per share, and GAAP EPS of $0.51. Merck announced a global restructuring plan to eliminate approximately 7,200 positions by the end of 2011 and expects $3.8-4.2 billion in cumulative pretax savings from 2008-2013. Merck anticipates full-year 2008 non-GAAP EPS of $3.28-$3.32 excluding certain items, and GAAP EPS of $3.45-$3.55.
Raytheon reported strong financial results for the third quarter of 2008, with sales up 12% and earnings per share up 17%. The company increased its full-year earnings guidance and announced a new $2 billion share repurchase plan. All of Raytheon's business segments experienced sales growth in the quarter.
YRC Worldwide reported second quarter 2008 diluted earnings per share of $0.62, including various one-time gains and losses. Revenue decreased 3.5% from the second quarter of 2007. YRC National Transportation saw a 19.6% decrease in operating income due to lower tonnage, while YRC Regional Transportation operating income declined 86.3% from a year ago. The company expects third quarter 2008 earnings between $1.05-$1.15 per share, including curtailment gains of $0.70 per share and increased union costs of $0.15 per share.
YRC Worldwide reported second quarter 2008 diluted earnings per share of $0.62, including various one-time gains and losses. Revenue decreased 3.5% from the second quarter of 2007. YRC National Transportation saw a 19.6% decrease in operating income due to lower tonnage, while YRC Regional Transportation operating income declined 86.3% from a year ago. The company expects third quarter 2008 earnings between $1.05-$1.15 per share, including curtailment gains of $0.70 per share and increased union costs of $0.15 per share.
Celanese Corporation reported significantly lower fourth quarter and full year 2008 results compared to the prior year period due to weak global demand and unprecedented inventory destocking throughout its supply chains. Fourth quarter net sales were down 27% and operating profit turned to a loss of $152 million compared to a profit of $324 million in the prior year period. For the full year, net sales decreased 6% while operating profit fell 41% to $440 million. The company took actions to reduce costs and align production with current demand levels. It expects earnings to improve through 2009 but the global economic environment to remain weak.
- Chevron reported net income of $6 billion for Q2 2008, up 11% from $5.4 billion in Q2 2007, driven by higher oil prices boosting upstream income. However, higher crude oil costs erased profits for downstream operations.
- International upstream profits doubled to $5.1 billion due to oil price increases, while US upstream profits rose nearly $1 billion. However, downstream operations incurred losses in both the US and internationally due to the inability to fully pass on higher crude costs.
- Capital and exploratory expenditures totaled $5.2 billion in Q2 2008, up from $4.5 billion a year earlier, with 82% spent on upstream projects.
Merck announced financial results for Q4 and full-year 2008. Q4 non-GAAP EPS was $0.87 excluding restructuring charges, and GAAP EPS was $0.78. Full-year 2008 non-GAAP EPS was $3.42 excluding certain items, and GAAP EPS was $3.64. Worldwide sales for Q4 2008 decreased 3% to $6 billion, and decreased 1% to $23.9 billion for full-year 2008. Merck also reaffirmed its guidance for 2009, expecting non-GAAP EPS of $3.15-$3.30 excluding restructuring charges, and GAAP EPS of $2.95-$3.17.
Merck announced financial results for Q4 and full-year 2008. Q4 non-GAAP EPS was $0.87 excluding restructuring charges, and GAAP EPS was $0.78. Full-year 2008 non-GAAP EPS was $3.42 excluding certain items, and GAAP EPS was $3.64. Worldwide sales for Q4 2008 decreased 3% to $6 billion, and decreased 1% to $23.9 billion for full-year 2008. Merck reaffirmed its 2009 non-GAAP EPS guidance of $3.15-$3.30 excluding certain items, and GAAP EPS guidance of $2.95-$3.17. Newer products like J
Northrop Grumman reported third quarter 2008 results, including a 6% increase in sales to $8.4 billion and a 4% increase in earnings from continuing operations to $509 million compared to the third quarter of 2007. Earnings per share from continuing operations increased 6% to $1.50. Based on the strong results, Northrop Grumman raised its full year 2008 guidance for earnings from continuing operations to a range of $5.10 to $5.20 per share. New business awards totaled $11.5 billion, resulting in a record backlog of $70.1 billion.
Northrop Grumman reported financial results for Q3 2008 with the following highlights:
- Earnings per share increased 6% to $1.50 compared to Q3 2007.
- Sales for Q3 2008 increased 6% to $8.4 billion.
- New business awards totaled $11.5 billion, bringing total backlog to a record $70.1 billion.
- Cash from operations increased 35% to $1.4 billion for the quarter.
