HESM News & Events

Hess Midstream LP (HESM) announced an accretive $60M repurchase that included both Class B units of its subsidiary, Hess Midstream Operations, from an affiliate of Chevron (CVX), Hess Midstream's sponsor, and Hess Midstream's Class A shares from the public. Hess Midstream announced the execution of a definitive agreement providing for the repurchase of approximately $18M of Class B units by its subsidiary, Hess Midstream Operations, from the sponsor. The terms of the proposed unit repurchase transaction were unanimously approved by the board of directors of Hess Midstream's general partner, based on the unanimous approval and recommendation of its conflicts committee composed solely of independent directors. Hess Midstream also announced that it has entered into an accelerated share repurchase agreement with JPMorgan Chase Bank, to repurchase $42M of Hess Midstream's publicly traded Class A shares. The repurchased securities will be cancelled following settlement of each repurchase transaction, which is expected to result in increased distributable cash flow per Class A share providing capacity for incremental distribution growth above Hess Midstream's annual distribution target of at least 5% through 2028, consistent with Hess Midstream's return of capital framework.

Backs FY26 free cash flow view $850M-$900M. Backs FY26 gross adjusted EBITDA margin view 75%. Backs FY26 capital expenditures view $150M. The company said, "Hess Midstream is reaffirming its full year 2026 and long-term guidance issued on December 9, 2025."

Reports Q4 revenue $404.2M, consensus $416.44M. "In 2025, we successfully completed our planned multiyear infrastructure project buildout," said Jonathan Stein, CEO of Hess Midstream. "We remain focused on reliable operating performance and expect substantially lower future capital spending, supporting growing Adjusted Free Cash Flow that positions us well for incremental shareholder returns and debt repayment."