Hess Midstream LP

Hess Midstream LP

HESMยทNYSE

$38.47

-0.59%
EnergyOil & Gas Midstream

Hess Midstream LP owns, develops, operates, and acquires midstream assets. The company operates through three segments: Gathering; Processing and Storage; and Terminaling and Export. The Gathering segment owns natural gas gathering and compression; crude oil gathering systems; and produced water gathering and disposal facilities. Its gathering systems consists of approximately 1,350 miles of high and low pressure natural gas and natural gas liquids gathering pipelines with capacity of approximately 450 million cubic feet per day; and crude oil gathering system comprises approximately 550 miles of crude oil gathering pipelines. The Processing and Storage segment comprises Tioga Gas Plant, a natural gas processing and fractionation plant located in Tioga, North Dakota; a 50% interest in the Little Missouri 4 gas processing plant located in south of the Missouri River in McKenzie County, North Dakota; and Mentor Storage Terminal, a propane storage cavern and rail, and truck loading and unloading facility located in Mentor, Minnesota. The Terminaling and Export segment owns Ramberg terminal facility; Tioga rail terminal; and crude oil rail cars, as well as Johnson's Corner Header System, a crude oil pipeline header system. Hess Midstream LP was founded in 2014 and is based in Houston, Texas.

At a Glance

Live Snapshot
Market Cap$7.95B
EPS2.8700
P/E Ratio13.40
Earnings Date07/29/2026
3Y+27.0%
5Y+49.0%
10Y+218.0%
3Y+321.0%
5Y+1370.0%
10Y+72.0%
3Y+14.0%
5Y+53.0%
10Y+154.0%
Hess Midstream LP

Hess Midstream LP Profit Bridge

HESM ยท NYSE
Revenue1.62B
Cost of Goods Sold (584.70M)
Gross Profit1.04B
Operating Expenses (28.50M)
Operating Income1.01B
Interest Expense (225.60M)
Other Income/Expense-209.70M
Pretax Income798.40M
Income Tax (113.80M)
Net Income352.90M
Net Income
352.90M

Profitability Analysis

Gross Margin

63.9%

Exceptional pricing power and cost management. The company retains over half of revenue after direct costs.

Operating Margin

62.2%

Outstanding operational efficiency. The company generates substantial profit from core operations.

Net Profit Margin

21.8%

Exceptional profitability. The company converts a significant portion of revenue to bottom-line earnings.

Effective Tax Rate

14.3%

Below-average tax rate suggests effective tax planning, favorable jurisdictions, or tax credits.

Profitability Insight

Exceptional profitability across all levels: Strong pricing power, efficient operations, and healthy bottom line indicate a high-quality business with sustainable competitive advantages.

Hess Midstream LP Income Statement

HESM โ€ข NYSE

Hess Midstream LP Income StatementDec 2025Dec 2024Dec 2023Dec 2022Dec 2021Dec 2020Dec 2019Dec 2018Dec 2017Dec 2016Dec 2015Dec 2014Dec 2013Dec 2012
REVENUE
1.6B
1.5B
1.3B
1.3B
1.2B
1.1B
847.6M
712M
579.5M
509.8M
565.1M
254.8M
269.7M
169.7M
GROSS PROFIT
(584.7M)
(203.1M)
(192.5M)
(181.3M)
(165.6M)
(156.9M)
(142.5M)
(126.9M)
(116.5M)
(99.7M)
(86.1M)
(44.4M)
(202.8M)
(101.7M)
1B
1.3B
1.2B
1.1B
1B
934.7M
705.1M
585.1M
463M
410.1M
479M
210.4M
66.9M
68M
OPERATING INCOME
(28.5M)
(369.8M)
(336.7M)
(300.7M)
(311M)
(358.2M)
(328.5M)
(206.9M)
(199.9M)
(203.8M)
(284.1M)
(175.6M)
(230.7M)
(141.9M)
(28.5M)
(26.1M)
(26.2M)
(23.1M)
(22.7M)
(21.1M)
(52.4M)
(14.1M)
(13.9M)
(10.4M)
(9.3M)
(4.9M)
(13M)
(11.6M)
1B
919M
816.9M
791.2M
727.2M
576.5M
376.6M
378.2M
263.1M
206.3M
194.9M
34.8M
-163.8M
-73.9M
PRE-TAX INCOME
(225.6M)
(202.2M)
(179M)
(149.3M)
(105.4M)
(94.7M)
(62.4M)
(53.3M)
(25.8M)
(1.4M)
(1.5M)
(1.9M)
(0.0)
(0.0)
-225.6M
-202.2M
-179M
-149.3M
-105.4M
-94.7M
-62.4M
-53.3M
-25.8M
-1.4M
-1.5M
-1.9M
0.0
0.0
(0.0)
(343.7M)
(310.5M)
(277.6M)
(288.3M)
(337.1M)
(276.1M)
(192.8M)
(186M)
(193.4M)
(274.8M)
(170.7M)
(217.7M)
(130.3M)
-209.7M
-188.2M
-171.3M
-144M
-94.8M
-84.5M
-59M
-52.7M
-21.1M
-1.4M
-1.5M
-1.9M
0.0
0.0
798.4M
730.8M
645.6M
647.2M
632.4M
492M
317.6M
325.5M
242M
204.9M
193.4M
32.9M
-163.8M
-73.9M
NET INCOME
(113.8M)
(71.8M)
(37.9M)
(26.6M)
(14.6M)
(7.1M)
-100K
(0.0)
(0.0)
(0.0)
(0.0)
(0.0)
(0.0)
(0.0)
352.9M
223.1M
118.6M
83.9M
46.4M
24M
70.1M
69.1M
41.2M
204.9M
193.4M
32.9M
-163.8M
-73.9M

SEC Filings

HESM - Filing history and reports

Filing TypeFiling DatePeriod EndingFiscal YearActions
10-Q

10-Q 2026 Q1

Q1

May 07, 2026
March 31, 2026
2026
8-K

8-K 2026

N/A

May 04, 2026
May 04, 2026
2026
8-K

8-K 2026

N/A

March 04, 2026
March 02, 2026
2026
10-K

10-K 2025 FY

FY

February 25, 2026
December 31, 2025
2025
8-K

8-K 2026

N/A

February 02, 2026
February 02, 2026
2026
8-K

8-K 2026

N/A

January 30, 2026
January 26, 2026
2026
8-K

8-K 2025

N/A

December 09, 2025
December 04, 2025
2025
10-Q

10-Q 2025 Q3

Q3

November 06, 2025
September 30, 2025
2025
8-K

8-K 2025

N/A

November 03, 2025
November 03, 2025
2025
8-K

8-K 2025

N/A

September 05, 2025
September 04, 2025
2025
Showing 1 to 10 of 94 filings