Equity Profile

HESM

Hess Midstream LP

EnergyOil & Gas Storage & Transportation$5.1B

Jul29Wed

Pre-Earnings Brief

UpcomingQ2-2026Pre-Market9:00 AM EDT

Company Snapshot

Hess Midstream LP 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 energy supply chain, providing essential infrastructure for the movement and storage of hydrocarbons.

Key Metrics to Watch

EPS

Earnings per share is a key indicator of profitability and financial health, reflecting the company's ability to generate profit for shareholders.

0.67

Revenue

Total revenue indicates the overall sales performance and demand for Hess Midstream's services, which can impact future growth prospects.

396M

Wall Street expectations, options signals, track record, and call prep available with Pro.

HESM Q2-2026 Earnings Preview

Context

Company Snapshot

Earnings Scorecard·Last 8Q

EPS Beat Streak

EPS Beat Rate

88%

Avg EPS Surprise

+8.13%

Avg Stock Reaction

+0.59%

Last Quarter Recap

In Q1-2026, Hess Midstream reported an EPS of $0.68, surpassing estimates by 4.13%. The stock reacted positively, gaining 3.67% the following day.

Management Promises & Guidance

Continued focus on expanding infrastructure capacity.
Commitment to maintaining operational efficiency.
Plans to enhance customer relationships and service offerings.

Expectations

Wall Street Expectations

Analysts expect Hess Midstream to report solid earnings, with consensus EPS at $0.67 and revenue at $396 million. The market is closely watching for any surprises.

Bull Case

If Hess Midstream beats EPS estimates and shows strong revenue growth, it could signal robust demand for its services and lead to a positive stock reaction.

Bear Case

Conversely, if the company misses expectations or provides weak guidance, it could raise concerns about demand in the energy sector and negatively impact the stock.

Key Metrics to Watch

EPS

0.67

Earnings per share is a key indicator of profitability and financial health, reflecting the company's ability to generate profit for shareholders.

Revenue

396M

Total revenue indicates the overall sales performance and demand for Hess Midstream's services, which can impact future growth prospects.

Expectations

Two Questions That Matter

The print will turn on these two things.

Will the EPS exceed the consensus estimate of $0.67?

A beat on EPS could reinforce investor confidence and lead to a positive stock reaction.

What guidance will management provide regarding future revenue growth?

Future revenue guidance will be critical for assessing the company's growth trajectory and market demand.

Edge

What the Street Is Missing

Why consensus could be wrong

The consensus may underestimate the potential for Hess Midstream to outperform due to its recent operational efficiencies and strategic expansions.

Supporting Evidence

Hess Midstream has consistently beaten EPS estimates in the past, with an 88% beat rate.

The stock has shown resilience in previous quarters, often reacting positively to earnings surprises.

Options pricing suggests heightened expectations, which may be overly cautious given the company's recent performance.

Key Risk

If revenue growth exceeds $400 million, it could challenge the current bearish sentiment.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

The market is debating whether Hess Midstream can sustain its growth trajectory amid fluctuating energy prices and demand.

Bull Confirmed If

An EPS of $0.70 or higher would confirm strong operational performance and investor confidence.

Bear Confirmed If

An EPS below $0.60 would signal potential issues with demand or operational challenges.

Pre-Earnings Positioning

Options Market

Implied Move

±10.27%

Historical Avg

±2.1%

Pricing rich

The options market is pricing in a significant potential move, indicating that traders expect volatility around the earnings report.

Options are pricing ±10.3% while HESM has averaged ±2.1% over the last 8 prints — setup is pricing rich.

Detail

ATM IV

0.3%

30d HV

28.7%

Calls (11K)P/C Ratio: 0.72Puts (9K)

Preparation

Post-Print Playbook

Likely market behavior by outcome — not investment advice.

Beat & Raise

If Hess Midstream beats expectations, history suggests a potential stock increase of around 0.87%, confirming strong demand.

In-Line / Cautious

An in-line report could lead to a muted response, as investors await further clarity on future growth.

Miss

If the company misses expectations, history suggests a potential decline of around 1.41%, raising concerns about demand.

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Any updates on infrastructure expansion plans.
2Details on customer demand trends in the oil and gas sector.
3Management's outlook on energy prices and their impact on operations.
4Insights into cost management strategies and operational efficiencies.
5Any commentary on competitive positioning in the market.

