Hess Midstream hits record high on upbeat annual profit outlook

Hess Midstream LP

29/01/2025 18:30

** Shares of oil producer Hess Midstream LP  HESM.N  hit
record high, now up as much as 2.4% at $41.6
    ** Expects 2025 net income of $715-$765 mln compared with
analysts' estimates of $315.1 mln
    ** Expects throughput volumes in 2025 to increase by about
10% across oil and gas systems vs 2024
    ** Sees adj EBITDA of $1,235-$1,285 mln, an 11% increase
from 2024 and at the midpoint of guidance, driven by growing
revenues
    ** Co reports Q4 EPS of 68 cents vs 55 cents last year
    ** Also expects total capital expenditures of about $300 mln
in 2025
    ** "We are starting construction of a gas processing plant
north of the river, which, when online in 2027, will support
growth for Hess Midstream through the end of the decade,” says
President John Gatling
    ** Including session's gains, HESM stock has risen ~12.69%
YTD, compared with 17.07% rise in 2024

 (Reporting by Megha Kumari in Bengaluru)
 ((Megha.Kumari@thomsonreuters.com;))