Hess Midstream: Q2 Earnings Insights

Shares of Hess Midstream HESM moved higher by 0.4% in pre-market trading after the company reported Q2 results.

Quarterly Results

Earnings per share increased 51.72% year over year to $0.44, which beat the estimate of $0.43.

Revenue of $294,800,000 higher by 9.27% year over year, which missed the estimate of $295,230,000.

Guidance

Hess Midstream sees FY21 adjusted EBITDA of $590 million-$610 million.

Conference Call Details

Date: Jul 28, 2021

Time: 12:00 PM

ET Webcast URL: https://edge.media-server.com/mmc/p/qw5vekz7

Recent Stock Performance

Company's 52-week high was at $27.62

52-week low: $14.56

Price action over last quarter: Up 2.41%

Company Profile

Hess Midstream LP owns, operates, develops, and acquires a diverse set of midstream assets and provides fee-based services to Hess and third-party customers. It conducts its business through three operating segments: gathering, processing and storage and terminaling and export. The company derives the maximum revenue from the gathering segment. Its gathering segment consists of the following assets namely Natural Gas Gathering and Compression; Crude Oil Gathering and Produced Water Gathering and Disposal.