WES Q3 net income $250.2M ($0.61/unit), raises 2021 Adj. EBITDA guidance above $1.925B

Western Midstream Partners, LP

Q3 net income $250.2M ($0.61 per unit), Adjusted EBITDA $531.6M; Free cash flow $320M.
Raised 2021 Adjusted EBITDA guidance to exceed $1.925B high end; capex to be below $375M.
Tendered $500M of Senior notes due 2022-2026 for $521.9M, saving $20.6M/year in borrowing costs.
Repurchased 4.5M common units for $88.1M in Q3; $113M remaining under $250M buyback program.
Q3 distribution of $0.323/unit (1.3% increase QoQ); Debt-to-TTM Adj. EBITDA below 3.7x.

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