Hess Corporation (HES)

Gross profit margin

		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
Gross profit (ttm)	US$ in thousands	9,946,000	9,889,000	10,252,000	10,962,000	10,978,000	10,286,000	8,972,000	7,592,000	7,157,000	6,349,000	5,680,000	4,922,000	2,190,000	2,427,000	2,689,000	3,544,000	5,961,000	5,922,000	6,280,000	6,109,000
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
Gross profit margin		94.62%	92.59%	93.18%	93.95%	94.88%	96.63%	96.12%	95.17%	94.38%	94.13%	92.96%	91.93%	45.59%	47.72%	49.57%	56.43%	91.57%	91.21%	92.27%	91.52%

December 31, 2023 calculation

Gross profit margin = Gross profit (ttm) ÷ Revenue (ttm)
= $9,946,000K ÷ $10,511,000K
= 94.62%

Hess Corporation has consistently maintained a gross profit margin of 100% across all quarters of the past two years, indicating that the company is effectively managing its production costs in relation to its revenue. A gross profit margin of 100% suggests that the company is generating revenue that fully covers the direct costs associated with producing its goods or services. This strong and consistent performance in gross profit margin reflects efficient cost control measures and competitive pricing strategies. Overall, Hess Corporation's ability to consistently achieve a gross profit margin of 100% demonstrates its operational efficiency and effectiveness in managing its cost structure.