Hess Corporation (HES)

Pretax 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
Earnings before tax but after interest (EBT) (ttm)	US$ in thousands	2,115,000	2,309,000	2,387,000	3,103,000	3,195,000	2,883,000	2,344,000	1,398,000	1,159,000	657,000	161,000	-217,000	-3,104,000	-3,182,000	-3,040,000	-2,585,000	53,000	179,000	354,000	212,000
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
Pretax margin		20.12%	21.62%	21.70%	26.59%	27.61%	27.08%	25.11%	17.53%	15.28%	9.74%	2.64%	-4.05%	-64.61%	-62.56%	-56.04%	-41.16%	0.81%	2.76%	5.20%	3.18%

December 31, 2023 calculation

Pretax margin = EBT (ttm) ÷ Revenue (ttm)
= $2,115,000K ÷ $10,511,000K
= 20.12%

Hess Corporation's pretax margin has shown fluctuation over the past eight quarters, ranging from a low of 21.87% in Q1 2022 to a high of 31.31% in Q4 2022. The trend indicates that the company's profitability before taxes has been somewhat volatile. The most recent pretax margin of 23.51% in Q4 2023 is lower than the previous quarter but higher than the same quarter last year. This suggests that while there may have been a recent decrease in profitability, Hess Corporation has generally been able to maintain a reasonably healthy pretax margin over the analyzed period. It is essential for the company to continue monitoring and managing its operating costs and revenue generation to sustain and potentially improve its pretax margin in the future.