Spectra Energy reported higher third quarter 2008 results compared to the prior year quarter, with net income up 26% and ongoing net income up 26%. All business segments performed strongly due to higher commodity prices and operating performance. The company completed its 2008 capital expansion plan, which will provide returns at the top end of the targeted range of approximately 12%. Spectra Energy expects to exceed its 2008 EPS target of $1.56.
Raytheon reported strong financial results for the first quarter of 2008. Sales increased 11% to $5.4 billion compared to the first quarter of 2007, driven by growth across all business segments. Operating income rose 17% to $608 million due to increased volume and lower expenses. Earnings per share from continuing operations increased 31% to $0.93. The company also achieved record backlog of $37.7 billion and solid bookings of $6.5 billion during the quarter. Raytheon reaffirmed its full-year 2008 guidance and expects continued growth.
CC Media Holdings reported financial results for Q4 and full year 2008. Q4 revenue was $1.6 billion, down 14% year-over-year, and full year revenue was $6.7 billion, down 3%. Operating expenses grew 3% in Q4 and 5% for the full year. The company reported a large net loss of $4.99 billion in Q4 and $4.6 billion for the full year, primarily due to a $5.3 billion impairment charge. OIBDAN (operating income before depreciation and amortization) declined 50% in Q4 to $309 million and 21% for the full year to $1.8 billion. The company also announced
Olympic Steel reported financial results for the first quarter of 2009 with a net loss of $25.5 million compared to net income of $13.2 million in the first quarter of 2008. Net sales decreased 48.8% to $140.9 million due to a 45.6% decrease in tons sold. The results were negatively impacted by a $30.6 million inventory write-down and weaker demand and pricing due to the economic downturn. The company expects results to improve as market conditions stabilize but approved a reduced quarterly dividend.
Tribune Company reported lower revenues and operating profits in the first quarter of 2008 compared to the same period in 2007. Revenues declined 7.8% to $1.1 billion due to decreases in publishing and radio/entertainment revenues. Operating profit fell 21.2% to $143.4 million as profits declined across all business segments. The publishing segment saw the largest profit drop, with operating profit declining 73.9% due to lower revenues and higher severance costs.
Tribune Company reported lower revenues and operating profits in the first quarter of 2008 compared to the same period in 2007. Revenues declined 7.8% to $1.1 billion due to decreases at the Publishing and Broadcasting & Entertainment segments. Overall operating profit fell 21.2% to $143.4 million due to lower profits at Publishing and higher losses at Corporate, partially offset by higher profits at Broadcasting & Entertainment. Net income increased significantly to $1.8 billion primarily due to a large non-operating tax adjustment related to a change in the company's tax status.
CC Media Holdings reported third quarter 2008 results. It was formed in 2007 by private equity firms to acquire Clear Channel Communications, which became its wholly owned subsidiary after the acquisition closed on July 30, 2008. CC Media Holdings reported $1.7 billion in third quarter revenue, a 4% decrease from the previous year. Operating expenses increased 5% to $1.2 billion due to factors including $30.6 million in non-cash compensation from equity awards that vested in the merger. The company reported a loss of $86.1 million before discontinued operations, compared to a $253.4 million profit in the previous year, with merger expenses contributing to the decline.
- Tribune Company reported a net loss of $4.5 billion for Q2 2008 compared to net income of $36 million in Q2 2007. This was largely due to a $3.8 billion write-down of intangible assets.
- Operating revenues declined 5.7% year-over-year to $1.1 billion in Q2 2008. Operating expenses increased significantly due to the $3.8 billion write-down.
- For the first half of 2008, Tribune reported a net loss of $2.7 billion compared to net income of $13 million in the first half of 2007, again largely due to the $3.8 billion intangible asset write-down.
Similar to hess 10/28/2008 Estimated Results for the Third Quarter of 2008 (20)
The document summarizes Alcoa's 1st quarter 2008 financial results and outlook. Key highlights include income from continuing operations of $303 million, revenues of $7.4 billion, and segment ATOI increasing 42% excluding packaging. Business conditions included lower aluminum prices, unfavorable currency and energy costs, and continued pressure in automotive. The outlook anticipates production increases and improved efficiencies. Alcoa reviews growth opportunities in aerospace, transportation, and infrastructure and discusses strategic priorities around profitable growth, competitive advantages, and disciplined execution.
- Alcoa reported income from continuing operations of $546 million or $0.66 per share for Q2 2008, an 80% increase over Q1 2008. Revenues increased 3% to $7.6 billion.
- Input costs continued to climb across the industry, with increases in caustic soda, calcined coke, fuel oil, and other materials. However, Alcoa saw double digit profit increases across all operating segments sequentially.
