Hess Midstream Q4 net income $165M; guides 2022 Adj EBITDA $970M-$1B, extends 5% distribution growth through 2024

Hess Midstream LP

Net income Q4 2021 $165.1M (up from $132.3M Q4 2020); attributable to HESM $16.9M or $0.51 per share.
Adjusted EBITDA $246.6M, DCF $215.0M; 2022 guidance: Adj EBITDA $970M-$1,000M, DCF $840M-$870M.
Declared Q4 distribution $0.5167/share, 5% annual growth target extended through 2024 with >1.4x coverage.
MVCs for 2024 established with 95% revenue protection for 2022; leverage expected ~2.6x in 2022.
Gas gathering volumes up 4% YoY; crude oil gathering down 18% due to reduced drilling activity.

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