Hess Midstream Q3 2024 net income $164.7M, EPS $0.63; distribution increased to $0.6846/share

Hess Midstream LP

Net income $164.7M, EPS $0.63 (vs $0.57 YoY); adjusted EBITDA $286.9M, adjusted free cash flow $141.4M.
Throughput volumes +9% for gas gathering and processing vs Q3 2023; water gathering volumes +29% YoY.
Completed $100M accretive repurchase of Class B units in Sept 2024; increased cash distribution to $0.6846/share (+$0.0169 QoQ).
Q4 2024 guidance: net income $170-185M, adjusted EBITDA $295-310M; reaffirming full-year throughput guidance.
Targets at least 5% annual distribution growth through 2026; expects >$1.25B financial flexibility through 2026.

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