Hess Midstream LP reported estimated results for the third quarter of 2026, filing an -K with the SEC on October 30, 2026. The company reported net income of $179.1 million for the quarter, compared to $175.5 million in the prior year. After accounting for noncontrolling interests, net income attributable to Hess Midstream was $99.4 million, or $0.77 per basic Class A share, compared to $0.75 per share in the third quarter of 2025.
Adjusted EBITDA for the third quarter of 2026 was $319.9 million, while Adjusted Free Cash Flow was $247.9 million. Net cash provided by operating activities totaled $267.9 million. Revenues for the quarter were $410.1 million, a decrease of $10.8 million compared to the prior year, primarily due to lower throughput volumes, though this was partially offset by higher tariff rates.
On October 26, 2026, the Board of Directors declared a quarterly cash distribution of $0.7985 per Class A share for the third quarter of 2026. This represents an increase of $0.0097 per share compared to the second quarter of 2026. The company stated this increase is in line with its targeted annual distribution growth of at least 5%. The distribution is scheduled to be paid on November 13, 2026, to shareholders of record as of November 5, 2026.
Capital expenditures for the third quarter of 2026 totaled $21.5 million, a significant decrease from $79.8 million in the prior year quarter, largely due to the completion of a gas compression capacity expansion in January 2026. Hess Midstream reiterated its full year 2026 guidance, projecting net income between $650 million and $675 million, Adjusted EBITDA between $1.225 billion and $1.250 billion, and Adjusted Free Cash Flow between $910 million and $935 million.
