NYSE$HESM

Hess Midstream · Q4 2025 earnings

Q4 2025 earnings · · Before market open · Investor relations

Briefing

Hess Midstream reported Q4 2025, revenue of $380M, net income of $168M, diluted EPS of $0.38.

For Q4 2025, Hess Midstream reported revenue of $380M, net income of $168M, diluted EPS was $0.38. Management discusses segment performance, capital allocation, and outlook in the earnings filing.

  • Revenue $380M.
  • Net income $168M.
  • Diluted EPS $0.38.

Headline financials

Total Revenue

$380M

Previous: $396M-4.0%
EPS (adj)

$0.38

Previous: $0.68-44.1%
Gas gathering throughput

456.0K

No prior period
Crude oil gathering

118.0K

No prior period
Gas processing throughput

444.0K

No prior period
Crude terminaling throughput

122.0K

No prior period
NGL loading throughput

16.0K

No prior period
Water gathering throughput

124.0K

No prior period
Net Income

$168M

Previous: $172M-2.4%
Operating Income

$252M

Previous: $243M+3.5%

Revenue & EPS history

Hess Midstream · Revenue · Quarterly

$380M

Q4 2025-4%vs Q4 2024
Beat estimate in 10 of 15 quarters(67%)
ActualEstimate

Forward guidance

The release discusses Hess Midstream's outlook for upcoming periods, including capital allocation, operating priorities, and market risks, without relying solely on numeric EPS bridges.

Tailwinds

  • Hess Midstream cites operational execution and demand trends supporting the outlook.
  • Balance sheet and liquidity actions aim to fund growth and returns.

Headwinds

  • Macro, pricing, and input-cost volatility could pressure margins.
  • Segment mix and one-time items may affect quarter-to-quarter comparability.
  • Commodity prices and throughput drive earnings volatility.

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 20 quarterly earnings reports · overlaid with Q4 2025

Historical avgQ4 2025

+0.8%

Avg return

Earnings day

-0.2%

Avg return

5 days after

+0.2%

Avg return

30 days after

46%

17 / 37 earnings

Positive

+12.1%

Q2 2021

Best reaction

-4.4%

Q4 2020

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2026+1.4%+0.1%+1.0%
Q4 2025-1.4%+0.7%+10.2%
Q3 2025+1.0%-0.1%+0.6%
Q2 2025+3.4%+4.5%-0.1%
Q1 2025-3.5%-4.2%-3.9%
Q4 2024+2.0%+1.2%+2.1%
Q3 2024-0.5%-0.8%+8.8%
Q2 2024-2.0%-6.3%-1.0%
Q1 2024-2.0%-4.3%-0.4%
Q4 2023+0.1%+1.5%+1.5%
Q3 2023-0.8%-2.7%+5.4%
Q2 2023-2.4%-2.1%-9.2%
Q1 2023+1.4%+4.1%-5.1%
Q4 2022-2.1%-4.1%-11.7%
Q3 2022+4.6%+5.5%+7.9%
Q2 2022-1.5%-1.2%-1.9%
Q1 2022+1.6%-1.8%+11.0%
Q4 2021-1.5%-0.6%+4.6%
Q3 2021-1.1%+1.4%-3.8%
Q2 2021+12.1%+10.1%+9.5%
Q1 2021+2.4%-2.1%+11.7%
Q4 2020-4.4%-1.9%-4.3%
Q3 2020-0.5%-5.1%+3.7%
Q2 2020+4.7%+8.2%+5.2%
Q1 2020+9.6%+12.8%+31.1%
Q4 2019+0.4%-1.8%-20.2%
Q3 2019-0.4%-0.2%-4.4%
Q2 2019-2.4%-8.2%-7.8%
Q1 2019-0.7%-3.7%-12.1%
Q4 2018+4.9%+5.1%+9.9%
Q3 2018-1.0%-3.5%-10.8%
Q2 2018+5.4%+6.4%+12.2%
Q1 2018+6.6%+4.1%+5.2%
Q4 2017-1.5%-8.1%-5.1%
Q3 2017-1.4%-3.9%-9.8%
Q2 2017+0.0%-3.9%-8.1%
Q1 2017+0.6%-1.3%-13.7%
Q4 2016
Q3 2016
Q2 2016
Q1 2016
Q4 2015
Q3 2015
Q2 2015
Q1 2015
Q4 2014
Q3 2014
Q2 2014
Q1 2014
Q4 2013
Q3 2013
Q2 2013
Q1 2013

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