Hess Midstream Beats Q2 Estimates as Costs Rise Into Second Half

โดย Zacks Investment Research·

Summary · why it matters

Hess Midstream LP reported second-quarter 2026 earnings of 75 cents per Class A share, up 1.4% year over year and 8.7% above the Zacks Consensus Estimate, even as revenues and other income declined 3.7% to $399 million. Lower throughput was the main drag on revenue, partly offset by higher tariff rates and third-party services, which more than doubled to $17.9 million from $8.2 million. Operating and maintenance expenses fell to $85.9 million from $94.1 million a year earlier, lifting the gross Adjusted EBITDA margin to 85% from 82%, though Adjusted EBITDA still slipped 0.7% to $313.7 million from $316 million. Management expects second-half volumes to exceed first-half levels, with full-year guidance of 450-460 MMcf/d for gas gathering, 435-445 MMcf/d for gas processing and 125-135 MBbl/d for both crude terminaling and water gathering, and it guided third-quarter Adjusted EBITDA to $310-$320 million as deferred maintenance and higher capital spending shift into the second half. Full-year Adjusted EBITDA guidance stands at $1.225-$1.275 billion, roughly flat at the midpoint versus 2025, while the Zacks Consensus Estimate for 2026 earnings is $2.94 per share, a 2.8% year-over-year increase.