Abstract
Hess Midstream Partners LP will report fourth-quarter results on February 02, 2026 Pre-Market, with consensus pointing to modest top-line growth and steady earnings power under its fee-based framework.Market Forecast
Consensus expectations for Hess Midstream Partners LP’s current quarter indicate revenue of $417.05 million, up 6.58% year over year, with adjusted EPS at 0.72 and EBIT at $260.63 million, implying EPS growth of 5.87% and EBIT growth of 5.46%. Margin forecasts are not formally available; the prior quarter’s gross profit margin of 76.69% and net profit margin of 23.21% provide a baseline for quality of earnings and operational efficiency.The main business remains anchored by customer contract revenues, with expectations that contracted volumes and steady tariff realization sustain predictable cash flows while guiding toward mid-single-digit revenue growth for the quarter. The most promising segment continues to be customer contract revenues, which generated $419.60 million last quarter, while overall revenue grew 11.20% year over year, suggesting durable demand and solid execution.
Last Quarter Review
Hess Midstream Partners LP delivered last quarter revenue of $420.90 million, a gross profit margin of 76.69%, GAAP net profit attributable to the parent company of $97.70 million, a net profit margin of 23.21%, and adjusted EPS of 0.75, with adjusted EPS rising 19.05% year over year and total revenue increasing 11.20% year over year.A noteworthy highlight was quarter-on-quarter net profit growth of 8.19%, reflecting consistent cost discipline and throughput stability under its contract model. The main business — customer contract revenues — contributed $419.60 million, representing 99.69% of total revenue, with overall revenue advancing 11.20% year over year, thereby underscoring the reliability of the long-term contract portfolio, while the “Other” line added $1.30 million.
Current Quarter Outlook
Main Business: Customer Contract Revenues
Customer contract revenues are expected to anchor this quarter’s performance, with consensus revenue of $417.05 million and EPS at 0.72 signaling steady execution under existing long-term agreements. The predictability of these streams aids in preserving margin resilience, especially with last quarter’s gross profit margin at 76.69% providing a high-quality benchmark for operating performance. The current quarter’s year-over-year revenue growth of 6.58% suggests modest pricing and volume contribution within the contracted framework. From a cash flow perspective, the consistency in customer contract revenues remains integral to funding returns and sustaining distributions, with EBIT consensus at $260.63 million reinforcing the underlying profitability. The segment’s weight at 99.69% of total revenue last quarter indicates that quarter-on-quarter variance will primarily reflect contract dynamics rather than discretionary cycles, helping investors frame expectations around stability rather than volatility.Most Promising Business: Long-Term Contract Framework and Volume Tailwinds
Within the portfolio, the long-term contract framework tied to customer contract revenues continues to offer the largest growth potential by balancing throughput stability with incremental expansion opportunities. While exact margin forecasts for the quarter are not provided, last quarter’s net profit margin of 23.21% and gross profit margin of 76.69% set a standard for earnings quality that supports sustained cash generation at mid-single-digit growth. The prior quarter’s $419.60 million in customer contract revenues, combined with an overall revenue growth rate of 11.20%, exhibits how incremental capacity utilization and fee realization can lift the revenue base without requiring rapid cost inflation. For the current quarter, the 6.58% projected year-over-year revenue increase, together with solid EBIT visibility, points to continued scaling of contracted activity and effective cost management. If operational throughput remains consistent and contract terms continue to be honored without notable repricing, the segment’s contribution should reflect steady expansion and a smooth earnings trajectory.Stock Price Drivers This Quarter: Earnings Quality, Cash Generation, and Guidance Cadence
This quarter’s share-price reaction will likely lean on the interaction of earnings quality, cash generation, and the cadence of guidance around revenue, EPS, and margin durability. A revenue print close to the $417.05 million consensus, accompanied by EPS around 0.72 and EBIT near $260.63 million, would support the view that the contracted model remains intact and transferable into consistent quarterly performance. With the prior quarter’s net profit at $97.70 million and adjusted EPS of 0.75, investors will parse any shift in margin mix relative to the baseline gross profit margin of 76.69% and net profit margin of 23.21%, looking for confirmation that cost containment and throughput remain aligned. Commentary around quarter-on-quarter dynamics will matter, given last quarter’s 8.19% sequential net profit growth; any indication of similar QoQ stability would bolster confidence in earnings cadence. The visibility of revenue and EBIT across periods lends itself to consistent distribution coverage and a measured approach to capital allocation. If management’s outlook remains consistent with mid-single-digit revenue growth and stable margins, the equity narrative may coalesce around predictability and disciplined execution rather than aggressive upside variability. In the absence of formal gross margin and net margin guidance for this quarter, the market will lean on last quarter’s benchmarks and the fee-based revenue structure to frame expectations.Analyst Opinions
Within the specified window, formal street previews appear limited, and the prevailing tone inferred from consensus estimates is neutral, emphasizing steady revenue and EPS trajectories rather than directional calls on material outperformance or underperformance. With revenue projected to reach $417.05 million, up 6.58% year over year, and EPS at 0.72, the consensus aligns with incremental growth driven by contracted activity and disciplined operations. The absence of margin guidance constrains the scope for strong directional calls, leading to a focus on earnings quality and consistency as primary yardsticks for assessment.The majority viewpoint implied by the estimates favors a balanced stance, acknowledging the fee-based nature of the revenue model and its impact on EBIT predictability at $260.63 million while waiting for management’s commentary to refine near-term assumptions. This perspective anticipates that mid-single-digit year-over-year growth will be corroborated by throughput data and cost adherence, with attention on whether last quarter’s margin levels can be sustained. The consensus framework suggests that investors should look for signs of healthy earnings cadence and disciplined capital returns over the next reporting cycle, as those elements are likely to guide the share price reaction more than any single metric surprise.
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