- Cash from operations exceeded $1 billion. The company repurchased $175 million in shares, reaching 10% of shares outstanding under the repurchase program. Global aluminum demand is expected to increase 7.9% in 2008 despite weakness in the US market.
- Alcoa reported net income of $268 million for 3Q 2008, which included $29 million for restructuring. Revenues were $7.2 billion, up from $6.5 billion in 3Q 2007 excluding divested businesses.
- The aluminum industry is facing significant increases in input costs such as caustic soda, calcined coke, ocean freight, and fuel oil. These rising costs have squeezed margins across the industry.
- Compared to 3Q 2007, Alcoa's income from continuing operations excluding special items fell from $340 million to $298 million due to higher costs that were only partially offset by productivity gains and price increases.
The document provides an overview of Alcoa's 4th quarter 2008 financial results and outlook for 1st quarter 2009. Key points include:
- 4Q 2008 loss from continuing operations of $929 million or $1.16 per share due to restructuring and impairment charges of $708 million.
- Revenue declined 18% sequentially to $5.7 billion on lower metal prices and market deterioration.
- Cash from operations was $608 million and cash on hand was $762 million.
- 1Q 2009 outlook includes further price declines and production cuts due to weak market conditions across key end markets.
The document summarizes Alcoa's annual shareholders meeting on May 8, 2008. It lists nominees for the board of directors to serve until 2011 and current directors. It also provides an executive council listing and forward-looking statements. Financial highlights from 2007 include record income and cash from operations. Q1 2008 results showed income from continuing operations of $303M excluding restructuring impacts. It outlines Alcoa's share repurchase program and total shareholder return, which outperformed indexes in 2007 and 2008 to date.
Alcoa endorses The Business Roundtable Principles of Corporate finance8
The document outlines principles of corporate governance established by The Business Roundtable. It discusses the roles and responsibilities of boards of directors, CEOs, management, stockholders, and other parties. The board's primary duties are selecting the CEO and overseeing management. Management runs day-to-day operations and informs the board of business status. Effective governance requires understanding these roles and their relationships with stockholders and other constituencies.
The Alcoa 1996 Annual Report provides the following information:
1) Alcoa's earnings in 1996 totaled $514.9 million with revenues of $13.1 billion and a return on equity of 11.6%. Before special charges, earnings were $637 million for a return on equity of 14.4%.
2) Over the past decade, Alcoa has made safety its top priority and has successfully reduced injury rates at its facilities around the world, demonstrating that continuous improvement is possible.
3) Alcoa has expanded its global operations over the past year through acquisitions and new contracts, and it aims to leverage its resources and technologies worldwide to remain the leader in the aluminum industry.
The document provides cable customer metrics and financial data for 2007 and 2008. It shows that the company gained over 4,000 revenue generating units (RGUs) in 2008 but lost 575 total video customers. Digital video customers and homes passed increased while average monthly revenue per video customer rose to $110.48. Total revenue increased over $2.5 billion from 2007 to 2008 while operating cash flow increased over $1 billion. Capital expenditures focused on growth areas like customer premise equipment and scalable infrastructure to support additional customers and services.
"Does Foreign Direct Investment Negatively Affect Preservation of Culture in the Global South? Case Studies in Thailand and Cambodia."
Do elements of globalization, such as Foreign Direct Investment (FDI), negatively affect the ability of countries in the Global South to preserve their culture? This research aims to answer this question by employing a cross-sectional comparative case study analysis utilizing methods of difference. Thailand and Cambodia are compared as they are in the same region and have a similar culture. The metric of difference between Thailand and Cambodia is their ability to preserve their culture. This ability is operationalized by their respective attitudes towards FDI; Thailand imposes stringent regulations and limitations on FDI while Cambodia does not hesitate to accept most FDI and imposes fewer limitations. The evidence from this study suggests that FDI from globally influential countries with high gross domestic products (GDPs) (e.g. China, U.S.) challenges the ability of countries with lower GDPs (e.g. Cambodia) to protect their culture. Furthermore, the ability, or lack thereof, of the receiving countries to protect their culture is amplified by the existence and implementation of restrictive FDI policies imposed by their governments.
My study abroad in Bali, Indonesia, inspired this research topic as I noticed how globalization is changing the culture of its people. I learned their language and way of life which helped me understand the beauty and importance of cultural preservation. I believe we could all benefit from learning new perspectives as they could help us ideate solutions to contemporary issues and empathize with others.
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In this presentation, we will explore the rise of generative AI in finance and its potential to reshape the industry. We will discuss how generative AI can be used to develop new products, combat fraud, and revolutionize risk management. Finally, we will address some of the ethical considerations and challenges associated with this powerful technology.
