Quarterly ResultMay 4, 2026, 08:02 AM
Hess Midstream Q1 Net Income $157.7M; Raises 2026 Adj. Free Cash Flow Guidance
AI Summary
Hess Midstream LP reported estimated first-quarter 2026 net income of $157.7 million, with net income attributable to Hess Midstream LP at $87.6 million, or $0.68 basic earnings per Class A share. Adjusted EBITDA reached $299.8 million and Adjusted Free Cash Flow was $237.0 million. The company updated its 2026 capital expenditures guidance to approximately $105 million and increased its full-year 2026 Adjusted Free Cash Flow guidance to $910 - $960 million, driven by lower capital expenditures and deferred income tax payments. Hess Midstream also increased its quarterly cash distribution and completed share repurchases.
Key Highlights
- Q1 2026 net income was $157.7 million, compared to $161.4 million in Q1 2025.
- Net income attributable to Hess Midstream LP was $87.6 million, or $0.68 basic EPS, up from $0.65 in Q1 2025.
- Adjusted EBITDA for Q1 2026 was $299.8 million, and Adjusted Free Cash Flow was $237.0 million.
- Completed $42.0 million repurchase of Class A shares and $18.0 million repurchase of Class B units.
- Increased quarterly cash distribution to $0.7792 per Class A share for Q1 2026, up $0.0151 from Q4 2025.
- Updated 2026 capital expenditures guidance to approximately $105 million.
- Increased full-year 2026 Adjusted Free Cash Flow guidance to $910 - $960 million.
- Reaffirmed full-year 2026 net income ($650 - $700 million) and Adjusted EBITDA ($1,225 - $1,275 million) guidance.