$HESM
Hess Midstream LP

2021 Q1 Form 10-Q Financial Statement

#000156459021024987 Filed on May 06, 2021

View on sec.gov

Income Statement

Concept 2021 Q1 2020 Q1
Revenue $288.8M $290.8M
YoY Change -0.69% 53.38%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $66.10M $99.50M
YoY Change -33.57% 65.28%
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $40.20M $38.50M
YoY Change 4.42% 14.58%
% of Gross Profit
Operating Expenses $106.3M $138.0M
YoY Change -22.97% 47.12%
Operating Profit $182.5M $152.8M
YoY Change 19.44% 59.5%
Interest Expense -$23.10M -$24.80M
YoY Change -6.85% 65.33%
% of Operating Profit -12.66% -16.23%
Other Income/Expense, Net
YoY Change
Pretax Income $162.1M $130.7M
YoY Change 24.02% 61.76%
Income Tax $2.500M $1.700M
% Of Pretax Income 1.54% 1.3%
Net Earnings $8.600M $6.500M
YoY Change 32.31% -64.09%
Net Earnings / Revenue 2.98% 2.24%
Basic Earnings Per Share
Diluted Earnings Per Share $443.3K $361.1K
COMMON SHARES
Basic Shares Outstanding 17.96M
Diluted Shares Outstanding

Balance Sheet

Concept 2021 Q1 2020 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.500M $3.100M
YoY Change -51.61% -11.43%
Cash & Equivalents $1.500M $3.100M
Short-Term Investments
Other Short-Term Assets $4.200M $3.000M
YoY Change 40.0% -6.25%
Inventory
Prepaid Expenses
Receivables $108.1M $106.8M
Other Receivables $0.00 $300.0K
Total Short-Term Assets $113.8M $113.2M
YoY Change 0.53% 68.45%
LONG-TERM ASSETS
Property, Plant & Equipment $3.095B $3.029B
YoY Change 2.17% 11.08%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $103.6M $110.5M
YoY Change -6.24% 48.72%
Other Assets $9.400M $61.00M
YoY Change -84.59% 2441.67%
Total Long-Term Assets $3.275B $3.201B
YoY Change 2.3% 14.19%
TOTAL ASSETS
Total Short-Term Assets $113.8M $113.2M
Total Long-Term Assets $3.275B $3.201B
Total Assets $3.389B $3.315B
YoY Change 2.24% 15.46%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $38.90M $56.00M
YoY Change -30.54% 95.12%
Accrued Expenses $40.20M $84.30M
YoY Change -52.31% 152.4%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $12.50M $2.500M
YoY Change 400.0%
Total Short-Term Liabilities $94.30M $145.8M
YoY Change -35.32% 124.65%
LONG-TERM LIABILITIES
Long-Term Debt $1.886B $1.812B
YoY Change 4.09% 25787.14%
Other Long-Term Liabilities $23.00M $16.20M
YoY Change 41.98% 10.96%
Total Long-Term Liabilities $1.909B $1.828B
YoY Change 4.42% 8364.35%
TOTAL LIABILITIES
Total Short-Term Liabilities $94.30M $145.8M
Total Long-Term Liabilities $1.909B $1.828B
Total Liabilities $2.004B $3.184B
YoY Change -37.07% 35.12%
SHAREHOLDERS EQUITY
Retained Earnings
YoY Change
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $184.0M $130.7M
YoY Change
Total Liabilities & Shareholders Equity $3.389B $3.315B
YoY Change 2.24% 15.46%

Cashflow Statement

Concept 2021 Q1 2020 Q1
OPERATING ACTIVITIES
Net Income $8.600M $6.500M
YoY Change 32.31% -64.09%
Depreciation, Depletion And Amortization $40.20M $38.50M
YoY Change 4.42% 14.58%
Cash From Operating Activities $165.4M $140.2M
YoY Change 17.97% 37.72%
INVESTING ACTIVITIES
Capital Expenditures $26.70M $78.10M
YoY Change -65.81% 29.52%
Acquisitions
YoY Change
Other Investing Activities $0.00
YoY Change -100.0%
Cash From Investing Activities -$26.70M -$78.10M
YoY Change -65.81% -65.35%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -139.8M -62.30M
YoY Change 124.4% -408.42%
NET CHANGE
Cash From Operating Activities 165.4M 140.2M
Cash From Investing Activities -26.70M -78.10M
Cash From Financing Activities -139.8M -62.30M
Net Change In Cash -1.100M -200.0K
YoY Change 450.0% -99.81%
FREE CASH FLOW
Cash From Operating Activities $165.4M $140.2M
Capital Expenditures $26.70M $78.10M
Free Cash Flow $138.7M $62.10M
YoY Change 123.35% 49.64%

Facts In Submission

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CY2020Q4 us-gaap Loss Contingency Accrual Carrying Value Current
LossContingencyAccrualCarryingValueCurrent
0
CY2021Q1 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
3
CY2021Q1 us-gaap Revenues
Revenues
288800000
CY2021Q1 us-gaap Profit Loss
ProfitLoss
159600000
CY2021Q1 us-gaap Net Income Loss
NetIncomeLoss
8600000
CY2021Q1 us-gaap Depreciation
Depreciation
40200000
CY2021Q1 hesm Proportional Share Of Equity Affiliates Depreciation
ProportionalShareOfEquityAffiliatesDepreciation
1300000
CY2021Q1 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
2700000
CY2021Q1 us-gaap Interest Income Expense Nonoperating Net
InterestIncomeExpenseNonoperatingNet
-23100000
CY2021Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
2500000
CY2021Q1 hesm Income Loss From Continuing Operations Before Interest Income Taxes Depreciation And Amortization
IncomeLossFromContinuingOperationsBeforeInterestIncomeTaxesDepreciationAndAmortization
226700000
CY2021Q1 us-gaap Property Plant And Equipment Gross Period Increase Decrease
PropertyPlantAndEquipmentGrossPeriodIncreaseDecrease
23100000
CY2020Q1 us-gaap Revenues
Revenues
290800000
CY2020Q1 us-gaap Profit Loss
ProfitLoss
129000000.0
CY2020Q1 us-gaap Net Income Loss
NetIncomeLoss
6500000
CY2020Q1 us-gaap Depreciation
Depreciation
38500000
CY2020Q1 hesm Proportional Share Of Equity Affiliates Depreciation
ProportionalShareOfEquityAffiliatesDepreciation
1300000
CY2020Q1 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
2700000
CY2020Q1 us-gaap Interest Income Expense Nonoperating Net
InterestIncomeExpenseNonoperatingNet
-24800000
CY2020Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
1700000
CY2020Q1 hesm Income Loss From Continuing Operations Before Interest Income Taxes Depreciation And Amortization
IncomeLossFromContinuingOperationsBeforeInterestIncomeTaxesDepreciationAndAmortization
195300000
CY2020Q1 us-gaap Property Plant And Equipment Gross Period Increase Decrease
PropertyPlantAndEquipmentGrossPeriodIncreaseDecrease
57000000.0
CY2021Q1 us-gaap Assets
Assets
3388600000
CY2020Q4 us-gaap Assets
Assets
3374500000

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