← Hess Midstream LP
| Annual Trend | FY 2017 | FY 2018 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total Revenue | $579.5m |
$712.7m
+22.99%
|
$848.3m
+19.03%
|
$1.1b
+28.72%
|
$1.2b
+10.25%
|
$1.3b
+5.93%
|
$1.3b
+5.76%
|
$1.5b
+10.89%
|
$1.6b
+8.41%
|
|
| Revenue from Contract with Customer, Including Assessed Tax | — | $712.0m | $847.6m | $1.1b | $1.2b | $1.3b | $1.3b | $1.5b | $1.6b | |
| General and Administrative Expense | $13.9m | $14.1m | $52.4m | $21.1m | $22.7m | $23.1m | $26.2m | $26.1m | $28.5m | |
| Restructuring Costs | — | — | $26.2m | — | — | — | — | — | — | |
| Less: General partners' interest in net income prior to the Restructuring | $800k | $1.7m | $3.4m | — | — | — | — | — | — | |
| Units outstanding prior to the Restructuring, Basic | $53,800,000.00 | $54,600,000.00 | $54,600,000.00 | — | — | — | — | — | — | |
| Units outstanding prior to the Restructuring, Diluted | $53,800,000.00 | $54,700,000.00 | $54,800,000.00 | — | — | — | — | — | — | |
| Operating expenses: | ||||||||||
| Operating Costs and Expenses | $186.0m | $193.5m | $276.8m | $337.4m | $288.3m | $279.6m | $313.0m | $347.3m | $370.6m | |
| Total operating costs and expenses | $316.4m | $334.5m | $471.7m | $515.4m | $476.6m | $484.0m | $531.7m | $576.5m | $613.2m | |
| Operating Income (Loss) | $263.1m |
$378.2m
+43.75%
|
$376.6m
-0.42%
|
$576.5m
+53.08%
|
$727.2m
+26.14%
|
$791.2m
+8.80%
|
$816.9m
+3.25%
|
$919.0m
+12.50%
|
$1.0b
+9.70%
|
|
| Interest expense, net | $25.8m | $53.3m | $62.4m | ($94.7m) | $105.4m | $149.3m | $179.0m | $202.2m | $225.6m | |
| Gain on sale of property, plant and equipment | $4.7m | $600k | — | $100k | — | — | — | — | — | |
| Income (Loss) from Equity Method Investments | — | — | $3.4m | $10.3m | $10.6m | $5.3m | $7.7m | $14.0m | $15.9m | |
| Other Income | $200k | $700k | $700k | $300k | $0 | $2.0m | $2.5m | $3.6m | $4.1m | |
| Interest Income (Expense), Nonoperating, Net | — | ($53.3m) | ($62.4m) | ($94.7m) | ($105.4m) | ($149.3m) | ($179.0m) | ($202.2m) | ($225.6m) | |
| Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest | $242.0m | $325.5m | $317.6m | $492.2m | $632.4m | $647.2m | $645.6m | $730.8m | $798.4m | |
| Income Tax Expense (Benefit) | — | — | ($100k) | $7.3m | $14.6m | $26.6m | $37.9m | $71.8m | $113.8m | |
| Limited partners' interest in net income | $40.4m | $69.1m | $66.7m | $24.0m | $46.4m | — | — | — | — | |
| Net income attributable to Hess Midstream LP per Class A share, Basic | — | — | $1 | $1 | $2 | $2 | $2 | $3 | $3 | |
| Net income attributable to Hess Midstream LP per Class A share, Diluted | — | — | $1 | $1 | $2 | $2 | $2 | $2 | $3 | |
| Net Income (Loss) Attributable to Parent | $41.2m |
$70.8m
+71.84%
|
$70.1m
-0.99%
|
$24.0m
-65.76%
|
$46.4m
+93.33%
|
$83.9m
+80.82%
|
$118.6m
+41.36%
|
$223.1m
+88.11%
|
$352.9m
+58.18%
|
|
| Net Income (Loss) Attributable to Noncontrolling Interest | $175.4m | $301.5m | $302.6m | $460.9m | $571.4m | $536.7m | $489.1m | $435.9m | $331.7m | |
| Weighted average Class A shares outstanding, Basic | — | — | 18.0m | 18.0m | 272.3m | 41.3m | 234 | 222 | 211.2m | |
| Weighted average Class A shares outstanding, Diluted | — | — | 18.0m | 18.1m | 298.1m | 41.4m | 290 | 311 | 334.3m | |
| Additional Financial Items | ||||||||||
| Operating and maintenance expenses (exclusive of depreciation shown separately below) | $186.0m | $193.5m | $276.8m | $337.4m | $288.3m | $279.6m | $313.0m | $347.3m | $370.6m | |
| Depreciation expense | $116.5m | $126.9m | $142.5m | $156.9m | $165.6m | $181.3m | $192.5m | $203.1m | $214.1m | |
| Income from equity investments | — | — | $3.4m | $10.3m | $10.6m | $5.3m | $7.7m | $14.0m | $15.9m |
Values abbreviated: b = billions, m = millions, k = thousands. Per share data in USD.