Hess Midstream Q1 net income $161.9M, EPS $0.60; increases distribution to $0.6516/share

Hess Midstream LP

Net income $161.9M; attributable to HESM $44.6M ($0.60 basic EPS) vs $0.47 in Q1 2023.
Adjusted EBITDA $275.8M, Adjusted Free Cash Flow $194.2M; reaffirmed FY2024 EBITDA guidance $1.125–1.175B.
Throughput volumes up YoY: gas processing +16%, oil terminaling +13%, water gathering +47%.
Increased quarterly distribution to $0.6516/share (~2.7% QoQ); targets at least 5% annual growth through 2026.
Completed $100M repurchase of Class B units in March 2024.

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Hess Midstream LP reported the first quarter of 2024 results: revenue $355.6 million, net income $161.9 million, EPS $0.60 basic earnings per Class A share.

Period: the first quarter of 2024
Revenue: $355.6 million
Net income: $161.9 million
EPS: $0.60 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 2024 were $355.6 million compared with $305.0 million in the prior‐year quarter. First quarter 2024 affiliate revenues included $23.2 million of pass-through electricity, produced water trucking and

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Source: SEC EDGAR

accession 0000950170-24-047927

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