Hess Midstream Partners Q1 Earnings Call Highlights

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MarketBeat

Mon, May 4, 2026 astatine 11:06 AM CDT 7 min read

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Key Points

Hess Midstream chopped 2026 superior spending by astir a 3rd to astir $100–105 million (second compressor present online and Chevron’s longer laterals trim well-connect CapEx) and raised adjusted escaped currency travel guidance to $910–$960 million, astir a 20% year‑over‑year summation astatine the midpoint.
Severe wintertime upwind pressured first‑quarter volumes (average 430 MMcf/d state processing, 119k bbl/d crude terminaling, 115k bbl/d h2o gathering), but absorption expects volumes to turn done 2026 speech from planned Tioga Gas Plant attraction successful Q2 that volition chopped volumes by astir 5–10 MMcf/d.
The institution completed a $60 cardinal accretive repurchase, raised its organisation (2% increase, ~8% annualized for Class A), expects astir $280 million of excess adjusted escaped currency travel aft backing targeted organisation maturation for further buybacks/debt repayment, and does not expect worldly currency taxes until aft 2028 acknowledgment to caller IRS guidance connected the Corporate AMT.
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Hess Midstream Partners (NYSE:HESM) reported first-quarter 2026 results that absorption said met expectations contempt terrible wintertime upwind aboriginal successful the period, portion besides outlining a little 2026 superior spending program and higher adjusted escaped currency travel outlook.

First-quarter operational show and volumes

Chief Executive Officer Jonathan Stein said the institution “continued to execute our operational priorities and present our fiscal strategy,” noting first-quarter show achieved guidance “which included the interaction of terrible wintertime upwind successful January and February.”

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Stein reported mean first-quarter throughput volumes of 430 cardinal cubic feet per time for state processing, 119,000 barrels of lipid per time for crude terminaling, and 115,000 barrels of h2o per time for h2o gathering. Volumes were little than the 4th quarter, which Stein attributed chiefly to wintertime upwind impacts successful January and February, “partially offset by betterment successful March, arsenic good arsenic seizure of further third-party state volumes.”

Looking ahead, Stein said the institution inactive expects volumes to turn done the remainder of 2026, excluding the interaction of planned attraction astatine the Tioga Gas Plant (TGP) successful the 2nd 4th that is expected to trim volumes by 5 cardinal cubic feet per time to 10 cardinal cubic feet per time for the quarter.