See the full picture

AI-powered briefs, options data, and 20 quarters of history — everything you need before earnings.

No charge today · Auto-bills $8/mo after 7 days · Cancel anytime

More Earnings This Week

5 Reports

Jul27

DYNBMO

Dyne Therapeutics, Inc.

PreviewView

Jul27

ARLPBMO

Company Snapshot

Key Metrics to Watch

EPS

Earnings per share is a key indicator of profitability and financial health, reflecting the company's ability to generate profit for shareholders.

0.67

Revenue

Total revenue indicates the overall sales performance and demand for Hess Midstream's services, which can impact future growth prospects.

396M

Wall Street expectations, options signals, track record, and call prep available with Pro.

HESM Q2-2026 Earnings Preview

Context

Company Snapshot

Earnings Scorecard·Last 8Q

EPS Beat Streak

EPS Beat Rate

88%

Avg EPS Surprise

+8.13%

Avg Stock Reaction

+0.59%

Last Quarter Recap

In Q1-2026, Hess Midstream reported an EPS of $0.68, surpassing estimates by 4.13%. The stock reacted positively, gaining 3.67% the following day.

Management Promises & Guidance

Continued focus on expanding infrastructure capacity.
Commitment to maintaining operational efficiency.
Plans to enhance customer relationships and service offerings.

Expectations

Wall Street Expectations

Analysts expect Hess Midstream to report solid earnings, with consensus EPS at $0.67 and revenue at $396 million. The market is closely watching for any surprises.

Bull Case

If Hess Midstream beats EPS estimates and shows strong revenue growth, it could signal robust demand for its services and lead to a positive stock reaction.

Bear Case

Conversely, if the company misses expectations or provides weak guidance, it could raise concerns about demand in the energy sector and negatively impact the stock.

Key Metrics to Watch

EPS

0.67

Earnings per share is a key indicator of profitability and financial health, reflecting the company's ability to generate profit for shareholders.

Revenue

396M

Total revenue indicates the overall sales performance and demand for Hess Midstream's services, which can impact future growth prospects.

Expectations

Two Questions That Matter

The print will turn on these two things.

Will the EPS exceed the consensus estimate of $0.67?

A beat on EPS could reinforce investor confidence and lead to a positive stock reaction.

What guidance will management provide regarding future revenue growth?

Future revenue guidance will be critical for assessing the company's growth trajectory and market demand.

Edge

What the Street Is Missing

Why consensus could be wrong

The consensus may underestimate the potential for Hess Midstream to outperform due to its recent operational efficiencies and strategic expansions.

Supporting Evidence

Hess Midstream has consistently beaten EPS estimates in the past, with an 88% beat rate.

The stock has shown resilience in previous quarters, often reacting positively to earnings surprises.

Options pricing suggests heightened expectations, which may be overly cautious given the company's recent performance.

Key Risk

If revenue growth exceeds $400 million, it could challenge the current bearish sentiment.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

The market is debating whether Hess Midstream can sustain its growth trajectory amid fluctuating energy prices and demand.

Bull Confirmed If

An EPS of $0.70 or higher would confirm strong operational performance and investor confidence.

Bear Confirmed If

An EPS below $0.60 would signal potential issues with demand or operational challenges.

Pre-Earnings Positioning

Options Market

Implied Move

±10.27%

Historical Avg

±2.1%

Pricing rich

The options market is pricing in a significant potential move, indicating that traders expect volatility around the earnings report.

Options are pricing ±10.3% while HESM has averaged ±2.1% over the last 8 prints — setup is pricing rich.

Detail

ATM IV

0.3%

30d HV

28.7%

Calls (11K)P/C Ratio: 0.72Puts (9K)

Preparation

Post-Print Playbook

Likely market behavior by outcome — not investment advice.

Beat & Raise

If Hess Midstream beats expectations, history suggests a potential stock increase of around 0.87%, confirming strong demand.

In-Line / Cautious

An in-line report could lead to a muted response, as investors await further clarity on future growth.

Miss

If the company misses expectations, history suggests a potential decline of around 1.41%, raising concerns about demand.

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Any updates on infrastructure expansion plans.
2Details on customer demand trends in the oil and gas sector.
3Management's outlook on energy prices and their impact on operations.
4Insights into cost management strategies and operational efficiencies.
5Any commentary on competitive positioning in the market.