Hess Midstream reported third quarter 2026 revenues of $410.1 million, a slight decrease from $420.9 million in the prior-year period. Net income attributable to the company rose to $99.4 million as lower throughput volumes were mitigated by higher tariff rates and a 73% reduction in capital expenditures following the completion of major expansion projects.
Key Highlights
- Throughput volumes fell across all primary segments, with oil terminaling decreasing 10%, gas processing down 8%, and water gathering down 4% year-over-year.
- Capital expenditures dropped to $21.5 million from $79.8 million in Q3 2025, primarily due to the completion of gas compression capacity expansions in January 2026.
- The company reiterated its full-year 2026 Adjusted EBITDA guidance of $1.225–$1.250 billion and Adjusted Free Cash Flow of $910–$935 million.
- Management expects to close the acquisition of DJ Basin assets by year-end 2026, which is projected to approximately triple crude gathering throughput.