Hess Midstream (HESM) Operating Expenses (2019 - 2026)
Hess Midstream (HESM) posted quarterly Operating Expenses of $85.6 million for Q1 2026, little changed year-over-year from $85.6 million in Q1 2025, and down 7.76% quarter-over-quarter from $92.8 million in Q4 2025.
Hess Midstream (HESM) Operating Expenses (2019 - 2026) Analysis & Trends
Hess Midstream's Operating Expenses history runs 8 years deep, the most recent figure standing at $85.6 million for Q1 2026.
- In Q1 2026, Operating Expenses changed 0.0% year-over-year to $85.6 million; the TTM figure through Mar 2026 stood at $434.5 million (down 32.08% YoY), while the FY2025 annual figure was $370.6 million, down 35.72% from the prior year.
- Operating Expenses for Q1 2026 stood at $85.6 million, down from $92.8 million in the prior quarter.
- The five-year high for Operating Expenses was $321.9 million in Q4 2024, with the low at $62.5 million in Q1 2023.
- The 5-year median for Operating Expenses is $89.0 million (2024), against an average of $108.6 million.
- The sharpest annual moves came in 2022 and 2024: Operating Expenses plunged 74.25% in 2022, then jumped 265.8% in 2024.
- Hess Midstream's Operating Expenses stood at $65.7 million in 2022, then jumped by 33.94% to $88.0 million in 2023, then surged by 265.8% to $321.9 million in 2024, then tumbled by 71.17% to $92.8 million in 2025, then decreased by 7.76% to $85.6 million in 2026.
- Business Quant data shows HESM's Operating Expenses at $85.6 million in Q1 2026, $92.8 million in Q4 2025, and $162.0 million in Q3 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Kinder Morgan | 112.69 Bn | 112.57 Bn | 3.07 Bn | 3.13 Bn |
| 2 | Enbridge | 111.13 Bn | 109.64 Bn | 5.23 Bn | 19.09 Bn |
| 3 | Enterprise Products Partners | 83.45 Bn | 82.54 Bn | - | 16.13 Bn |
| 4 | Energy Transfer | 72.53 Bn | 71.50 Bn | 7.40 Bn | 30.76 Bn |
| 5 | Tc Energy | 66.12 Bn | 58.56 Bn | 1.24 Bn | 851.61 Mn |
| 6 | Mplx | 60.19 Bn | 59.16 Bn | 2.73 Bn | 1.93 Bn |
| 7 | Oneok | 60.00 Bn | 59.84 Bn | 2.81 Bn | 4.00 Mn |
| 8 | Targa Resources | 59.13 Bn | 59.00 Bn | 2.14 Bn | 354.10 Mn |
| 9 | Cheniere Energy | 56.04 Bn | 54.79 Bn | 5.29 Bn | 1.44 Bn |
| 10 | Hess Midstream | 5.08 Bn | 5.07 Bn | - | 145.80 Mn |
Historic Data
Download Data| Date | Value |
|---|---|
| Jun 30, 2026 | 145.80 Mn |
| Mar 31, 2026 | 85.60 Mn |
| Dec 31, 2025 | 92.80 Mn |
| Sep 30, 2025 | 162.00 Mn |
| Jun 30, 2025 | 94.10 Mn |
| Mar 31, 2025 | 85.60 Mn |
| Dec 31, 2024 | 321.90 Mn |
| Sep 30, 2024 | 89.00 Mn |
| Jun 30, 2024 | 143.20 Mn |
| Mar 31, 2024 | 78.10 Mn |
| Dec 31, 2023 | 88.00 Mn |
| Sep 30, 2023 | 89.40 Mn |
| Jun 30, 2023 | 73.10 Mn |
| Mar 31, 2023 | 62.50 Mn |
| Dec 31, 2022 | 65.70 Mn |
| Sep 30, 2022 | 130.80 Mn |
| Jun 30, 2022 | 118.10 Mn |
| Mar 31, 2022 | 66.50 Mn |
| Dec 31, 2021 | 255.10 Mn |
| Sep 30, 2021 | 98.10 Mn |