Hess Midstream Partners Q4 Earnings Call Highlights

Costs and expenses (excluding depreciation and amortization, pass-through costs, and net of the company’s proportional share of LM4 earnings) decreased by about $7 million, driven by lower allocations under omnibus and employee secondment agreements and lower seasonal maintenance activity, partially offset by higher processing fees. Chadwick said the company’s gross adjusted EBITDA margin in the fourth quarter held at approximately 83%, above its 75% target, reflecting “continued strong operating leverage.” ...