Hess Midstream Q1 net income $142.2M, EPS $0.47; raises distribution 2.7% QoQ

Hess Midstream LP

Net income attributable to Hess Midstream LP $20.7M ($0.47 basic EPS) vs $0.50 in Q1 2022.
Adjusted EBITDA $239.0M, DCF $196.6M, distribution coverage ~1.4x.
Quarterly distribution increased to $0.5851/Class A share, up 2.7% QoQ; payable May 12, 2023.
Completed $100M repurchase of Class B units in March 2023.
Reaffirmed FY2023 guidance: Adj. EBITDA $990M-$1,030M, DCF $815M-$855M.

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 1.0

Hess Midstream LP reported first quarter of 2023 results: revenue $305.0 million, net income $20.7 million, EPS $0.47 basic earnings per Class A share.

Period: first quarter of 2023
Revenue: $305.0 million
Net income: $20.7 million
EPS: $0.47 basic earnings per Class A share
Result: reported results

Exact text from the filing

these non‐GAAP measures to GAAP reporting measures appear in the following pages of this release. Financial Results Revenues and other income in the first quarter of 2023 were $305.0 million compared with $312.4 million in the prior-year quarter. First quarter 2023 revenues included $17.5 million of pass-through electricity, produced water trucking and disposal costs

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Hess Midstream LP filing history →

Source: SEC EDGAR

accession 0000950170-23-014571

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