HESM - Hess Midstream Partners GAAP EPS of $0.50 beats by $0.01 revenue of $324M beats by $1.57M

2023-07-26 08:04:46 ET

• Hess Midstream Partners press release ( NYSE: HESM ): Q2 GAAP EPS of $0.50 beats by $0.01 .
• Revenue of $324M (+3.4% Y/Y) beats by $1.57M .

• Guidance:

  • Following strong year-to-date operational performance, Hess Midstream LP is increasing its full year 2023 guidance for gas gathering and gas processing throughput volumes.
  • Hess Midstream LP is updating its full year 2023 net income guidance to $595 – $625 million and increasing its Adjusted EBITDA guidance to $1,000 – $1,030 million.
  • Hess Midstream LP continues to target at least 5% annual distribution growth per Class A share through 2025 with expected annual distribution coverage of at least 1.4x and continues to prioritize financial strength with a long-term leverage target of 3x Adjusted EBITDA.
  • Hess Midstream LP continues to expect organic throughput volume growth across all systems for 2024 and 2025 relative to 2023 volume guidance.

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