Hess Midstream shares up 1.8% premarket after Q2 adj EBITDA beat

Hess Midstream LP (NYSE: HESM) shares rose 1.8% in premarket trading following the release of its second quarter 2026 financial results, which showed a beat on adjusted EBITDA expectations. The company reported net income of $157.7 million for the quarter, with net cash provided by operating activities reaching $253.3 million. Net income attributable to Hess Midstream LP was $87.6 million, translating to $0.68 basic earnings per Class A share after accounting for noncontrolling interests.

The company also announced a quarterly cash distribution of $0.7792 per Class A share for the quarter ended March 31, 2026, marking an increase of $0.0151 per share. Earlier in the year, Hess Midstream executed a $60 million repurchase of Class B units from an affiliate of Chevron, its sponsor, as part of its capital allocation strategy.

The positive earnings report and distribution increase have contributed to investor optimism, reflected in the premarket share price movement. Investors will likely continue to monitor the company’s operational performance and capital deployment decisions as key indicators of long-term value.