Filing Flows › Hess Midstream LP (HESM) › Guidance history
Hess Midstream LP (HESM) guidance history: what it guided and what it reported
Hess Midstream LP gave guidance in 10 earnings releases on file since Apr 25, 2024. Its releases raised guidance 5 times and lowered it once.
Net income
This line is not in the statements Filing Flows reads, so there is no reported figure to hold it to.
| Period | Guided (and how it moved) | Reported | Result | vs midpoint |
|---|---|---|---|---|
| FY2026 | $343M (May 4, 2026) → raised $650M–$700M (Aug 3, 2026) → lowered $650M–$675M (Oct 8, 2026) | — | to be reported | — |
| FY2025 | $715M–$765M (Apr 30, 2025) → lowered $685M–$735M (Jul 30, 2025) | — | — | — |
| FY2024 | $670M–$720M (Apr 25, 2024) | — | — | — |
Adjusted net income
The guide is on an adjusted basis that the GAAP statements do not show, so there is no reported figure to hold it to.
| Period | Guided (and how it moved) | Reported | Result | vs midpoint |
|---|---|---|---|---|
| FY2025 | $685M–$695M (Nov 3, 2025) | — | — | — |
| Q4 2025 | $315M–$325M (Nov 3, 2025) | — | — | — |
| FY2024 | $655M–$670M (Oct 30, 2024) | — | — | — |
| Q4 2024 | $295M–$310M (Oct 30, 2024) | — | — | — |
Capital expenditures
The GAAP figure from the filings is shown for each period reported; it is not judged against the guide, which may leave items out (one-off payments, acquisitions).
| Period | Guided (and how it moved) | Reported | Result | vs midpoint |
|---|---|---|---|---|
| FY2027 | $125M (Oct 8, 2026) | — | to be reported | — |
| FY2026 | $105M (May 4, 2026) → reaffirmed $105M (Aug 3, 2026) | — | to be reported | — |
| FY2025 | $300M (Apr 30, 2025) → reaffirmed $300M (Jul 30, 2025) → lowered $270M (Nov 3, 2025) | $256M (GAAP) | not judged | — |
| FY2024 | $250M–$275M (Apr 25, 2024) → reaffirmed $250M–$275M (Jul 31, 2024) → raised $275M (Oct 30, 2024) | $306M (GAAP) | not judged | — |
Free cash flow
The GAAP figure from the filings is shown for each period reported; it is not judged against the guide, which may leave items out (one-off payments, acquisitions).
| Period | Guided (and how it moved) | Reported | Result | vs midpoint |
|---|---|---|---|---|
| FY2025 | $735M–$785M (Apr 30, 2025) | $728M (GAAP) | not judged | — |
| FY2024 | $685M–$735M (Apr 25, 2024) | $634M (GAAP) | not judged | — |
EBITDA
This line is not in the statements Filing Flows reads, so there is no reported figure to hold it to.
| Period | Guided (and how it moved) | Reported | Result | vs midpoint |
|---|---|---|---|---|
| FY2027 | $850M–$950M (Oct 8, 2026) | — | to be reported | — |
| FY2026 | $1.2B–$1.3B (May 4, 2026) → reaffirmed $1.2B–$1.3B (Aug 3, 2026) → lowered $1.2B–$1.2B (Oct 8, 2026) | — | to be reported | — |
| FY2025 | $1.2B–$1.3B (Apr 30, 2025) | — | — | — |
Adjusted EBITDA
The guide is on an adjusted basis that the GAAP statements do not show, so there is no reported figure to hold it to.
| Period | Guided (and how it moved) | Reported | Result | vs midpoint |
|---|---|---|---|---|
| Q4 2025 | $1.2B–$1.3B (Nov 3, 2025) | — | — | — |
| FY2025 | $1.2B–$1.3B (Jul 30, 2025) → lowered $315M–$325M (Nov 3, 2025) | — | — | — |
| Q4 2024 | $1.1B–$1.1B (Oct 30, 2024) | — | — | — |
| FY2024 | $1.1B–$1.2B (Jul 31, 2024) → lowered $295M–$310M (Oct 30, 2024) | — | — | — |
The latest quarter
Hess Midstream LP, Q3 2026: revenue $410M (-3% year over year), operating margin 64.0%, net earnings $99.4M, operating cash flow $268M. The chart follows the revenue to costs, profit and cash.
Questions
Does Hess Midstream LP beat its guidance?
Hess Midstream LP gave guidance in 10 earnings releases on file since Apr 25, 2024. Its releases raised guidance 5 times and lowered it once.
How often does Hess Midstream LP raise guidance?
Its earnings releases raised guidance 5 times and lowered it once since Apr 25, 2024.
Each guided period is held to the last guidance given before its figures were reported; a single figure counts as in line within 1% (0.25 pts for a rate). Reported figures are GAAP, from the company's filings; adjusted guidance shows its moves only.