STREETONOMICS: Exploring the Uncharted Territories of Informal Markets throug...sameer shah
Delve into the world of STREETONOMICS, where a team of 7 enthusiasts embarks on a journey to understand unorganized markets. By engaging with a coffee street vendor and crafting questionnaires, this project uncovers valuable insights into consumer behavior and market dynamics in informal settings."
Abhay Bhutada Leads Poonawalla Fincorp To Record Low NPA And Unprecedented Gr...Vighnesh Shashtri
Under the leadership of Abhay Bhutada, Poonawalla Fincorp has achieved record-low Non-Performing Assets (NPA) and witnessed unprecedented growth. Bhutada's strategic vision and effective management have significantly enhanced the company's financial health, showcasing a robust performance in the financial sector. This achievement underscores the company's resilience and ability to thrive in a competitive market, setting a new benchmark for operational excellence in the industry.
Abhay Bhutada, the Managing Director of Poonawalla Fincorp Limited, is an accomplished leader with over 15 years of experience in commercial and retail lending. A Qualified Chartered Accountant, he has been pivotal in leveraging technology to enhance financial services. Starting his career at Bank of India, he later founded TAB Capital Limited and co-founded Poonawalla Finance Private Limited, emphasizing digital lending. Under his leadership, Poonawalla Fincorp achieved a 'AAA' credit rating, integrating acquisitions and emphasizing corporate governance. Actively involved in industry forums and CSR initiatives, Abhay has been recognized with awards like "Young Entrepreneur of India 2017" and "40 under 40 Most Influential Leader for 2020-21." Personally, he values mindfulness, enjoys gardening, yoga, and sees every day as an opportunity for growth and improvement.
5 Tips for Creating Standard Financial ReportsEasyReports
Well-crafted financial reports serve as vital tools for decision-making and transparency within an organization. By following the undermentioned tips, you can create standardized financial reports that effectively communicate your company's financial health and performance to stakeholders.
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hess 10/28/2008 Estimated Results for the Third Quarter of 2008
1. HESS CORPORATION
Investor Contact: Jay Wilson
(212) 536-8940
Media Contact: Jon Pepper
(212) 536-8550
HESS REPORTS ESTIMATED RESULTS FOR THE THIRD QUARTER OF 2008
Third Quarter Highlights:
• Net Income was $775 million compared with $395 million in third quarter 2007
• Cash flows from operations were $1.2 billion compared with $863 million in third quarter 2007
• Oil and gas production was 361,000 barrels per day, up from 357,000 in third quarter 2007
• Debt to capitalization ratio decreased to 24.3 percent at September 30, 2008, from 28.9 percent at
December 31, 2007
NEW YORK, October 29, 2008 -- Hess Corporation (NYSE: HES) reported net income of $775
million for the third quarter of 2008 compared with net income of $395 million for the third
quarter of 2007. The after-tax results by major operating activity were as follows:
Three Months Ended Nine Months Ended
September 30, (unaudited) September 30, (unaudited)
2008 2007 2008 2007
(In millions, except per share amounts)
Exploration and Production $ 699 $ 414 $ 2,548 $ 1,259
Marketing and Refining 161 46 125 269
Corporate (42) (28) (114) (91)
Interest expense (43) (37) (125) (115)
Net income $ 775 $ 395 $ 2,434 $ 1,322
Net income per share (diluted) $ 2.37 $ 1.23 $ 7.47 $ 4.15
Weighted average number of shares (diluted) 327.4 319.9 325.7 318.6
Note: See the following page for a table of items affecting the comparability of earnings between periods.
Exploration and Production earnings were $699 million in the third quarter of 2008
compared with $414 million in the third quarter of 2007. The Corporation’s oil and gas
production, on a barrel-of-oil equivalent basis, increased to 361,000 barrels per day in the third
quarter of 2008 from 357,000 barrels per day in the third quarter of the prior year. In the third
quarter of 2008, the Corporation’s average worldwide crude oil selling price, including the effect
of hedging, improved to $93.36 per barrel from $65.26 per barrel in the third quarter of 2007.
The Corporation’s average worldwide natural gas selling price, including the effect of hedging,
was $7.60 per Mcf in the third quarter of 2008 compared with $5.38 per Mcf in the third quarter
of the prior year.
1
2. Marketing and Refining earnings were $161 million in the third quarter of 2008 compared
with $46 million in the third quarter of 2007, primarily reflecting higher margins. Refining
earnings increased to $46 million in the third quarter of 2008 compared with $25 million in the
third quarter of the prior year. Marketing earnings were $110 million in the third quarter of 2008
up from $21 million in the third quarter of 2007. Trading operations generated income of $5
million in the third quarter of 2008 compared with breakeven results in the same quarter of 2007.
