Key Points – Strong second-quarter results: Net income rose to $174 million from approximately $158 million in the first quarter, while adjusted EBITDA increased to $314 million from $300 million, supported by higher revenue and lower operating and G&A expenses. – Second-half…
lume growth expected: Hess Midstream anticipates at least 5% sequential volume growth in the second half of 2026 as wells come online and Chevron benefits from longer laterals and improved productivity. Third-quarter EBITDA is forecast at $310 million to $320 million, with higher operating expenses and capital spending expected to weigh on free cash flow. – Guidance and capital allocation reaffirmed: The company maintained its 2026 adjusted EBITDA guidance of $1.225 billion to $1.275 billion and free cash flow guidance of $910 million to $960 million
Excess cash will support 5% annual distribution growth, share repurchases and debt reduction, with leverage expected to decline from roughly 3 times toward 2.5 times by 2028. Hess Midstream Partners (NYSE:HESM) reported higher second-quarter net income and adjusted EBITDA, supported by lower operating expenses and general and administrative savings, while reaffirming its full-year financial outlook and plans for shareholder returns and debt reduction. Net income for the second quarter of 2026 was $174 million, compared with about $158 million in the first quarter, while adjusted EBITDA rose to $314 million from $300 million.
Chief Financial Officer Mike Chadwick said the increase primarily reflected operating activity that shifted into the second half of the year, as well as lower G&A allocations. Revenue excluding pass-through revenue increased by about $10 million sequentially. Gathering revenue rose approximately $7 million, and processing revenue increased approximately $3 million, Chadwick said.