Hess Midstream forecasts 2027 adjusted EBITDA of $850 million-$950 million
HESM•Hess Midstream forecasts 2027 adjusted EBITDA of $850 million-$950 million and adjusted free cash flow of $525 million-$625 million, assuming a year-end 2026 closing of a DJ Basin asset deal with Chevron. It raised its 2026 outlook for net income, adjusted EBITDA and adjusted free cash flow.
1. 2026 outlook raised
Hess Midstream raised its 2026 outlook to net income of $650 million-$675 million, adjusted EBITDA of $1.23 billion-$1.25 billion and adjusted free cash flow of $910 million-$935 million. Its 2026 throughput view is 435-445 MMcf/d for gas gathering, 110-120 MBbl/d for crude gathering and 425-435 MMcf/d for gas processing.
2. 2027 preliminary forecast
The preliminary 2027 forecast assumes a year-end 2026 closing of a DJ Basin asset deal with Chevron. Hess Midstream expects 2027 capital expenditures of $125 million and leverage of 3.75x-4.0x.
3. Distribution plan
The company targets 5% per-share distribution growth in the third and fourth quarters of 2026, with 2027 distributions held at the fourth-quarter 2026 level.
