Hess Midstream Q2 net income $160.3M, raises 2024 gas throughput guidance

Hess Midstream LP

Q2 net income $160.3M ($0.59 diluted EPS); adjusted EBITDA $276.5M, adj. free cash flow $156.4M.
Gas gathering volumes +19% YoY, gas processing +17%, crude oil terminaling +17%, water gathering +43%.
Quarterly distribution increased to $0.6677/Class A share, up $0.0161 from Q1 2024.
Full-year 2024 net income guidance raised to $650-700M; reiterates adj. EBITDA $1,125-1,175M.
Completed $100M accretive repurchase of Class B units in June 2024.

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