Hess Corporation (HES)

Receivables turnover

		Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019
Revenue (ttm)	US$ in thousands	10,511,000	10,680,000	11,002,000	11,668,000	11,570,000	10,645,000	9,334,000	7,977,000	7,583,000	6,745,000	6,110,000	5,354,000	4,804,000	5,086,000	5,425,000	6,280,000	6,510,000	6,493,000	6,806,000	6,675,000
Receivables	US$ in thousands	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Receivables turnover		—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—

December 31, 2023 calculation

Receivables turnover = Revenue (ttm) ÷ Receivables
= $10,511,000K ÷ $—K
= —

The receivables turnover ratio of Hess Corporation has fluctuated over the past eight quarters. In Q2 2023, the company achieved the highest receivables turnover of 10.54, indicating that it collected its accounts receivable approximately 10.54 times during that quarter. This may suggest efficient management of its accounts receivable and prompt collection efforts.

However, the ratio dipped in subsequent quarters, with Q1 2022 recording the lowest turnover of 5.20. This could imply slower collections or an increase in outstanding receivables during that period. The overall trend suggests some variability in the company's ability to convert its credit sales into cash.

It is important to further investigate the reasons behind these fluctuations in the receivables turnover ratio to assess the company's credit policies, collection procedures, and overall liquidity management. Tracking changes in this ratio can provide insights into the efficiency of Hess Corporation's accounts receivable management and its impact on the company's cash flow and working capital position.