Equity Profile

HESM

Hess Midstream LP

EnergyOil & Gas Storage & Transportation$5.0B

Jul29Wed

Pre-Earnings Brief

UpcomingQ2-2026Pre-Market9:00 AM EDT

Company Snapshot

Hess Midstream LP (HESM) operates in the energy sector, focusing on oil and gas storage and transportation. As a midstream company, it plays a crucial role in the energy supply chain, connecting producers to markets and ensuring efficient transportation of resources.

Key Metrics to Watch

Earnings Per Share (EPS)

EPS is a key indicator of the company's profitability and financial health, which investors will closely monitor this quarter.

N/A

Revenue Growth

Revenue growth reflects the company's ability to expand its operations and capture market demand, a critical factor for investor confidence.

N/A

1 more metrics, Wall Street expectations, options signals, track record, and call prep available with Pro.

HESM Q2-2026 Earnings Preview

Context

Company Snapshot

Earnings Scorecard·Last 8Q

EPS Beat Streak

EPS Beat Rate

88%

Avg EPS Surprise

+8.13%

Avg Stock Reaction

+0.59%

Last Quarter Recap

In Q1-2026, Hess Midstream reported an EPS of $0.68, beating estimates by 4.13%. The stock reacted positively, gaining 3.67% the following day.

Management Promises & Guidance

Expectations

Wall Street Expectations

Investors are cautiously optimistic ahead of the earnings report, given the company's strong track record of beating EPS estimates.

Bull Case

If Hess Midstream continues its trend of exceeding EPS expectations, it could see significant stock appreciation, especially if revenue growth is also strong.

Bear Case

Conversely, if the company fails to meet expectations or shows signs of declining margins, it could lead to a negative reaction in the stock price.

Expectations

Two Questions That Matter

The print will turn on these two things.

What will the EPS be this quarter?

Given the company's strong history of beating EPS estimates, this figure will be crucial for investor sentiment.

How is the operating margin trending?

Investors will want to know if the company is managing costs effectively, especially in a fluctuating energy market.

Edge

What the Street Is Missing

Why consensus could be wrong

The Street may be underestimating Hess Midstream's ability to maintain margins despite market pressures, as historical data shows a strong EPS beat rate.

Supporting Evidence

Hess Midstream has an 88% EPS beat rate over the last eight quarters, indicating strong operational performance.

Options are pricing a 10.27% move, suggesting traders expect significant volatility, which may not align with the company's historical stability.

Key Risk

If operating margins show improvement, it could challenge the current bearish sentiment.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

The market is debating whether Hess Midstream can maintain its profitability in a competitive environment.

Bull Confirmed If

An EPS of $0.70 or higher would confirm the bull case and suggest strong operational efficiency.

Bear Confirmed If

An EPS below $0.65 would support the bear case and raise concerns about profitability.

Pre-Earnings Positioning

Options Market

Implied Move

±10.27%

Historical Avg

±2.1%

Pricing rich

The options market is pricing in a significant move, suggesting that traders expect volatility around the earnings report.

Options are pricing ±10.3% while HESM has averaged ±2.1% over the last 8 prints — setup is pricing rich.

Detail

ATM IV

0.3%

30d HV

28.7%

Calls (11K)P/C Ratio: 0.72Puts (9K)

Edge

Historical Setup Match

Cross-company pattern from 30 similar setups.

Prior-quarter beat + options rich in Energy

n=30

Fade rate: 6 of 30 (20%)

This setup has occurred 30 times across Energy in the last 2 years. 24 of 30 (80%) held or extended their move within 5 days — this setup typically holds direction. The average absolute 1-day move is 4.4%, with a raw directional average of -1.5% (modestly negative historical bias).

Preparation

Post-Print Playbook

Likely market behavior by outcome — not investment advice.

Beat & Raise

If Hess Midstream beats expectations, history suggests the stock could rise by around 0.87%, confirming the positive outlook.

In-Line / Cautious

If results are in line with expectations, the stock may see muted movement as investors await further guidance.

