Post-earnings recap
Reported
Mon, May 4, 2026
EPS actual
$0.68
EPS est.
$0.65
EPS surprise
+4.13%
1-day move
+3.67%
Hess Midstream LP reported better-than-expected earnings per share, which contributed to a positive stock reaction, with shares rising by 3.67%. However, there was no revenue reported, making it difficult to assess overall performance. The lack of guidance and management commentary leaves some uncertainty about future expectations.
| Metric | Actual | Expected | Surprise |
|---|---|---|---|
| EPS | $0.68 | $0.67 | +4.13% |
| Revenue | — | $390M | — |
No transcript is on record, and the analysis is based on numerical results only.
Hess Midstream LP (HESM) operates in the energy sector, focusing on oil and gas storage and transportation. With a market cap of $5 billion, the company plays a crucial role in the infrastructure that supports energy distribution, which is vital for meeting consumer demand and managing supply chains in the oil and gas industry.
Last quarter
In Q4-2025, Hess Midstream reported an EPS of $0.72, slightly missing the estimate of $0.73. The stock reacted negatively, dropping 1.41% the following day.
EPS beat streak
2Q
EPS beat rate
88%
Avg EPS surprise
+7.93%
Avg 1-day reaction
+0.65%
Analysts expect Hess Midstream to report earnings of $0.67 per share on revenues of $390 million for Q1-2026. The market is watching closely for any signs of growth or challenges in the current energy landscape.
Bull case
If Hess Midstream beats earnings expectations, it could signal strong operational performance and increased demand for its services, potentially boosting investor confidence.
Bear case
Conversely, if the company misses its earnings target, it may raise concerns about its ability to manage costs and competition in the energy sector, leading to a negative market reaction.
Key metrics to watch
EPS
0.67Earnings per share is a key indicator of profitability and will show how well the company is managing its costs and revenues.
Revenue
390MTotal revenue reflects the company's ability to generate sales from its operations, which is critical for assessing growth.
The print will turn on these.
Q1
Will the EPS exceed $0.67, indicating strong operational performance?
A beat on EPS could signal effective cost management and robust demand, which the market is keen to see.
Q2
What are the revenue figures compared to the $390 million consensus?
Revenue performance will provide insight into the company's growth trajectory and market position.
—
Est. EPS
$-0.54
Est. Rev
$1.3B
Impl. Move
±4.2%
Why consensus could be wrong
The consensus may underestimate the impact of recent operational efficiencies that could drive better-than-expected earnings.
Supporting evidence
Hess Midstream has consistently beaten EPS estimates in the past, with an 88% beat rate.
The options market is pricing in higher volatility, indicating that traders expect significant movement based on earnings.
Previous quarters show that the company has managed to surprise positively despite market challenges.
Key risk
If EPS comes in below $0.60, it could undermine confidence in the company's operational strategies.
Pre-commit to what would confirm each case.
The market is debating whether Hess Midstream can sustain its profitability amidst fluctuating energy prices and operational costs.
Bull confirmed if
An EPS of $0.70 or higher would confirm the bull case, indicating strong profitability.
Bear confirmed if
An EPS below $0.60 would confirm the bear case, raising concerns about operational efficiency.
What the market is pricing for the move.
Implied Move
±4.53%
Historical Avg
±2.0%
The options market is pricing in a significant move around the earnings report, suggesting that traders expect volatility based on the results.
Options are pricing ±4.5% while HESM has averaged ±2.0% over the last 8 prints — setup is pricing rich.
ATM IV
0.3%
30d HV
22.9%
Smart-money positioning from the most recent 13F filings.
Institutional
89.67%
of float
Insider
0.86%
of float
Holders
373
institutions
Top Holders· as of Jun 2026
Alps Advisors Inc.
29,254,074 sh · $966.3M
22.79%
-5.3%
Likely market behavior by outcome. Not investment advice.
Beat & raise
If Hess Midstream beats expectations, history suggests the stock could rise by about 0.07% on the first day, confirming positive market sentiment.
In line / cautious
If results are in line with expectations, the stock may see muted movement as investors await further guidance.
Miss
Should the company miss earnings expectations, history suggests a potential decline of around 1.41% in the stock price.
The lines on the call that would change the story.
Goldman Sachs Group Inc
8,389,537 sh · $277.1M
6.54%
5.5%
Invesco Ltd.
7,535,978 sh · $248.9M
5.87%
4.9%
Mirae Asset Global ETFs Holdings Ltd.
7,055,800 sh · $233.1M
5.50%
-0.1%
Blackstone Inc
5,786,130 sh · $191.1M
4.51%
-25.5%
13F filings updated quarterly. Position deltas show change in shares vs. the prior quarter.