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Hess Midstream HESM Gathering — Operating Costs And Expenses

Other segment segments

Processing And Storage
$28M-8.5%
Terminaling And Export
$7.5M-14.8%

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Other financials

Income statement

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Revenue$399.0M-3.7%
Operating income$253.2M-2.7%
Net income$96.4M+6.8%

Balance sheet

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Cash & equivalents$5.0M+11.1%
Total debt$3.7B-0.9%
Total assets$4.3B-3.8%

Cash flow

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Operating cash flow$278.6M+0.6%
CapEx$23.1M-63.6%
Free cash flow$255.5M+19.7%

Valuation

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Market cap$5.13B-6.4%
Enterprise value$8.8B-4.2%
P/E13.7×-5.2×
P/S3.2×-0.3×

Profitability

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Operating margin62.1%+0.2pp
Net margin23.2%+4.7pp
FCF margin51.9%+9.5pp

Returns & leverage

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Current ratio0.8×+0.1×

Where this comes from

Reported directly by Hess Midstream in its filing.

Tagged under the XBRL concept us-gaap:OperatingCostsAndExpenses.

The source filing: Hess Midstream’s 10-Q, filed August 6, 2026.

Filed
Aug 6, 2026, 4:15 PM EDT
Fiscal quarter
Q2 FY2026
Calendar quarter
Q2 2026
Accession
0001193125-26-338055
(in millions) / For the Three Months Ended June 30, 2026GatheringProcessing and StorageTerminaling and ExportTotal Reportable SegmentsInterest and OtherConsolidated
Revenues and other income$209.8$151.3$37.9$399.0-$399.0
Operating and maintenance expenses (exclusive of depreciation shown separately below)50.428.07.585.9-85.9
Depreciation expense36.613.44.454.4-54.4
General and administrative expenses2.80.90.34.01.55.5
Income from equity investments-6.1-6.1-6.1
Interest expense, net----54.554.5
Income tax expense----31.131.1
Adjusted EBITDA156.6128.530.1315.2

Item 1. Financial Statements

FAQ

What is Hess Midstream's gathering — operating costs and expenses?
Hess Midstream (HESM) reported gathering — operating costs and expenses of $50.4M in Q2 2026.
How has Hess Midstream's gathering — operating costs and expenses changed year-over-year?
Hess Midstream's gathering — operating costs and expenses decreased by 7.9% year-over-year, from $54.7M to $50.4M.
What is the long-term trend for Hess Midstream's gathering — operating costs and expenses?
Over 3 years (2022 to 2025), Hess Midstream's gathering — operating costs and expenses has grown at a 8.3% compound annual growth rate (CAGR), from $170.2M to $216M.
What does gathering — operating costs and expenses mean?
Includes the direct costs associated with operating and maintaining the gathering infrastructure, such as field labor, maintenance, and utility expenses. Monitoring this metric helps assess the operational efficiency and cost management discipline within the gathering business segment.

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