Hess Midstream Q2 net income $147.9M, raises FY2023 EBITDA guidance to $1.0-1.03B

Hess Midstream LP

Net income $147.9M ($0.50/Class A share) vs $151.8M ($0.51) in Q2 2022; Adjusted EBITDA $248.1M.
Quarterly distribution raised to $0.6011/share (+2.7% QoQ); payable Aug 14, 2023 to holders of record Aug 3.
Completed $100M repurchase of Class B units in June 2023, second such buyback in 2023.
FY2023 guidance raised: net income $595-625M, Adjusted EBITDA $1,000-1,030M, DCF $820-850M.
Throughput volumes up YoY: gas processing +23%, gas gathering +19%, water gathering +34%.

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.85

Hess Midstream LP reported second quarter of 2023 results: revenue Revenues and other income in the second quarter of 2023 were $324.0 million, net income Net income attributable to Hess Midstream LP was $25.1 million, EPS $0.50 basic earnings per Class A share.

Period: second quarter of 2023
Revenue: Revenues and other income in the second quarter of 2023 were $324.0 million
Net income: Net income attributable to Hess Midstream LP was $25.1 million
EPS: $0.50 basic earnings per Class A share
Result: reported results

Exact text from the filing

Net income was $147.9 million. Net cash provided by operating activities was $204.6 million.

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Earnings Releases SEC 8-K Item 2.02 confidence 0.85

Period: second quarter of 2023
Revenue: Revenues and other income in the second quarter of 2023 were $324.0 million
Net income: Net income attributable to Hess Midstream LP was $25.1 million
EPS: $0.50 basic earnings per Class A share
Result: reported results

Exact text from the filing

Revenues and other income in the second quarter of 2023 were $324.0 million compared with $313.4 million in the prior-year quarter.

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Hess Midstream LP reported full year 2023 results: net income Hess Midstream LP is updating its full year 2023 net income guidance to $595 – $625 million. Guidance raised.

Period: full year 2023
Net income: Hess Midstream LP is updating its full year 2023 net income guidance to $595 – $625 million
Guidance: raised
Result: guidance update

Exact text from the filing

Hess Midstream LP is updating its full year 2023 net income guidance to $595 – $625 million and increasing its Adjusted EBITDA guidance to $1,000 – $1,030 million.

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Source: SEC EDGAR

accession 0000950170-23-034561

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