Hess Midstream Partners LP (HESM) Misses Q4 EPS by 1c

Hess Midstream Partners LP (NYSE: HESM) reported Q4 EPS of $0.26, $0.01 worse than the analyst estimate of $0.27.

Highlights:

• Net income was $77.1 million. Net cash provided by operating activities was $120.9 million.
• Adjusted EBITDA1 was $106.9 million, of which $21.2 million was attributable to Hess Midstream Partners LP.
• DCF1 of Hess Midstream Partners LP was $21.0 million resulting in 1.2x DCF coverage of distributions for the period.
• Increased quarterly cash distribution to $0.3218 per unit, an increase of 3.6% compared with the prior quarter or 15% on an annualized basis, consistent with targeted long-term annual distribution growth per unit.
• Successfully commissioned the Hawkeye Oil Facility and commenced delivering crude oil north of the Missouri River.
• Continued execution of growth infrastructure projects with ramp-up of the Johnson’s Corner Header System project.
• Compared with the prior-year quarter, throughput volumes increased 17% for gas gathering, 28% for crude oil gathering, 22% for gas processing and 44% for crude terminaling, driven by strong operating performance of our assets, increased third-party volumes and completion of our key gathering and terminaling projects during the second half of 2017.
• Revolver remains undrawn with capacity of $300 million available to fund future growth.

For earnings history and earnings-related data on Hess Midstream Partners LP (HESM) click here.

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