Hess Midstream posts bigger Q3 profit, cuts FY capex forecast
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Hess Midstream reported a Q3 net income of $175.5 million, up from $164.7 million last year, but its adjusted EBITDA fell short of analyst expectations. The company completed $70 million in Class A share repurchases and $30 million in Class B unit repurchases. For Q4, it expects net income between $170 - $180 million and adjusted EBITDA of $315 - $325 million. Additionally, Hess Midstream has reduced its 2025 capex guidance to $270 million due to project suspensions. The average analyst rating remains "hold" with a 12-month price target of $38.00.
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