Hess Midstream Beats Earnings Estimates While Revenue Declines

Hess Midstream reported third-quarter adjusted earnings of $0.77 per share, beating analyst expectations of $0.72, while revenue of $410.1 million fell slightly short of estimates and declined about 3% from a year earlier. Lower throughput volumes, primarily reflecting reduced production, weighed on revenue; lower operating costs partly offset the decline. The company reported adjusted EBITDA of $319.9 million and adjusted free cash flow of $247.9 million, raised its quarterly distribution to $0.7985 per share, and maintained its 2026 financial guidance. Analyst coverage remains cautious overall: the average rating was “Reduce,” with a consensus price target of $34.