financial good capital process our XXXX on to and through nomination and incremental Hess And our XXXX guidance from continued completed our return an of everyone. outlook with recently will prioritization our provide shareholders. of summarize XXXX, I discuss details Thank including ongoing highlights you. afternoon, Today,
prior with For XXXX, net EBITDA to full an results, compared $XXX of and year. adjusted million, we of income year increase million delivered strong $XXX X% the
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this consistent capital plan and of ongoing financial objective. we a continue strategy return forward, to that primary as includes Looking
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results. Turning to our
in relative in by from million revenue the Total EBITDA the export weather quarter revenue revenues EBITDA decrease approximately third was million million, revenue throughput offset million, to extreme $XX to John higher quarter a in revenues, excluding change decreased fees, for $XXX fourth driven segment $XX $XXX third approximately million, decrease resulting of the the Adjusted for $X million. million, and to The compared volumes primarily lower winter income decrease approximately quarter, gathering following. Gatling primarily by as follows. as For MVC approximately was by of processing third million A adjusted $XXX partially quarter. a $X passthrough shortfall was described, fourth quarter. attributable for compared of in the changes in revenue $XXX net to
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Turning to our annual nomination process.
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target EBITDA to a in approximately XXXX. continue adjusted We gross of margin XX%
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balance facility We the yearend our also $XX expect revolving of credit to on million XXXX XXXX. in repay
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midpoint quarter to range approximately maintenance distribution be $XXX of distributable X.Xx. are interest million finance approximately in delivering and coverage amortization costs approximately First excluding expected million million, deferred of expected cash of resulting $XX $XXX to the expenditures of capital the at flow net
second across the systems, remainder of adjusted water we quarters operating the with expect volumes seasonally and and increasing higher growing in XXXX, costs the with oil, year. of gas For third consistent EBITDA
beyond clear our we adjusted that EBITDA and visibility growth to cash have XXXX, financial Looking adjusted supports flow strategy. free volume,
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Our strength, target focus includes a metrics long-term growth Xx financial in strategy supported EBITDA. by with the financial our of adjusted continued leverage significant financial on a
returns return are of prioritize In capital with shareholder to continuing addition, we framework. our
our a First, we're distribution growth distribution with grow XXXX by to per coverage X% targeted annual distribution least basis continuing at share extending of of our base through X.Xx. annually on
returns annually Second, annual we at adjusted targeted growth of adjusted expected in significant excess incremental have flow beyond distribution, growth financial flexibility our free X%. with growing shareholder least XX% for potential distribution cash of EBITDA, base our of and
excess We adjusted expect Xx adjusted leverage adjusted EBITDA XXXX, target. our expected EBITDA of And providing decline to below to long end capacity generate cash leverage our to leverage beyond relative free flow term is by X.Xx distributions. the to
of and turn of the includes flexibility that have through remarks. leverage prioritization to capacity, questions. and strong We'll unit with XXXX financial to we for a the our As a look we operational to basis. strategy, and call concludes happy greater our ongoing over expect financial In repurchases $X differentiated capital now financial an any This billion capital that and on forward than of to answer shareholders. be visible our on trajectory pleased a result, summary, growth consistent a delivered return and allocation, are operator. I'll to underpin to a in XXXX ongoing metrics my have balance, cash growing focus unique with significant