The following table reflects the total after-tax impact of items affecting comparability of
earnings between periods (in millions):
Three Months Ended Nine Months Ended
September 30, September 30,
2008 2007 2008 2007
Exploration and Production $ - $ (33) $ - $ (18)
Marketing and Refining - - - -
Corporate - - - -
$ - $ (33) $ - $ (18)
Net cash provided by operating activities was $1,205 million in the third quarter of 2008
compared with $863 million in the third quarter of 2007. Capital and exploratory expenditures for
the third quarter of 2008 amounted to $1,368 million, of which $1,338 million related to
Exploration and Production operations. Capital and exploratory expenditures for the third
quarter of 2007 amounted to $838 million, of which $800 million related to Exploration and
Production operations.
At September 30, 2008, cash and cash equivalents totaled $1,380 million compared with
$607 million at December 31, 2007. Total debt was $3,932 million at September 30, 2008 and
$3,980 million at December 31, 2007. The Corporation’s debt to capitalization ratio at
September 30, 2008 was 24.3 percent compared with 28.9 percent at the end of 2007.
Hess Corporation will review third quarter financial and operating results and other
matters on a webcast at 10 a.m. today. For details on the event, refer to the Investor Relations
section of our website at www.hess.com.
Hess Corporation, with headquarters in New York, is a leading global independent energy
company engaged in the exploration for and production of crude oil and natural gas, as well as
in refining and marketing refined petroleum products, natural gas and electricity. More
information on Hess Corporation is available at www.hess.com.
Forward Looking Statements
Certain statements in this release may constitute quot;forward-looking statementsquot; within the meaning of Section 21E of the United States
Securities Exchange Act of 1934, as amended, and Section 27A of the United States Securities Act of 1933, as amended. Forward-looking
statements are subject to known and unknown risks and uncertainties and other factors which may cause actual results to differ materially
from those expressed or implied by such statements, including, without limitation, uncertainties inherent in the measurement and
interpretation of geological, geophysical and other technical data.
2
3. HESS CORPORATION AND CONSOLIDATED SUBSIDIARIES
SUPPLEMENTAL FINANCIAL DATA (UNAUDITED)
(IN MILLIONS OF DOLLARS)
Third Third Second
Quarter Quarter Quarter
2008 2007 2008
Income Statement
Revenues and Non-operating Income
Sales (excluding excise taxes) and other operating revenues $ 11,398 $ 7,451 $ 11,717
Equity in income (loss) of HOVENSA L.L.C. 52 19 (19)
Other, net (62) 34 37
Total revenues and non-operating income 11,388 7,504 11,735
Costs and Expenses
Cost of products sold (excluding items shown separately below) 8,165 5,322 8,354
Production expenses 503 394 494
Marketing expenses 266 238 267
Exploration expenses, including dry holes
and lease impairment 157 131 158
Other operating expenses 62 45 47
General and administrative expenses 170 133 156
Interest expense 68 59 65
Depreciation, depletion and amortization 497 365 482
Total costs and expenses 9,888 6,687 10,023
Income before income taxes 1,500 817 1,712
Provision for income taxes 725 422 812
Net income $ 775 $ 395 $ 900
Supplemental Income Statement Information
Foreign currency gains (losses), after-tax $ (10) $ 1 $ 1
Capitalized interest 2 18 1
Cash Flow Information
Net cash provided by operating activities (*) $ 1,205 $ 863 $ 1,691
Capital and Exploratory Expenditures
Exploration and Production
United States $ 509 $ 270 $ 721
International 829 530 484
Total Exploration and Production 1,338 800 1,205
Marketing, Refining and Corporate 30 38 35
Total Capital and Exploratory Expenditures $ 1,368 $ 838 $ 1,240
Exploration expenses charged to income included above
United States $ 56 $ 67 $ 44
International 35 36 40
$ 91 $ 103 $ 84
(*) Includes changes in working capital
3
4. HESS CORPORATION AND CONSOLIDATED SUBSIDIARIES
SUPPLEMENTAL FINANCIAL DATA (UNAUDITED)
(IN MILLIONS OF DOLLARS)
Nine Months
2008 2007
Income Statement
Revenues and Non-operating Income
Sales (excluding excise taxes) and other operating revenues $ 33,782 $ 22,191
Equity in income of HOVENSA L.L.C. 23 156
Gain on asset sales - 21
Other, net 38 56
Total revenues and non-operating income 33,843 22,424
