Filing Flows › Hess Midstream LP (HESM) › Q3 2026
Hess Midstream LP (HESM) Q3 2026 earnings results (third quarter 2026)
10-Q filed Nov 5, 2026
Hess Midstream LP (HESM) reported revenue of $410M for the third quarter 2026 (Q3 2026), -3% from a year earlier and +3% from the quarter before. Operating margin was 64.0%, net earnings $99.4M (24.2% of revenue).
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.
| Q3 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $410M | +3% | -3% |
| Operating profit | $262M | +4% | +1% |
| Net earnings | $99.4M | +3% | +2% |
| Operating cash flow | $268M | -4% | +3% |
| Free cash flow | $242M | -5% | +35% |
What changed
Revenue was $410.1M in Q3 2026, down 3% year over year and up 3% from the previous quarter. Affiliate Services was the largest line at 96% of revenue. Affiliate Services lost $13.5M year over year (down 3%), 125% of the total change.
Operating profit was $262.4M, a 64.0% margin (up 2.5 points year over year). Total costs fell 9% while revenue fell 3%. Net earnings were $99.4M, up 2% year over year. The effective tax rate was 15.2%.
Operating cash flow was $267.9M (up 3% year over year), 150% of net income including minority interests. Non-cash charges added back $55.1M of depreciation and $100K of share-based compensation. Working capital and other items added $33.6M. Capital expenditures of $25.7M left free cash flow of $242.2M.
Questions
What was Hess Midstream LP's revenue in the third quarter 2026?
Hess Midstream LP (HESM) reported revenue of $410M for the third quarter 2026 (Q3 2026), -3% from a year earlier and +3% from the quarter before.
Was Hess Midstream LP profitable in the third quarter 2026?
Operating profit was $262M (64.0% of revenue) and net earnings $99.4M.
Source: Hess Midstream LP 10-Q on SEC EDGAR.