Hess Midstream revenue falls to $399 million

• Hess Midstream reported Q2 revenue of $399 million and net income of $173.7 million.
• Hess Midstream shares were up 1.49% at $40.83 in premarket trading following the results.
• The company reaffirmed its 2026 guidance and increased its quarterly distribution to $0.7888 per share.

Hess Midstream (NYSE:HESM) reported Q2 revenue of $399 million, net income of $173.7 million and adjusted free cash flow of $231.6 million.

Revenue fell by $15.2 million from $414.2 million a year earlier, mainly because lower throughput offset higher tariffs and third-party services.

Capital spending fell 56% to $30.6 million, while oil terminaling volumes declined 15% and water gathering volumes dropped 12%.

Following the announcement, Hess Midstream's share price was up 1.49% at $40.83 in premarket trading.

Hess Midstream raised its quarterly distribution by $0.0096 to $0.7888 per share, payable August 14 to eligible shareholders.

The company reaffirmed 2026 adjusted EBITDA guidance of $1.225–$1.275 billion and adjusted free cash flow guidance of $910–$960 million.