--- title: "Hess Midstream Partners LP | 8-K: FY2026 Q1 Revenue Beats Estimate at USD 390.1 M" type: "News" locale: "en" url: "https://longbridge.com/en/news/285067768.md" datetime: "2026-05-04T12:02:15.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/285067768.md) - [en](https://longbridge.com/en/news/285067768.md) - [zh-HK](https://longbridge.com/zh-HK/news/285067768.md) --- # Hess Midstream Partners LP | 8-K: FY2026 Q1 Revenue Beats Estimate at USD 390.1 M Revenue: As of FY2026 Q1, the actual value is USD 390.1 M, beating the estimate of USD 389.51 M. EPS: As of FY2026 Q1, the actual value is USD 0.68, beating the estimate of USD 0.6481. EBIT: As of FY2026 Q1, the actual value is USD 241.3 M. ### First Quarter 2026 Financial Highlights #### Net Income Net income was $157.7 million, compared with $161.4 million in the first quarter of 2025. Net income attributable to Hess Midstream LP was $87.6 million, or $0.68 basic earnings per Class A share, compared with $0.65 basic earnings per Class A share in the first quarter of 2025. #### Adjusted EBITDA Adjusted EBITDA was $299.8 million, up from $292.3 million in the first quarter of 2025. #### Adjusted Free Cash Flow Adjusted Free Cash Flow was $237.0 million, an increase from $190.7 million in the first quarter of 2025. #### Net Cash Provided by Operating Activities Net cash provided by operating activities was $253.3 million, compared with $202.4 million in the first quarter of 2025. #### Revenues and Other Income Revenues and other income totaled $390.1 million, an increase from $382.0 million in the prior-year quarter. #### Total Operating Costs and Expenses Total operating costs and expenses were $152.0 million, up from $144.6 million in the prior-year quarter. #### Interest Expense, Net Interest expense, net of interest income, was $55.4 million, approximately flat compared with $56.4 million in the prior-year quarter. #### Capital Expenditures Capital expenditures for the first quarter of 2026 totaled $10.4 million, a 79% decrease compared with $50.1 million in the prior-year quarter. #### Share Repurchases Hess Midstream LP completed an accretive $42.0 million repurchase of its Class A shares and an $18.0 million repurchase of Class B units of Hess Midstream Operations LP. #### Quarterly Cash Distribution The quarterly cash distribution increased to $0.7792 per Class A share for the first quarter of 2026, an increase of $0.0151 per Class A share compared with the fourth quarter of 2025. ### First Quarter 2026 Segment Performance (vs. First Quarter 2025) #### Gathering Segment - Total revenues were $204.1 million, down from $203.6 million. - Operating and maintenance expenses were $49.7 million, down from $50.4 million. - Depreciation expense was $37.7 million, up from $32.4 million. - General and administrative expenses were $4.1 million, up from $3.0 million. - Income from operations was $112.6 million, down from $117.8 million. - Net income attributable to Hess Midstream LP was $70.2 million, up from $60.5 million. #### Processing and Storage Segment - Total revenues were $148.4 million, up from $147.8 million. - Operating and maintenance expenses were $29.3 million, up from $27.7 million. - Depreciation expense was $16.4 million, up from $14.7 million. - General and administrative expenses were $1.4 million, down from $1.7 million. - Income from operations was $101.3 million, down from $103.7 million. - Net income attributable to Hess Midstream LP was $65.1 million, up from $55.1 million. #### Terminaling and Export Segment - Total revenues were $37.6 million, up from $30.6 million. - Operating and maintenance expenses were $6.6 million, down from $7.5 million. - Depreciation expense was $4.4 million, flat compared to $4.4 million. - General and administrative expenses were $0.3 million, flat compared to $0.3 million. - Income from operations was $26.3 million, up from $18.4 million. - Net income attributable to Hess Midstream LP was $16.4 million, up from $9.4 million. #### Interest and Other Segment - Income (loss) from operations was - $2.1 million, compared to - $2.5 million. - Net income (loss) attributable to Hess Midstream LP was - $64.1 million, compared to - $53.4 million. ### First Quarter 2026 Operational Highlights - Throughput volumes for oil terminaling decreased by 5% compared with the first quarter of 2025. - Water gathering throughput volumes decreased by 9% compared with the first quarter of 2025. - Gas processing throughput volumes increased by 1% compared with the first quarter of 2025. - Gas gathering volumes were 438 Mcf of natural gas per day, up from 431 Mcf/day in Q1 2025. - Crude oil gathering volumes were 110 MBbl of crude oil per day, down from 117 MBbl/day in Q1 2025. - Gas processing volumes were 430 Mcf of natural gas per day, up from 424 Mcf/day in Q1 2025. - Crude terminals volumes were 119 MBbl of crude oil per day, down from 125 MBbl/day in Q1 2025. - NGL loading volumes were 15 MBbl of NGLs per day, up from 14 MBbl/day in Q1 2025. - Water gathering volumes were 115 MBbl of water per day, down from 126 MBbl/day in Q1 2025. ### Outlook / Guidance for Full Year 2026 Hess Midstream LP updated its 2026 capital expenditures guidance to approximately $105 million and increased its Adjusted Free Cash Flow guidance to $910 - $960 million. The company reaffirmed its full year 2026 throughput, net income, and Adjusted EBITDA guidance, expecting net income between $650 - $700 million and Adjusted EBITDA between $1,225 - $1,275 million. Projected throughput volumes for 2026 include gas gathering at 450 - 460 MMcf/day, crude oil gathering at 115 - 125 MBbl/day, gas processing at 435 - 445 MMcf/day, crude terminals at 125 - 135 MBbl/day, and water gathering at 125 - 135 MBbl/day. ### Related Stocks - [HESM.US](https://longbridge.com/en/quote/HESM.US.md) ## Related News & Research - [The Home Depot Announces First Quarter Fiscal 2026 Results; Reaffirms Fiscal 2026 Guidance | HD Stock News](https://longbridge.com/en/news/286890512.md) - [ONWARD Medical to Announce First Quarter 2026 Results on May 26, 2026 | ONWRY Stock News](https://longbridge.com/en/news/286858298.md) - [GDEV announces results for the first quarter of 2026 | GDEV Stock News](https://longbridge.com/en/news/286909689.md) - [Electro-Sensors GAAP EPS of -$0.03, revenue of $2.6M](https://longbridge.com/en/news/286518577.md) - [OS Therapies to Announce First Quarter 2026 Financials on Monday, May 18, 2026 | OSTX Stock News](https://longbridge.com/en/news/286607728.md)