Hess Midstream reports Q1 EPS 59c, consensus 63c

Reports Q1 revenue $355.6M, consensus $351.86M. Reports adjusted EBITDA was $275.8M and adjusted free cash flow was $194.2M. Increased quarterly cash distribution to $65.16c per class A share for the first quarter of 2024, an approximate 2.7% increase compared with the fourth quarter of 2023. “We delivered a solid first quarter, underpinned by strong operational performance and continued focus on gas capture,” said John Gatling, President and Chief Operating Officer of Hess Midstream. “We remain focused on safely executing our operational priorities and delivering on our growth strategy, which continues to drive sustainable cash flow generation and the potential for additional return of capital to our shareholders.”