Costs and Expenses
Cost of products sold (excluding items shown separately below) 24,237 15,922
Production expenses 1,421 1,118
Marketing expenses 766 701
Exploration expenses, including dry holes
and lease impairment 467 314
Other operating expenses 154 115
General and administrative expenses 478 406
Interest expense 200 185
Depreciation, depletion and amortization 1,431 1,046
Total costs and expenses 29,154 19,807
Income before income taxes 4,689 2,617
Provision for income taxes 2,255 1,295
Net income $ 2,434 $ 1,322
Supplemental Income Statement Information
Foreign currency gains (losses), after-tax $ 2 $ (10)
Capitalized interest 4 49
Cash Flow Information
Net cash provided by operating activities (*) $ 4,072 $ 2,701
Capital and Exploratory Expenditures
Exploration and Production
United States $ 1,645 $ 1,312
International 1,836 1,606
Total Exploration and Production 3,481 2,918
Marketing, Refining and Corporate 97 94
Total Capital and Exploratory Expenditures $ 3,578 $ 3,012
Exploration expenses charged to income included above
United States $ 162 $ 149
International 134 90
$ 296 $ 239
(*) Includes changes in working capital
4
5. HESS CORPORATION AND CONSOLIDATED SUBSIDIARIES
SUPPLEMENTAL FINANCIAL DATA (UNAUDITED)
(IN MILLIONS OF DOLLARS)
September 30, December 31,
2008 2007
Balance Sheet Information
Cash and cash equivalents $ 1,380 $ 607
Other current assets 6,786 6,319
Investments 1,108 1,117
Property, plant and equipment – net 16,656 14,634
Other long-term assets 3,648 3,454
Total assets $ 29,578 $ 26,131
Current maturities of long-term debt $ 39 $ 62
Other current liabilities 8,721 7,962
Long-term debt 3,893 3,918
Other long-term liabilities 4,694 4,415
Stockholders' equity excluding other comprehensive income (loss) 14,149 11,615
Accumulated other comprehensive income (loss) (1,918) (1,841)
Total liabilities and stockholders' equity $ 29,578 $ 26,131
5
6. HESS CORPORATION AND CONSOLIDATED SUBSIDIARIES
EXPLORATION AND PRODUCTION EARNINGS (UNAUDITED)
(IN MILLIONS OF DOLLARS)
Third Quarter 2008
United
States International Total
Sales and other operating revenues $ 460 $ 2,201 $ 2,661
Non-operating income (expenses) (1) (70) (71)
Total revenues and non-operating income 459 2,131 2,590
Costs and expenses
Production expenses, including related taxes 96 407 503
Exploration expenses, including dry holes
and lease impairment 82 75 157
General, administrative and other expenses 41 43 84
Depreciation, depletion and amortization 59 420 479
Total costs and expenses 278 945 1,223
Results of operations before income taxes 181 1,186 1,367
Provision for income taxes 71 597 668
Results of operations $ 110 $ 589 $ 699
Third Quarter 2007
United
States International Total
Sales and other operating revenues $ 296 $ 1,451 $ 1,747
Non-operating income (expenses) 1 29 30
Total revenues and non-operating income 297 1,480 1,777
Costs and expenses
Production expenses, including related taxes 80 314 394
Exploration expenses, including dry holes
and lease impairment 79 52 131
General, administrative and other expenses 27 37 64
Depreciation, depletion and amortization 48 297 345
Total costs and expenses 234 700 934
Results of operations before income taxes 63 780 843
Provision for income taxes 25 404 429
Results of operations $ 38 $ 376 $ 414
Second Quarter 2008
United
States International Total
Sales and other operating revenues $ 545 $ 2,530 $ 3,075
Non-operating income (expenses) - 22 22
Total revenues and non-operating income 545 2,552 3,097
Costs and expenses
Production expenses, including related taxes 101 393 494
Exploration expenses, including dry holes
and lease impairment 62 96 158
General, administrative and other expenses 36 37 73
Depreciation, depletion and amortization 61 401 462
Total costs and expenses 260 927 1,187
Results of operations before income taxes 285 1,625 1,910
Provision for income taxes 108 777 885
Results of operations $ 177 $ 848 $ 1,025
6
7. HESS CORPORATION AND CONSOLIDATED SUBSIDIARIES
EXPLORATION AND PRODUCTION EARNINGS (UNAUDITED)
(IN MILLIONS OF DOLLARS)
Nine Months 2008
United
States International Total
Sales and other operating revenues $ 1,453 $ 6,890 $ 8,343
Non-operating income (expenses) 9 (11) (2)
Total revenues and non-operating income 1,462 6,879 8,341
Costs and expenses
Production expenses, including related taxes 267 1,154 1,421
Exploration expenses, including dry holes
and lease impairment 227 240 467
