Hess Midstream LP (NYSE:HESM) reported second-quarter earnings that outpaced analyst expectations, with adjusted EPS of $0.74 beating the consensus estimate of $0.66. Revenue also topped forecasts, reaching $414.2 million compared to the anticipated $405.13 million.
Net income rose 19.3% year-over-year to $179.7 million from $160.3 million in the same quarter last year, while revenue increased 13.3% from $365.5 million. Following the earnings release, Hess Midstream’s shares climbed 1.2%.
Operationally, the company experienced solid growth across its business lines: gas processing volumes grew by 7%, oil terminaling increased 9%, and water gathering expanded 11% compared to Q2 2024.
“Hess Midstream delivered strong operational and financial results in the second quarter, driven by upstream performance and high system availability,” said John Gatling, President and Chief Operating Officer of Hess Midstream.
Looking ahead, Hess Midstream confirmed its full-year 2025 guidance for throughput and adjusted EBITDA of $1.235 billion to $1.285 billion, while updating net income guidance to a range of $685 million to $735 million. The company also announced a quarterly cash distribution of $0.7370 per Class A share, up $0.0272 from the previous quarter.
Hess Midstream remains committed to achieving at least 5% annual distribution growth per Class A share through 2027 and expects to maintain over $1.25 billion in financial flexibility through that period to support further shareholder returns.
In a related development, Chevron Corporation (NYSE:CVX) completed its merger with Hess Corporation (NYSE:HES) on July 18, 2025, thereby indirectly acquiring a roughly 37.8% stake in Hess Midstream on a consolidated basis.
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