Hess Reports 577% Profit Growth, Rewards Shareholders as Americans Struggle to Pay at the Pump
WASHINGTON, D.C. – This morning, Hess reported staggering third quarter profit growth and a continued flow of cash to investors as working families continue to pay inflated prices at the pump.
Here are the facts:
- Q3 Profits: $583 million, a 577.9% increase from Q3 2021
- $115 million spent on dividends
- $150 million spent on buybacks
Profits from more of the biggest oil corporations will be reported later this week and next, and are expected to show more greed on the part of Big Oil industry CEOs who will stop at nothing to boost their profits. On a related note, check out today’s story from E&E on Oil companies funding Republican super PACs.