HESM FY 2023 Earnings Report — Hess Midstream LP Revenue & Financial Results | Market Cap Arena

Hess Midstream LPHESM

FY 2023 Earnings

Reported December 29, 2023

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2023	Prior Q	FY 2022	QoQ Change	YoY Change
Revenue	$1.3B	—	—	—	—
Op. Income	$817M	—	—	—	—
Gross Margin	85.7%	—	—	—	—
Net Margin	8.8%	—	—	—	—
EPS (Diluted)	$2.08	—	—	—	—
Free Cash Flow	$643M	—	—	—	—

Revenue Flow

Item	Amount
REVENUE	$1.3B
Cost of Revenue	$193M
GROSS PROFIT	$1.2B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$26M
SG&A Expenses	$26M
Other Expenses	$311M
Operating Expenses	$337M
Cost & Expenses	$529M
OPERATING INCOME	$817M
Interest Income	$0
Interest Expense	$179M
Other Income/Expenses	-$171M
INCOME BEFORE TAX	$646M
Income Tax Expense	$38M
Net Income from Continuing Ops	$608M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$119M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$119M
D&A	$193M
EBIT	$825M
EBITDA	$1.0B
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$1.3B
Cost of Revenue	$193M
GROSS PROFIT	$1.2B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$26M
SG&A Expenses	$26M
Other Expenses	$311M
Operating Expenses	$337M
Cost & Expenses	$529M
OPERATING INCOME	$817M
Interest Income	$0
Interest Expense	$179M
Other Income/Expenses	-$171M
INCOME BEFORE TAX	$646M
Income Tax Expense	$38M
Net Income from Continuing Ops	$608M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$119M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$119M
D&A	$193M
EBIT	$825M
EBITDA	$1.0B
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$119M
Depreciation & Amortization	$193M
Stock-Based Compensation	$2M
Deferred Income Tax	$38M
Other Non-Cash Items	$501M
Change in Working Capital	$15M
OPERATING CASH FLOW	$866M
Capital Expenditure	-$224M
Acquisitions (Net)	$0
Purchases of Investments	$0
Sales/Maturities of Investments	$0
Other Investing Activities	$0
NET CASH FROM INVESTING	-$224M
Net Debt Issuance	$320M
Common Stock Repurchased	-$400M
Common Dividends Paid	-$128M
Other Financing Activities	-$433M
NET CASH FROM FINANCING	-$641M
FREE CASH FLOW	$643M
Net Change in Cash	$2M

Balance Sheet

Item	Amount
Cash & Equivalents	$5M
Short-Term Investments	$0
Net Receivables	$124M
Inventory	$0
Other Current Assets	$7M
TOTAL CURRENT ASSETS	$137M
PP&E (Net)	$3.2B
Goodwill	$0
Intangible Assets	$0
Long-Term Investments	$90M
Tax Assets	$0
Other Non-Current Assets	$333M
TOTAL NON-CURRENT ASSETS	$3.7B
TOTAL ASSETS	$3.8B
Account Payables	$80M
Short-Term Debt	$13M
Deferred Revenue	$0
Other Current Liabilities	$44M
TOTAL CURRENT LIABILITIES	$210M
Long-Term Debt	$3.2B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$17M
TOTAL NON-CURRENT LIABILITIES	$3.2B
TOTAL LIABILITIES	$3.4B
Common Stock	$340M
Additional Paid-In Capital	$0
Retained Earnings	$0
Treasury Stock	$0
Accum. Other Comp. Income	$0
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$340M
Minority Interest	$23M
TOTAL EQUITY	$363M
TOTAL LIABILITIES & EQUITY	$3.8B
Total Debt	$3.2B
Net Debt	$3.2B