Hess Midstream LP (HESM) Financial Statements (2024 and earlier)
Company Profile
| Business Address |
1501 MCKINNEY STREET HOUSTON, TX 77010 |
| State of Incorp. | DE |
| Fiscal Year End | December 31 |
| Industry (SIC) | 1311 - Crude Petroleum and Natural Gas (benchmarking) |
| More info | Complete Financial Analysis Financial Benchmarking |
Balance Sheet (Statement of Financial Position) ($ in thousands)
| 6/30/2024 MRQ | 12/31/2023 | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | |||
|---|---|---|---|---|---|---|---|---|
| ASSETS | ||||||||
| Current Assets | ||||||||
| Cash, cash equivalents, and short-term investments | 5,400 | 3,100 | 2,200 | 2,600 | 3,300 | |||
| Cash and cash equivalents | 5,400 | 3,100 | 2,200 | 2,600 | 3,300 | |||
| Receivables | 122,500 | 123,000 | 120,300 | 93,200 | 87,600 | |||
| Other current assets | 7,000 | 6,200 | 10,600 | 5,600 | 4,700 | |||
| Other undisclosed current assets | 1,900 | 300 | ||||||
| Total current assets: | 136,800 | 132,300 | 133,100 | 101,400 | 95,900 | |||
| Noncurrent Assets | ||||||||
| Operating lease, right-of-use asset | 800 | |||||||
| Property, plant and equipment | 3,229,200 | 3,172,800 | 3,125,000 | 3,111,300 | 3,010,100 | |||
| Long-term investments and receivables | 90,500 | 94,600 | 102,400 | 109,300 | 109,000 | |||
| Long-term investments | 90,500 | 94,600 | 102,400 | 109,300 | 109,000 | |||
| Deferred income tax assets | 324,400 | 177,200 | 117,300 | 42,500 | ||||
| Other noncurrent assets | 8,600 | 11,300 | 7,800 | 10,000 | 12,900 | |||
| Other undisclosed noncurrent assets | 49,000 | |||||||
| Total noncurrent assets: | 3,652,700 | 3,455,900 | 3,352,500 | 3,273,100 | 3,181,800 | |||
| TOTAL ASSETS: | 3,789,500 | 3,588,200 | 3,485,600 | 3,374,500 | 3,277,700 | |||
| LIABILITIES AND EQUITY | ||||||||
| Liabilities | ||||||||
| Current Liabilities | ||||||||
| Accounts payable and accrued liabilities | 147,100 | 117,900 | 103,100 | 84,100 | 119,300 | |||
| Accounts payable | 41,200 | 35,000 | 26,900 | 30,000 | 30,600 | |||
| Accrued liabilities | 105,900 | 82,900 | 76,200 | 54,100 | 88,700 | |||
| Debt | 12,500 | 2,500 | 20,000 | 10,000 | ||||
| Accrued environmental loss contingencies | 1,700 | |||||||
| Other liabilities | 12,100 | 11,400 | 10,200 | 9,900 | 8,900 | |||
| Due to related parties | ✕ | ✕ | 27,700 | 37,600 | 21,000 | 47,900 | ||
| Other undisclosed current liabilities | 36,800 | |||||||
| Total current liabilities: | 210,200 | 159,500 | 170,900 | 125,000 | 176,100 | |||
| Noncurrent Liabilities | ||||||||
| Long-term debt and lease obligation | 3,198,900 | 2,883,100 | 2,543,500 | 1,900,100 | 1,753,500 | |||
| Long-term debt, excluding current maturities | 3,198,900 | 2,883,100 | 2,543,500 | 1,900,100 | 1,753,500 | |||
| Liabilities, other than long-term debt | 17,200 | 16,600 | 18,100 | 23,400 | 16,000 | |||
| Deferred income tax liabilities | 500 | 500 | 400 | |||||
| Accrued environmental loss contingencies | ||||||||
| Other liabilities | 16,700 | 16,100 | 17,700 | 23,400 | 16,000 | |||
| Other undisclosed noncurrent liabilities | ||||||||
