Hess Midstream (HESM) Operating Expenses (2019 - 2026)
Hess Midstream (HESM) posted Operating Expenses of $145.8 million for Q2 2026, down 4.08% on a QoQ basis from $152.0 million in Q1 2026, and down 5.32% year-over-year from $154.0 million in Q2 2025.
Analysis
Hess Midstream (HESM) Operating Expenses (2019 - 2026) Analysis & Trends
Hess Midstream has reported Operating Expenses for 8 years, with the latest figure at $145.8 million in Q2 2026.
- On a quarterly basis, Operating Expenses fell 5.32% year-over-year to $145.8 million in Q2 2026; TTM through Jun 2026 was $612.4 million, a 2.36% increase from a year earlier, with the FY2025 full-year figure at $613.2 million, up 6.37% from the prior year.
- Operating Expenses was $145.8 million for Q2 2026 at Hess Midstream, down from $152.0 million in the prior quarter.
- The five-year high for Operating Expenses was $162.0 million in Q3 2025, with the low at $116.3 million in Q1 2023.
- Average Operating Expenses over 5 years is $139.1 million, with a median of $143.9 million recorded in 2024.
- The sharpest annual moves came in 2022 and 2023: Operating Expenses retreated 9.61% in 2022, then increased 23.86% in 2023.
- Over 5 years, Operating Expenses stood at $118.2 million in 2022, then gained by 23.86% to $146.4 million in 2023, then advanced by 4.44% to $152.9 million in 2024, then decreased by 0.2% to $152.6 million in 2025, then dropped by 4.46% to $145.8 million in 2026.
- The last three Operating Expenses figures came in at $145.8 million (Q2 2026), $152.0 million (Q1 2026), and $152.6 million (Q4 2025), per Business Quant data.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Kinder Morgan | 111.69 Bn | 112.81 Bn | 3.07 Bn | 3.13 Bn |
| 2 | Enterprise Products Partners | 84.07 Bn | 83.21 Bn | - | 16.13 Bn |
| 3 | Energy Transfer | 74.03 Bn | 73.00 Bn | 7.40 Bn | 30.76 Bn |
| 4 | Tc Energy | 65.16 Bn | 64.62 Bn | 1.80 Bn | - |
| 5 | Targa Resources | 62.18 Bn | 62.19 Bn | 2.14 Bn | 354.10 Mn |
| 6 | Mplx | 60.51 Bn | 59.48 Bn | 2.73 Bn | 1.93 Bn |
| 7 | Oneok | 60.16 Bn | 60.09 Bn | 2.81 Bn | 4.00 Mn |
| 8 | Enbridge | 54.38 Bn | 54.88 Bn | 5.23 Bn | 19.09 Bn |
| 9 | Pembina Pipeline | 28.12 Bn | 27.76 Bn | 933.00 Mn | 132.00 Mn |
| 10 | Hess Midstream | 5.12 Bn | 5.12 Bn | - | 145.80 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 145.80 Mn |
| Mar 31, 2026 | 152.00 Mn |
| Dec 31, 2025 | 152.60 Mn |
| Sep 30, 2025 | 162.00 Mn |
| Jun 30, 2025 | 154.00 Mn |
| Mar 31, 2025 | 144.60 Mn |
| Dec 31, 2024 | 152.90 Mn |
| Sep 30, 2024 | 146.80 Mn |
| Jun 30, 2024 | 143.20 Mn |
| Mar 31, 2024 | 133.60 Mn |
| Dec 31, 2023 | 146.40 Mn |
| Sep 30, 2023 | 143.10 Mn |
| Jun 30, 2023 | 125.90 Mn |
| Mar 31, 2023 | 116.30 Mn |
| Dec 31, 2022 | 118.20 Mn |
| Sep 30, 2022 | 130.80 Mn |
| Jun 30, 2022 | 118.10 Mn |
| Mar 31, 2022 | 116.90 Mn |
| Dec 31, 2021 | 116.40 Mn |
| Sep 30, 2021 | 144.70 Mn |