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Hess Midstream LP Reports Estimated Results for the Third Quarter of 2026

Business Wire

Third Quarter 2026 Highlights:

  • Net income was $179.1 million. Net cash provided by operating activities was $267.9 million.

  • Net income attributable to Hess Midstream LP was $99.4 million, or $0.77 basic earnings per Class A share, after deduction for noncontrolling interests.

  • Adjusted EBITDA1 was $319.9 million and Adjusted Free Cash Flow1 was $247.9 million.

  • Increased quarterly cash distribution to $0.7985 per Class A share for the third quarter of 2026, an increase of $0.0097 per Class A share compared with the second quarter of 2026. The increase is in line with the targeted annual distribution per Class A share growth of at least 5% on an annualized basis.

HOUSTON, October 30, 2026--Hess Midstream LP (NYSE: HESM) ("Hess Midstream" or the "Company") today reported third quarter 2026 net income of $179.1 million compared with net income of $175.5 million for the third quarter of 2025. After deduction for noncontrolling interests, net income attributable to Hess Midstream was $99.4 million, or $0.77 basic earnings per Class A share, compared with $0.75 basic earnings per Class A share in the third quarter of 2025. Hess Midstream generated Adjusted EBITDA of $319.9 million. Net cash provided by operating activities was $267.9 million and Adjusted Free Cash Flow was $247.9 million.

"The third quarter of 2026 reflects our continued focus on managing costs while executing growth," said Jonathan Stein, Chief Executive Officer of Hess Midstream. "We have a solid operational foundation and a sustained track record for generating free cash flow after distributions, which we expect to provide a consistent base for future distributions, capital allocation and shareholder returns. We expect the transaction announced on October 6, 2026, to close by the end of the year and are excited to transform into a multi-basin, independent midstream company. The addition of the DJ Basin assets is expected to significantly diversify and increase the footprint of our business, approximately tripling our crude gathering throughput and significantly growing our gas gathering throughput, while also broadening our asset base with ownership in a long-haul crude oil pipeline, all of which positions us well to capture future growth."

Hess Midstream's results contained in this release are consolidated to include the noncontrolling interests in Hess Midstream Operations LP (the "Partnership") owned by our Sponsor. References to "Sponsor" or "Sponsors" refer to (a) Hess Corporation ("Hess") and Global Infrastructure Partners when referring to periods prior to May 30, 2025, (b) Hess from May 30, 2025, to July 17, 2025, and (c) Chevron from July 18, 2025. We refer to certain results as "attributable to Hess Midstream LP," which exclude the noncontrolling interests in the Partnership owned by the Sponsors.

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