Highest-materiality recent filing
Hess Midstream LP Reports Q1 2026 Results; Raises Free Cash Flow Guidance
Net income of $157.7M and adjusted EBITDA of $299.8M in Q1 2026.
Hess Midstream announces $60M repurchase: $18M sponsor buyback + $42M ASR
Repurchased 455,811 Class B units from Chevron affiliate at $39.49/unit for ~$18M.
Hess Midstream Q4 2025 EPS $0.72, Adj. EBITDA $309M, distribution raised to $0.7641
Net income $168M; diluted EPS $0.72 vs $0.68 in Q4 2024.
Hess Midstream Q3 net income $175.5M, EPS $0.75, dividend increased 2.4% QoQ
Net income $175.5M ($0.75 basic EPS) vs $164.7M ($0.63) in Q3 2024; adjusted EBITDA $320.7M.
Subsidiary Hess Midstream Operations LP repurchases 695,894 Class B units from Chevron affiliate for ~$30M at $43.11/share.
Hess Midstream Q2 net income $179.7M, EPS $0.74; distribution raised 3.8% QoQ
Net income attributable to HESM $90.3M ($0.74 basic EPS) vs $0.59 YoY; Adjusted EBITDA $316M.
Chevron closes Hess merger; Hess Midstream gets new board, Jonathan Stein named CEO
Chevron indirectly owns ~37.8% consolidated interest in Hess Midstream after Merger completion.
GIP affiliate offers 15,022,517 Class A shares; HESM receives no proceeds.
Hess Midstream signs $200M repurchase: $190M from sponsors, $10M ASR of Class A shares
HESM OpCo to repurchase 5,151,842 Class B units from sponsors for ~$190M at $36.88/share; units canceled.
Hess Midstream Q1 2025 EPS $0.65; distribution raised to $0.7098; throughput volumes up
Net income attributable to Hess Midstream $71.6M, basic EPS $0.65 vs $0.60 in Q1 2024.
Hess Midstream LP secondary offering of 11M shares at $39.45; subsidiary issues $800M 5.875% notes
GIP/BlackRock affiliate sold 11M Class A shares at $39.45 each; gross proceeds $433.95M; company got $0.
Hess Midstream Q4 net income $70.4M ($0.68 EPS), distribution raised to $0.7012/share
Net income attributable $70.4M ($0.68 basic EPS) vs $0.55 in Q4 2023; adjusted EBITDA $298.2M.
Hess Midstream repurchases $100M in Class B units from sponsors; 2.57M units cancelled
Repurchased 2,572,677 Class B units from affiliates of Hess and GIP/BlackRock at $38.87/unit; closed Jan 15.
Hess Midstream Q3 2024 net income $164.7M, EPS $0.63; distribution increased to $0.6846/share
Net income $164.7M, EPS $0.63 (vs $0.57 YoY); adjusted EBITDA $286.9M, adjusted free cash flow $141.4M.
GIP affiliate sells 12.65M HESM Class A shares in upsized secondary offering at $35.12/sh
Offering upsized from 10M to 11M shares, plus full exercise of 1.65M-share option: total 12.65M shares.
Hess Midstream repurchases $100M of Class B units from sponsors at $35.42/share
Repurchased 2,823,262 Class B units from Hess Corp and GIP affiliates for ~$100M (1.3% of consolidated co).
Hess Midstream Q2 net income $160.3M, raises 2024 gas throughput guidance
Q2 net income $160.3M ($0.59 diluted EPS); adjusted EBITDA $276.5M, adj. free cash flow $156.4M.
Hess Midstream signs $100M sponsor unit repurchase; 2.7M Class B units cancelled
Repurchased 2,724,052 Class B units from Hess Corp and Global Infrastructure Partners at $36.71/unit.
Hess Midstream issues $600M in 6.500% senior notes due 2029
Issuer Hess Midstream Operations LP completed $600M aggregate principal of 6.500% senior notes due 2029.
Hess Midstream Q1 net income $161.9M, EPS $0.60; increases distribution to $0.6516/share
Net income $161.9M; attributable to HESM $44.6M ($0.60 basic EPS) vs $0.47 in Q1 2023.
Hess Midstream repurchases $100M of Class B units from sponsors
Repurchased 2,816,901 Class B units at $35.50/unit, ~1.2% of company, closing March 14, 2024.
