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Hess Midstream HESM Gathering — Revenue

Other segment segments

Processing And Storage
$151.3M-4.2%
Terminaling And Export
$37.9M+11.8%

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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:Revenues.

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 — revenue?
Hess Midstream (HESM) reported gathering — revenue of $209.8M in Q2 2026.
How has Hess Midstream's gathering — revenue changed year-over-year?
Hess Midstream's gathering — revenue decreased by 5.7% year-over-year, from $222.4M to $209.8M.
What is the long-term trend for Hess Midstream's gathering — revenue?
Over 4 years (2021 to 2025), Hess Midstream's gathering — revenue has grown at a 8.4% compound annual growth rate (CAGR), from $630.6M to $870.6M.
What does gathering — revenue mean?
Represents the total gross income generated from the gathering segment, primarily through fee-based services for natural gas, crude oil, and produced water. This metric reflects the scale of operations and the demand for midstream gathering infrastructure services provided to customers.

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