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Hess Midstream HESM Q4 2025 Annual earnings

Reported February 2, 2026 · Before market open

Revenue$404.2MMiss by $15.0M
EPS$0.72Miss by $0.00
Revenue estimate$419.2M
EPS estimate$0.72

Next report

Nov 2, 2026 (in 2 months)
Revenue estimate$411.3M
EPS estimate$0.74

Financials

Q4 2025

Income statement

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Revenue$404.2M+2.1%
Operating income$251.6M+3.5%
Net income$93.3M+32.5%

Balance sheet

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Cash & equivalents$1.9M-55.8%
Total debt$3.8B+8.6%
Total assets$4.4B+5.7%

Cash flow

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Operating cash flow$245.6M-5.0%
CapEx$66.7M-29.9%
Free cash flow$178.9M+9.5%

Valuation & ratios

Valuation

as of 12/31/25
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Market cap$4.46B+15.8%
Enterprise value$8.23B+12.5%
P/E12.6×-4.6×
P/S2.8×+0.2×

Profitability

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Operating margin62.2%+0.7pp
Net margin21.8%+6.8pp
FCF margin44.9%+2.5pp

Returns & leverage

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Current ratio0.8×+0.2×

Segments

By product

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Oil And Gas Service$178.0M+0.1%
Processing And Storage Services$146.4M-2.2%
Water Gathering And Disposal Services$33.0M+2.8%
Terminaling And Export Services$31.0M+7.3%

By segment

See full
Gathering$217.3M+2.5%
Processing And Storage$154.7M+0.5%
Terminaling And Export$32.2M+7.7%

FAQ

When did Hess Midstream report Q4 2025 earnings?
Hess Midstream (HESM) reported Q4 2025 earnings on February 2, 2026 before market open.
What were Hess Midstream's Q4 2025 revenue and EPS?
Hess Midstream reported revenue of $404.2M and eps of $0.72 for Q4 2025.
Did Hess Midstream beat estimates in Q4 2025?
Revenue missed the consensus estimate of $419.2M by $15.0M. EPS missed the consensus estimate of $0.72 by $0.00.
How did Hess Midstream's Q4 2025 results compare year-over-year?
Compared to the same quarter a year prior, revenue grew 2.3% from $395.0M a year earlier and eps grew 5.9% from $0.68.
Where can I find Hess Midstream's Q4 2025 SEC filings?
You can read the 8-K earnings release (0001193125-26-031835) and the 10-K periodic report (0001193125-26-071592) directly on SEC EDGAR. The filing index links above go to sec.gov.