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Hess Midstream Partners (HESM)
NYSE:HESM
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Earnings Data
Report Date
Jan 22, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
$0.67Last Year’s EPS
$0.55Same Quarter Last Year
Moderate Buy
Based on 2 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Oct 30, 2024
|% Change Since: 5.96%
|Next Earnings Date:Jan 22, 2025
Earnings Call Sentiment|Positive
The earnings call reflects a strong financial performance with increased shareholder returns and a positive outlook for growth despite challenges from wildfires and increased expenses.Company Guidance
During the third quarter of 2024, Hess Midstream maintained robust operational and financial performance, successfully completing planned maintenance at the Little Missouri 4 gas plant. This led to stable throughput volumes, with gas processing averaging 419 million cubic feet per day, crude terminalling at 122,000 barrels per day, and water gathering at 128,000 barrels per day, aligning with previous guidance. The company reaffirmed its full-year 2024 throughput guidance, projecting gas processing volumes to range between 405 million and 415 million cubic feet per day, crude terminaling between 120,000 and 130,000 barrels per day, and water gathering between 115,000 and 125,000 barrels per day. Hess Midstream anticipates approximately 10% growth in throughput across its oil and gas systems in 2024 compared to 2023, driven by Hess Corporation's development activities and a focus on gas capture. Financially, the company reported a third-quarter net income of $165 million, up from $160 million in the second quarter, with adjusted EBITDA increasing to $287 million from $276 million. Looking forward, Hess Midstream expects fourth-quarter adjusted EBITDA to be between $295 million and $310 million, reflecting a 5% increase at the midpoint compared to the third quarter, despite the volume impacts from October wildfires in North Dakota. The company remains on track with its 2024 capital program, aiming for capital expenditures of approximately $270 million, supporting its ongoing growth strategy.Strong Financial Performance
Net income for the third quarter was $165 million, up from $160 million in the second quarter. Adjusted EBITDA increased to $287 million from $276 million in the previous quarter.
Shareholder Returns
Since 2021, $1.85 billion has been returned to shareholders. The distribution per Class A share increased by over 10% year-to-date in 2024.
Positive Future Outlook
Hess Midstream expects approximately 10% annualized growth in oil and gas volumes through 2026, supporting a greater than 10% growth per year in adjusted EBITDA from 2024.
Successful Maintenance and High System Availability
Planned maintenance at the Little Missouri 4 gas plant was successfully completed, maintaining high system availability and strong gas capture.
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HESM Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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HESM Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Oct 30, 2024 | $34.16 | $34.00 | -0.47% |
| Jul 31, 2024 | $36.31 | $36.08 | -0.63% |
| Apr 25, 2024 | $33.64 | $32.99 | -1.93% |
| Jan 31, 2024 | $31.62 | $31.31 | -0.98% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Hess Midstream Partners (HESM) report earnings?
Hess Midstream Partners (HESM) is schdueled to report earning on Jan 22, 2025, TBA Not Confirmed.
What is Hess Midstream Partners (HESM) earnings time?
Hess Midstream Partners (HESM) earnings time is at Jan 22, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is HESM EPS forecast?
HESM EPS forecast for the fiscal quarter 2024 (Q4) is $0.67.
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