Hess Midstream Q3 net income $131.1M, raises FY2021 EBITDA guidance to $895-905M

Hess Midstream LP

Net income $131.1M; attributable $9.9M ($0.39/share). Adjusted EBITDA $205.0M, DCF $171.5M, Adjusted FCF $119.8M.
Repurchased 31.25M Class B units from Hess and GIP for $750M, funded by 4.25% senior notes due 2030.
Raised FY2021 net income guidance to $605-615M and Adjusted EBITDA to $895-905M.
Q3 distribution $0.5104/share (+1.2% QoQ); reaffirms ≥5% annual growth through 2023.
Gas processing volumes down 4% YoY due to Tioga Gas Plant turnaround; crude oil gathering down 23%.

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