General, administrative and other expenses 109 111 220
Depreciation, depletion and amortization 175 1,200 1,375
Total costs and expenses 778 2,705 3,483
Results of operations before income taxes 684 4,174 4,858
Provision for income taxes 263 2,047 2,310
Results of operations $ 421 $ 2,127 $ 2,548
Nine Months 2007
United
States International Total
Sales and other operating revenues $ 810 $ 4,250 $ 5,060
Non-operating income (expenses) 9 43 52
Total revenues and non-operating income 819 4,293 5,112
Costs and expenses
Production expenses, including related taxes 209 909 1,118
Exploration expenses, including dry holes
and lease impairment 180 134 314
General, administrative and other expenses 94 89 183
Depreciation, depletion and amortization 129 862 991
Total costs and expenses 612 1,994 2,606
Results of operations before income taxes 207 2,299 2,506
Provision for income taxes 81 1,166 1,247
Results of operations $ 126 $ 1,133 $ 1,259
7
8. HESS CORPORATION AND CONSOLIDATED SUBSIDIARIES
EXPLORATION AND PRODUCTION SUPPLEMENTAL OPERATING DATA (UNAUDITED)
Third Third Second
Quarter Quarter Quarter
2008 2007 2008
Operating Data
Net Production Per Day (in thousands)
Crude oil - barrels
United States 31 31 36
Europe 80 83 83
Africa 121 123 128
Asia and other 12 20 12
Total 244 257 259
Natural gas liquids - barrels
United States 9 11 11
Europe 4 3 4
Total 13 14 15
Natural gas - mcf
United States 76 87 83
Europe 216 188 267
Asia and other 333 241 364
Total 625 516 714
Barrels of oil equivalent 361 357 393
Average Selling Price
Crude oil - per barrel (including hedging)
United States $ 116.14 $ 73.20 $ 120.23
Europe 83.23 62.06 104.98
Africa 91.72 64.38 97.32
Asia and other 105.58 70.69 120.59
Worldwide 93.36 65.26 104.29
Crude oil - per barrel (excluding hedging)
United States $ 116.14 $ 73.20 $ 120.23
Europe 83.23 62.06 104.98
Africa 108.49 73.49 117.49
Asia and other 105.58 70.69 120.59
Worldwide 102.80 69.85 113.79
Natural gas liquids - per barrel
United States $ 77.50 $ 51.27 $ 76.60
Europe 81.84 48.44 92.67
Worldwide 78.50 50.58 81.52
Natural gas - per mcf (including hedging)
United States $ 8.57 $ 5.80 $ 11.00
Europe 10.12 6.09 10.33
Asia and other 5.77 4.69 5.23
Worldwide 7.60 5.38 7.81
Natural gas - per mcf (excluding hedging)
United States $ 8.57 $ 5.80 $ 11.00
Europe 10.84 6.09 10.84
Asia and other 5.77 4.69 5.23
Worldwide 7.85 5.38 8.01
8
9. HESS CORPORATION AND CONSOLIDATED SUBSIDIARIES
EXPLORATION AND PRODUCTION SUPPLEMENTAL OPERATING DATA (UNAUDITED)
Nine Months
2008 2007
Operating Data
Net Production Per Day (in thousands)
Crude oil - barrels
United States 34 31
Europe 82 96
Africa 123 112
Asia and other 14 20
Total 253 259
Natural gas liquids - barrels
United States 10 10
Europe 4 5
Total 14 15
Natural gas - mcf
United States 84 87
Europe 260 249
Asia and other 346 254
Total 690 590
Barrels of oil equivalent 382 372
Average Selling Price
Crude oil - per barrel (including hedging)
United States $ 109.39 $ 62.88
Europe 90.69 56.95
Africa 89.66 57.72
Asia and other 106.09 66.59
Worldwide 93.62 58.82
Crude oil - per barrel (excluding hedging)
United States $ 109.39 $ 62.88
Europe 90.69 56.95
Africa 106.91 66.47
Asia and other 106.09 66.59
Worldwide 102.03 62.66
Natural gas liquids - per barrel
United States $ 72.79 $ 47.43
Europe 84.77 51.55
Worldwide 75.96 48.83
Natural gas - per mcf (including hedging)
United States $ 9.35 $ 6.75
Europe 9.75 5.03
Asia and other 5.33 4.55
Worldwide 7.48 5.08
Natural gas - per mcf (excluding hedging)
United States $ 9.35 $ 6.75
Europe 10.16 5.03
Asia and other 5.33 4.55
Worldwide 7.64 5.08
9
10. HESS CORPORATION AND CONSOLIDATED SUBSIDIARIES
EXPLORATION AND PRODUCTION SUPPLEMENTAL HEDGING INFORMATION (UNAUDITED)
The following is a summary of the Corporation’s outstanding Brent crude oil hedges at September
30, 2008:
Average Thousands
Selling of Barrels
Price per Day
Maturities
2008 $ 25.56 24
2009 25.54 24
2010 25.78 24
2011 26.37 24
2012 26.90 24
The after-tax losses from crude oil and natural gas hedges were $138 million in the third quarter
of 2008 and $60 million in the third quarter of 2007. The after-tax losses from crude oil and natural
gas hedges were $377 million for the nine months of 2008 compared with $155 million for the
nine months of 2007. At September 30, 2008, the after-tax deferred losses related to crude oil
and natural gas hedges that were included in accumulated other comprehensive income
amounted to $1.7 billion.
