Hess Midstream LP — Form 8-K
Filed August 3, 2026 · analyzed by the 8-K Agent
8-K
▼ Likely negative
significance 42/100
What the filing says
Hess Midstream LP reported Q2 2026 net income of $173.7M (vs. $179.7M in Q2 2025) and EPS of $0.75 per Class A share (vs. $0.74 prior year), with Adjusted EBITDA of $313.7M. Throughput volumes declined significantly: oil terminaling down 15%, water gathering down 12%, gas processing down 4% due to lower production and maintenance. The company raised its quarterly cash distribution by $0.0096 per share to $0.7888. Full-year 2026 guidance reaffirmed at $1,225–$1,275M Adjusted EBITDA and $910–$960M Adjusted Free Cash Flow. The primary driver of underperformance is reduced volumes from sponsor (Chevron) production activity.
Why this rating
Volume declines and flat YoY earnings are material operational headwinds (~6% revenue drop), but small dividend increase and stable guidance limit severity. Distribution growth signals confidence. Modest relative to $5B market cap.
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