Hess Midstream Partners Lp ( (HESM) ) has released its Q1 earnings. Here is a breakdown of the information Hess Midstream Partners Lp presented to its investors.
Hess Midstream LP is a fee-based, growth-oriented midstream company that operates in the energy sector, focusing on the ownership, operation, and development of midstream assets primarily in the Bakken and Three Forks Shale plays in North Dakota. The company provides services to Hess Corporation and third-party customers.
In its first quarter of 2025 earnings report, Hess Midstream LP announced a net income of $161.4 million, with net cash provided by operating activities amounting to $202.4 million. The company also reported an adjusted EBITDA of $292.3 million and adjusted free cash flow of $190.7 million. A notable highlight was the increase in quarterly cash distribution to $0.7098 per Class A share.
Key financial metrics for the first quarter of 2025 included an 8% increase in gas processing throughput volumes, a 7% rise in oil terminaling, and a 9% boost in water gathering compared to the previous year. Additionally, the company completed a $100 million repurchase of Class B units and issued $800 million in senior unsecured notes to refinance existing debt. Revenues for the quarter were $382.0 million, up from $355.6 million in the prior year, driven by higher physical volumes.
Hess Midstream LP’s management remains optimistic about the future, reaffirming its full-year 2025 financial and throughput guidance. The company continues to target at least 5% annual distribution growth per Class A share through 2027 and expects organic throughput volume growth across all systems relative to 2025 volume guidance.