Hess Midstream Partners LP (HESM) Misses Q1 EPS by 4c

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Go back to Hess Midstream Partners LP (HESM) Misses Q1 EPS by 4c

Hess Midstream LP Reports Estimated Results for the First Quarter Of 2022

April 27, 2022 8:00 AM EDT

Key Developments:

Repurchased $400.0 million of Class B units from Hess Corporation and Global Infrastructure Partners in an accretive transaction completed in April 2022. Increased quarterly cash distribution to $0.5492 per Class A share for the first quarter of 2022, an approximate 6.3% increase compared with the fourth quarter of 2021, reflecting a 5% increase in the per share distribution level in addition to the 5% annual distribution per share growth target.

First Quarter 2022 Highlights:

Net income was $159.6 million. Net cash provided by operating activities was $190.6... More