| Total noncurrent liabilities: | 3,216,100 | 2,899,700 | 2,561,600 | 1,923,500 | 1,769,500 | |||
| Total liabilities: | 3,426,300 | 3,059,200 | 2,732,500 | 2,048,500 | 1,945,600 | |||
| Equity | ||||||||
| Equity, attributable to parent | 400 | |||||||
| Accumulated other comprehensive income | 400 | |||||||
| Other undisclosed equity | 363,200 | 529,000 | 753,100 | 1,326,000 | 1,331,700 | |||
| Total equity: | 363,200 | 529,000 | 753,100 | 1,326,000 | 1,332,100 | |||
| TOTAL LIABILITIES AND EQUITY: | 3,789,500 | 3,588,200 | 3,485,600 | 3,374,500 | 3,277,700 | |||
Income Statement (P&L) ($ in thousands)
| 6/30/2024 TTM | 12/31/2023 | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | ||
|---|---|---|---|---|---|---|---|
| Revenues | 1,348,600 | 1,275,200 | 1,203,800 | 1,091,900 | 848,300 | ||
| Cost of revenue | (192,500) | (181,300) | (165,600) | (157,000) | (142,500) | ||
| Gross profit: | 1,156,100 | 1,093,900 | 1,038,200 | 934,900 | 705,800 | ||
| Operating expenses | (339,200) | (302,700) | (311,000) | (358,400) | (329,200) | ||
| Operating income: | 816,900 | 791,200 | 727,200 | 576,500 | 376,600 | ||
| Interest and debt expense | (6,500) | (5,100) | |||||
| Income from continuing operations before equity method investments, income taxes: | 816,900 | 791,200 | 727,200 | 570,000 | 371,500 | ||
| Income from equity method investments | 7,700 | 5,300 | 10,600 | 10,300 | 3,400 | ||
| Other undisclosed loss from continuing operations before income taxes | (179,000) | (149,300) | (105,400) | (88,100) | (57,300) | ||
| Income from continuing operations before income taxes: | 645,600 | 647,200 | 632,400 | 492,200 | 317,600 | ||
| Income tax expense (benefit) | (37,900) | (26,600) | (14,600) | (7,300) | 100 | ||
| Income from continuing operations: | 607,700 | 620,600 | 617,800 | 484,900 | 317,700 | ||
| Income before gain (loss) on sale of properties: | ✕ | ✕ | ✕ | 617,800 | 484,900 | 317,700 | |
| Net income: | 607,700 | 620,600 | 617,800 | 484,900 | 317,700 | ||
| Net loss attributable to noncontrolling interest | (489,100) | (536,700) | (571,400) | (460,900) | (302,600) | ||
| Other undisclosed net income attributable to parent | 55,000 | ||||||
| Net income available to common stockholders, diluted: | 118,600 | 83,900 | 46,400 | 24,000 | 70,100 | ||
Comprehensive Income ($ in thousands)
| 6/30/2024 TTM | 12/31/2023 | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | ||
|---|---|---|---|---|---|---|---|
| Net income: | 607,700 | 620,600 | 617,800 | 484,900 | 317,700 | ||
| Other comprehensive loss | (400) | (800) | |||||
| Comprehensive income: | 607,700 | 620,600 | 617,800 | 484,500 | 316,900 | ||
| Comprehensive loss, net of tax, attributable to noncontrolling interest | (489,100) | (536,700) | (571,400) | (460,500) | (302,600) | ||
| Other undisclosed comprehensive income, net of tax, attributable to parent | 55,600 | ||||||
| Comprehensive income, net of tax, attributable to parent: | 118,600 | 83,900 | 46,400 | 24,000 | 69,900 | ||
Statements Sources
The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.