Equity Profile

HESM

Hess Midstream LP

EnergyOil & Gas Storage & Transportation$5.0B

Jul29Wed

Pre-Earnings Brief

UpcomingQ2-2026Pre-Market9:00 AM EDT

Company Snapshot

Hess Midstream LP (HESM) operates in the energy sector, specifically focusing on oil and gas storage and transportation. As a midstream company, it plays a crucial role in the energy supply chain, helping to transport and store oil and gas products, which are essential for energy production and consumption.

Key Metrics to Watch

Earnings Per Share (EPS)

EPS is a key indicator of the company's profitability and financial health, which investors closely monitor.

$0.68

Revenue Growth

Revenue growth reflects the company's ability to expand its operations and capture market share in the energy sector.

N/A

1 more metrics, 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, beating estimates by 4.13%. The stock reacted positively, gaining 3.67% the following day.

Management Promises & Guidance

Focus on maintaining operational efficiency.
Commitment to returning value to shareholders through dividends.
Plans to invest in infrastructure to support growth.

Expectations

Wall Street Expectations

Overall, expectations are mixed as the market anticipates stable performance but is cautious about potential volatility in the energy sector.

Bull Case

If Hess Midstream continues its trend of beating EPS estimates, it could signal strong operational performance and investor confidence.

Bear Case

Conversely, any signs of revenue stagnation or increased operational costs could lead to negative sentiment and a decline in stock price.

Key Metrics to Watch

Earnings Per Share (EPS)

$0.68

EPS is a key indicator of the company's profitability and financial health, which investors closely monitor.

Revenue Growth

N/A

Revenue growth reflects the company's ability to expand its operations and capture market share in the energy sector.

Operating Margin

N/A

Operating margin indicates how efficiently the company is managing its costs relative to its revenue.

Expectations

Two Questions That Matter

The print will turn on these two things.

Will Hess Midstream's EPS exceed $0.68?

A beat on EPS would reinforce the company's strong operational performance and could drive stock price up.

What are the company's revenue growth projections for the upcoming quarters?

Revenue growth is crucial for assessing the company's ability to expand and compete in the energy sector.

Edge

What the Street Is Missing

Why consensus could be wrong

The Street may underestimate the impact of recent investments in infrastructure, which could lead to higher-than-expected revenue growth.

Supporting Evidence

Hess Midstream has a strong track record of beating EPS estimates, suggesting operational strength.

The options market is pricing a significant move, indicating that traders expect volatility that may not align with consensus.

Recent trends in energy demand could favor Hess Midstream's positioning in the market.

Key Risk

If revenue growth exceeds expectations due to increased demand, it could significantly shift market sentiment.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

This quarter's performance is pivotal as it will indicate whether Hess Midstream can maintain its growth trajectory amidst market fluctuations.

Bull Confirmed If

An EPS of $0.70 or higher would confirm the bull case, indicating strong profitability.

Bear Confirmed If

An EPS below $0.65 would confirm the bear case, suggesting potential 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 move, indicating that traders expect volatility around the earnings announcement.

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 the stock could rise by around 0.87%, confirming strong operational health.

In-Line / Cautious

If results are in line with expectations, the stock may see muted reactions as investors await further guidance.

Miss

A miss on EPS could lead to a decline of about 1.41%, reflecting investor disappointment and concerns about future performance.

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Any updates on infrastructure investments and their expected impact on revenue.
2Management's outlook on energy demand and pricing trends.
3Details on cost management strategies and their effectiveness.
4Insights into competitive positioning within the oil and gas transportation sector.
5Any changes to dividend policies or shareholder returns.

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.

Insider activity

PreviewView

Jul

Company Snapshot

Key Metrics to Watch

Earnings Per Share (EPS)

EPS is a key indicator of the company's profitability and financial health, which investors closely monitor.

$0.68

Revenue Growth

Revenue growth reflects the company's ability to expand its operations and capture market share in the energy sector.

N/A

1 more metrics, 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, beating estimates by 4.13%. The stock reacted positively, gaining 3.67% the following day.

Management Promises & Guidance

Focus on maintaining operational efficiency.
Commitment to returning value to shareholders through dividends.
Plans to invest in infrastructure to support growth.

Expectations

Wall Street Expectations

Overall, expectations are mixed as the market anticipates stable performance but is cautious about potential volatility in the energy sector.

Bull Case

If Hess Midstream continues its trend of beating EPS estimates, it could signal strong operational performance and investor confidence.

Bear Case

Conversely, any signs of revenue stagnation or increased operational costs could lead to negative sentiment and a decline in stock price.

Key Metrics to Watch

Earnings Per Share (EPS)

$0.68

EPS is a key indicator of the company's profitability and financial health, which investors closely monitor.

Revenue Growth

N/A

Revenue growth reflects the company's ability to expand its operations and capture market share in the energy sector.

Operating Margin

N/A

Operating margin indicates how efficiently the company is managing its costs relative to its revenue.

Expectations

Two Questions That Matter

The print will turn on these two things.

Will Hess Midstream's EPS exceed $0.68?

A beat on EPS would reinforce the company's strong operational performance and could drive stock price up.

What are the company's revenue growth projections for the upcoming quarters?

Revenue growth is crucial for assessing the company's ability to expand and compete in the energy sector.

Edge

What the Street Is Missing

Why consensus could be wrong

The Street may underestimate the impact of recent investments in infrastructure, which could lead to higher-than-expected revenue growth.

Supporting Evidence

Hess Midstream has a strong track record of beating EPS estimates, suggesting operational strength.

The options market is pricing a significant move, indicating that traders expect volatility that may not align with consensus.

Recent trends in energy demand could favor Hess Midstream's positioning in the market.

Key Risk

If revenue growth exceeds expectations due to increased demand, it could significantly shift market sentiment.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

This quarter's performance is pivotal as it will indicate whether Hess Midstream can maintain its growth trajectory amidst market fluctuations.

Bull Confirmed If

An EPS of $0.70 or higher would confirm the bull case, indicating strong profitability.

Bear Confirmed If

An EPS below $0.65 would confirm the bear case, suggesting potential 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 move, indicating that traders expect volatility around the earnings announcement.

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 the stock could rise by around 0.87%, confirming strong operational health.

In-Line / Cautious

If results are in line with expectations, the stock may see muted reactions as investors await further guidance.

Miss

A miss on EPS could lead to a decline of about 1.41%, reflecting investor disappointment and concerns about future performance.

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Any updates on infrastructure investments and their expected impact on revenue.
2Management's outlook on energy demand and pricing trends.
3Details on cost management strategies and their effectiveness.
4Insights into competitive positioning within the oil and gas transportation sector.
5Any changes to dividend policies or shareholder returns.