Hess Midstream secondary offering of 11.5M Class A shares at $32.83 by GIP affiliate
Selling shareholder (GIP affiliate) sold 10M Class A shares plus full exercise of 1.5M option at $32.83 each.
Hess Midstream Q4 net income $152.8M; adj EBITDA $264.1M; distribution raised 2.7% sequentially
Net income attributable to Hess Midstream $37.5M ($0.55 EPS) vs $0.49 YoY; revenue $356.5M (+13% YoY).
Hess Midstream repurchases $100M of sponsor Class B units, reducing unit count by ~1.5%
HESM OpCo repurchased 3,370,407 Class B units from affiliates of Hess Corp and GIP for $100M at $29.67/unit.
Hess Midstream Q3 net income $164.8M, raises FY23 guidance, distribution up 2.7% to $0.6175
Q3 net income $164.8M ($0.57 basic EPS); Adjusted EBITDA $271.0M; DCF $224.1M (1.6x coverage).
Hess Midstream Q2 net income $147.9M, raises FY2023 EBITDA guidance to $1.0-1.03B
Net income $147.9M ($0.50/Class A share) vs $151.8M ($0.51) in Q2 2022; Adjusted EBITDA $248.1M.
Selling shareholders (Hess subsidiary and GIP affiliate) sold 12,765,000 Class A shares at $27.00/share.
Hess Midstream Q1 net income $142.2M, EPS $0.47; raises distribution 2.7% QoQ
Net income attributable to Hess Midstream LP $20.7M ($0.47 basic EPS) vs $0.50 in Q1 2022.
Hess Midstream repurchases $100M of Class B units from sponsors at $27.63/unit
Repurchased 3,619,254 Class B units from affiliates of Hess Corp and GIP for $100M at $27.63/unit (closing price on March 27, 2023).
Net income $149.8M vs $165.1M in Q4 2021; EPS $0.49 vs $0.51 year ago.
Hess Midstream Q3 net income $159.4M; raises FY 2022 guidance, volumes up 24% gas processing
Net income $159.4M ($0.53/share) vs $131.1M in Q3 2021; adj. EBITDA $253.6M, DCF $214.8M.
Hess Midstream Q2 net income $151.8M; reaffirms 2022 guidance and 5% annual distribution growth
Net income attributable to Hess Midstream LP $22.0M ($0.51/share) vs $0.44 year ago.
Net income $159.6M ($0.50 basic EPS), flat YoY; Adjusted EBITDA $241.6M.
Hess Midstream announces $400M sponsor unit repurchase and $263M secondary offering
HESM subsidiary repurchases 13,559,322 Class B units from sponsors for $400M at $29.50/unit; funded via revolver.
Net income Q4 2021 $165.1M (up from $132.3M Q4 2020); attributable to HESM $16.9M or $0.51 per share.
Hess Midstream Q3 net income $131.1M, raises FY2021 EBITDA guidance to $895-905M
Net income $131.1M; attributable $9.9M ($0.39/share). Adjusted EBITDA $205.0M, DCF $171.5M, Adjusted FCF $119.8M.
Effective upon the closing of the Secondary Offering, in connection with the governance changes disclosed in the Current Report on Form 8-K dated May 28, 2025, each of William J. Brilliant, Scott E. Telesz and James K. Lee resigned from the board of directors (the “Board”) of GP LLC.
Effective upon the closing of the Secondary Offering, in connection with the governance changes disclosed in the Current Report on Form 8-K dated May 28, 2025, each of William J. Brilliant, Scott E. Telesz and James K. Lee resigned from the board of directors (the “Board”) of GP LLC.
Effective upon the closing of the Secondary Offering, in connection with the governance changes disclosed in the Current Report on Form 8-K dated May 28, 2025, each of William J. Brilliant, Scott E. Telesz and James K. Lee resigned from the board of directors (the “Board”) of GP LLC.
On February 22, 2022, Matthew C. Harris resigned from the board of directors (the “ Board ”) of Hess Midstream GP LLC (“ HESM GP ”), the general partner of Hess Midstream GP LP (together with HESM GP, the “ General Partner ”), the general partner of Hess Midstream LP (the “ Partnership ”), effective immediately.
James K. Lee, an Investment Principal of Global Infrastructure Partners (“ GIP ”), was appointed to succeed Mr. Harris as a member of the Board, effective immediately.
Max materiality 0.90 · Median 0.65 · Most common event other_material