Hess Midstream Q3 net income $159.4M; raises FY 2022 guidance, volumes up 24% gas processing

Hess Midstream LP

Net income $159.4M ($0.53/share) vs $131.1M in Q3 2021; adj. EBITDA $253.6M, DCF $214.8M.
Gas processing volumes +24% YoY, gas gathering +20%, water gathering +12%; crude oil gathering -4%.
Raised FY2022 guidance: net income ~$630M, adj. EBITDA ~$990M, DCF ~$840M.
Q3 distribution $0.5627/share (+1.2% QoQ); targeting 5% annual growth through 2024 with coverage >1.5x in 2022.
Extended $1.4B credit facilities to July 2027; $5.9M remediation costs for produced water release.

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