Hess Midstream LP (NYSE: HESM) shares setled Monday, on word of fourth-quarter 2025 net income of $168.0 million compared with net income of $172.1 million for the fourth quarter of 2024. After deduction for noncontrolling interests, net income attributable to Hess Midstream was $93.3 million, or $0.72 basic earnings per Class A share, compared with $0.68 basic earnings per Class A share in the fourth quarter of 2024. Hess Midstream generated Adjusted EBITDA of $309.1 million. Net cash provided by operating activities was $245.6 million and Adjusted Free Cash Flow was $207.8 million.
“In 2025, we successfully completed our planned multiyear infrastructure project buildout,” said Jonathan Stein, Chief Executive Officer of Hess Midstream. “We remain focused on reliable operating performance and expect substantially lower future capital spending, supporting growing Adjusted Free Cash Flow that positions us well for incremental shareholder returns and debt repayment.”
On July 18, 2025, Hess Corporation and Chevron completed the previously announced merger contemplated by the Agreement and Plan of Merger, dated as of October 22, 2023 As a result of the Merger, Chevron is the direct parent of Hess and, therefore, indirectly owns an approximately 37.9% interest in Hess Midstream on a consolidated basis.
HESM shares ditched 36 cents, or 1%, to $35.11.