In October 2008, the Corporation closed its Brent crude oil hedge positions by entering into
offsetting contracts covering 24,000 barrels per day from 2009 through 2012 at a per barrel price
of $86.95 each year. The fourth quarter 2008 hedges were not affected by these transactions
and are still open. The deferred after-tax loss as of the date the positions were closed will be
recorded in earnings as the contracts mature.
10
11. HESS CORPORATION AND CONSOLIDATED SUBSIDIARIES
MARKETING AND REFINING SUPPLEMENTAL FINANCIAL AND OPERATING DATA (UNAUDITED)
Third Third Second
Quarter Quarter Quarter
2008 2007 2008
Financial Information (in millions of dollars)
Marketing and Refining Results
Income (loss) before income taxes $ 262 $ 75 $ (85)
Provision (benefit) for income taxes 101 29 (33)
Marketing and Refining Earnings (Loss) $ 161 $ 46 $ (52)
Summary of Marketing and Refining Results
Refining $ 46 $ 25 $ 3
Marketing 110 21 (40)
Trading 5 - (15)
Total Marketing and Refining Earnings (Loss) $ 161 $ 46 $ (52)
Operating Data (barrels and gallons in thousands)
Refined Product Sales (barrels per day)
Gasoline 249 216 236
Distillates 122 134 129
Residuals 46 45 49
Other 43 42 40
Total 460 437 454
Refinery Throughput (barrels per day)
HOVENSA - Crude runs 457 459 471
HOVENSA - Hess 50% share 228 230 235
Port Reading 65 61 64
Refinery Utilization Refinery Capacity
HOVENSA (barrels per day)
Crude 500 91.3% 91.9% 94.2%
FCC 150 72.8% 82.4% 73.1%
Coker 58 105.4% 92.6% 99.5%
Port Reading 70 (c) 92.4% 93.8% 91.3%
Retail Marketing
Number of retail stations (a) 1,357 1,362 1,363
Convenience store revenue (in millions of dollars) (b) $ 279 $ 279 $ 275
Average gasoline volume per station (gallons per month) (b) 215 232 218
(a) Includes company operated, Wilco-Hess, dealer and branded retailer.
(b) Company operated only.
(c) Refinery utilization in 2007 is based on capacity of 65 thousand barrels per day.
11
12. HESS CORPORATION AND CONSOLIDATED SUBSIDIARIES
MARKETING AND REFINING SUPPLEMENTAL FINANCIAL AND OPERATING DATA (UNAUDITED)
Nine Months
2008 2007
Financial Information (in millions of dollars)
Marketing and Refining Results
Income before income taxes $ 198 $ 430
Provision for income taxes 73 161
Marketing and Refining Earnings (Loss) $ 125 $ 269
Summary of Marketing and Refining Results
Refining $ 46 $ 166
Marketing 102 64
Trading (23) 39
Total Marketing and Refining Earnings (Loss) $ 125 $ 269
Operating Data (barrels and gallons in thousands)
Refined Product Sales (barrels per day)
Gasoline 236 212
Distillates 140 142
Residuals 54 63
Other 40 30
Total 470 447
Refinery Throughput (barrels per day)
HOVENSA - Crude runs 458 442
HOVENSA - Hess 50% share 229 221
Port Reading 63 60
Refinery Utilization Refinery Capacity
HOVENSA (barrels per day)
Crude 500 91.5% 88.4%
FCC 150 73.4% 87.8%
Coker 58 98.8% 78.1%
Port Reading 70 (c) 90.3% 92.2%
Retail Marketing
Number of retail stations (a) 1,357 1,362
Convenience store revenue (in millions of dollars) (b) $ 793 $ 796
Average gasoline volume per station (gallons per month) (b) 210 217
(a) Includes company operated, Wilco-Hess, dealer and branded retailer.
(b) Company operated only.
(c) Refinery utilization in 2007 is based on capacity of 65 thousand barrels per day.
12