Miss

Should the company miss expectations, the stock could drop by approximately 1.41%, reflecting investor disappointment.

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Any updates on cost management strategies.
2Details on new contracts or partnerships that could drive revenue.
3Insights into market demand for oil and gas transportation.
4Management's outlook on future earnings growth.
5Responses to any regulatory changes impacting operations.

See the full picture

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Company Snapshot

Key Metrics to Watch

Earnings Per Share (EPS)

EPS is a key indicator of the company's profitability and financial health, which investors will closely monitor this quarter.

N/A

Revenue Growth

Revenue growth reflects the company's ability to expand its operations and capture market demand, a critical factor for investor confidence.

N/A

1 more metrics, Wall Street expectations, options signals, track record, and call prep available with Pro.

HESM Q2-2026 Earnings Preview

Context

Company Snapshot

Earnings Scorecard·Last 8Q

EPS Beat Streak

EPS Beat Rate

88%

Avg EPS Surprise

+8.13%

Avg Stock Reaction

+0.59%

Last Quarter Recap

In Q1-2026, Hess Midstream reported an EPS of $0.68, beating estimates by 4.13%. The stock reacted positively, gaining 3.67% the following day.

Management Promises & Guidance

Expectations

Wall Street Expectations

Investors are cautiously optimistic ahead of the earnings report, given the company's strong track record of beating EPS estimates.

Bull Case

If Hess Midstream continues its trend of exceeding EPS expectations, it could see significant stock appreciation, especially if revenue growth is also strong.

Bear Case

Conversely, if the company fails to meet expectations or shows signs of declining margins, it could lead to a negative reaction in the stock price.

Expectations

Two Questions That Matter

The print will turn on these two things.

What will the EPS be this quarter?

Given the company's strong history of beating EPS estimates, this figure will be crucial for investor sentiment.

How is the operating margin trending?

Investors will want to know if the company is managing costs effectively, especially in a fluctuating energy market.

Edge

What the Street Is Missing

Why consensus could be wrong

The Street may be underestimating Hess Midstream's ability to maintain margins despite market pressures, as historical data shows a strong EPS beat rate.

Supporting Evidence

Hess Midstream has an 88% EPS beat rate over the last eight quarters, indicating strong operational performance.

Options are pricing a 10.27% move, suggesting traders expect significant volatility, which may not align with the company's historical stability.

Key Risk

If operating margins show improvement, it could challenge the current bearish sentiment.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

The market is debating whether Hess Midstream can maintain its profitability in a competitive environment.

Bull Confirmed If

An EPS of $0.70 or higher would confirm the bull case and suggest strong operational efficiency.

Bear Confirmed If

An EPS below $0.65 would support the bear case and raise concerns about profitability.

Pre-Earnings Positioning

Options Market

Implied Move

±10.27%

Historical Avg

±2.1%

Pricing rich

The options market is pricing in a significant move, suggesting that traders expect volatility around the earnings report.

Options are pricing ±10.3% while HESM has averaged ±2.1% over the last 8 prints — setup is pricing rich.

Detail

ATM IV

0.3%

30d HV

28.7%

Calls (11K)P/C Ratio: 0.72Puts (9K)

Edge

Historical Setup Match

Cross-company pattern from 30 similar setups.

Prior-quarter beat + options rich in Energy

n=30

Fade rate: 6 of 30 (20%)

Preparation

Post-Print Playbook

Likely market behavior by outcome — not investment advice.

Beat & Raise

If Hess Midstream beats expectations, history suggests the stock could rise by around 0.87%, confirming the positive outlook.

In-Line / Cautious

If results are in line with expectations, the stock may see muted movement as investors await further guidance.

Miss

Should the company miss expectations, the stock could drop by approximately 1.41%, reflecting investor disappointment.

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Any updates on cost management strategies.
2Details on new contracts or partnerships that could drive revenue.
3Insights into market demand for oil and gas transportation.
4Management's outlook on future earnings growth.
5Responses to any regulatory changes impacting operations.