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Hess Midstream Partners (HESM)
NYSE:HESM
Earnings Data
Report Date
Apr 29, 2026Before Open (Confirmed)
Period Ending
2026 (Q1)Consensus EPS Forecast
0.64Last Year’s EPS
0.65Same Quarter Last Year
Based on 3 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call conveyed a predominantly positive outlook: management reported solid 2025 results (adjusted EBITDA +9% YoY), strong margins (~83%), completion of major infrastructure projects on time and on budget, and a clear path to materially lower capital spending that supports significant free cash flow growth (2026 FCF +12% at midpoint). Lowlights were largely transitory and weather-driven (Q4 and near-term volume pressure, ~$19M revenue decline in Q4, and some maintenance/interruptible volume weakness). High MVC coverage (≈95% in 2026) and explicit capital allocation plans for distributions, share repurchases, and debt paydown materially mitigate downside risk. Overall, positive operational and financial drivers outweigh near-term weather-related challenges.Company Guidance
Full-Year Financial Performance
2025 adjusted EBITDA of $1.238 billion, representing approximately +9% growth versus 2024; full-year net income of approximately $685 million.
Strong Free Cash Flow Outlook
Projected adjusted free cash flow for 2026 of $850–$900 million, implying ~12% growth at the midpoint versus 2025; excess adjusted free cash flow of ~ $210 million after funding targeted 5% distribution growth.
Significant Capital Expenditure Reduction
2026 capital spending expected at ~$150 million, a 40% reduction relative to 2025; 2027–2028 capex expected to be < $75 million, implying ~70% reduction versus 2025, enabling higher free cash flow generation.
High Revenue Protection via MVCs
Approximately 95% of 2026 revenues are covered by minimum volume commitments (MVCs), providing strong downside protection (90% MVC coverage in 2027 and 80% in 2028).
Strong Operating Margin
Fourth-quarter gross adjusted EBITDA margin of ~83%, well above the company target of ~75%, demonstrating continued operating leverage and efficiency.
Completion of Multiyear Build-Out
Multiyear gathering and compression projects completed on time and on budget, enabling the move to a lower capital intensity model and higher free cash flow conversion.
Capital Allocation Priorities
Management expects to use increased free cash flow to fund: targeted 5% per-share distribution growth through 2028, potential incremental share repurchases, and debt repayment; guidance expects natural deleveraging below ~3x as EBITDA grows.
Volume and Throughput Metrics (2025 & Q4)
Full-year 2025 average volumes: gas processing ~445 MMcf/d, crude terminaling ~129k bbl/d, water gathering ~131k bbl/d. Q4 averages: gas ~444 MMcf/d, crude terminaling ~122k bbl/d, water gathering ~124k bbl/d.
HESM Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
HESM Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
Feb 02, 2026 | $34.72 | $34.23 | -1.41% |
Nov 03, 2025 | $32.49 | $32.99 | +1.53% |
Jul 30, 2025 | $38.78 | $40.12 | +3.47% |
Apr 30, 2025 | $35.52 | $34.28 | -3.48% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does Hess Midstream Partners (HESM) report earnings?
Hess Midstream Partners (HESM) is schdueled to report earning on Apr 29, 2026, Before Open (Confirmed).
What is Hess Midstream Partners (HESM) earnings time?
Hess Midstream Partners (HESM) earnings time is at Apr 29, 2026, Before Open (Confirmed).
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is HESM EPS forecast?
HESM EPS forecast for the fiscal quarter 2026 (Q1) is 0.64.