Hess Midstream Partners Lp (HESM)
NYSE:HESM
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Earnings Data
Report Date
Jul 29, 2026Before Open (Confirmed)
Period Ending
2026 (Q2)Consensus EPS Forecast
0.69Last Year’s EPS
0.74Same Quarter Last Year
Based on 4 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call conveyed a broadly positive outlook driven by materially higher adjusted free cash flow guidance (+20% at midpoint), disciplined capital allocation (CapEx reduced by ~1/3), a $60 million accretive buyback, maintained high margins (~83%), and contractual protections that provide revenue visibility. Countervailing near-term headwinds include severe winter-weather-driven softness in Q1 revenues and EBITDA, planned Q2 maintenance (5–10 MMcf/d impact) and some quarter-to-quarter variability in terminaling revenues. Management expects continued shareholder returns, debt reduction, and stable operations, with full-year EBITDA roughly flat versus prior year but strong free cash flow enabling returns and deleveraging.Company Guidance
Raised 2026 Adjusted Free Cash Flow Guidance
Increased full-year 2026 adjusted free cash flow guidance to $910 million–$960 million, representing a ~20% year-over-year increase at the midpoint.
Share Repurchase and Distribution Increase
Completed an accretive $60 million share and unit repurchase in March and increased the Class A distribution by 2% (approximately 8% annualized), while maintaining a targeted 5% annual distribution growth.
Strong Q1 Adjusted Free Cash Flow and Margin
Reported Q1 adjusted free cash flow of $237 million, a 14% increase from Q4 2025, and maintained a gross adjusted EBITDA margin of ~83%, above the 75% target.
Robust Throughput Levels
Q1 throughput averaged 430 million cubic feet per day (gas processing), 119,000 barrels per day (crude terminaling), and 115,000 barrels per day (water gathering), with guidance expecting growth through the rest of the year (aside from planned maintenance impacts).
Capital Expenditure Reduction
Reduced 2026 estimated capital expenditures by roughly one-third (from ~$150 million to approximately $100–105 million) driven by completion of major buildout, the second compressor station coming online, and upstream efficiencies like longer laterals.
Operational Execution and Asset Additions
Safely brought online the second of two new compressor stations and completed greenfield high-pressure gathering pipeline work started in 2025; first-quarter operations met guidance despite severe winter weather.
Strong Cash Returns and Debt Strategy
Guidance expects excess adjusted free cash flow of ~ $280 million after funding targeted distribution growth to be used for incremental shareholder returns and debt repayment; management expects leverage to decline from ~3.0x toward ~2.5x by 2028.
Contractual Revenue Protection
Approximately 85% of revenues are fixed fee and key contracts (including terminaling and water gathering) have cost-of-service structures and protections (MVCs through 2028 and tariffs through 2033), providing visibility and downside protection.
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 |
|---|---|---|---|
May 04, 2026 | $37.34 | $38.71 | +3.67% |
Feb 02, 2026 | $34.01 | $33.53 | -1.41% |
Nov 03, 2025 | $31.83 | $32.31 | +1.53% |
Jul 30, 2025 | $37.99 | $39.30 | +3.46% |
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 Lp (HESM) report earnings?
Hess Midstream Partners Lp (HESM) is schdueled to report earning on Jul 29, 2026, Before Open (Confirmed).
What is Hess Midstream Partners Lp (HESM) earnings time?
Hess Midstream Partners Lp (HESM) earnings time is at Jul 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 (Q2) is 0.69.