secwatch.observer — SEC 8-K summary
======================================

Issuer:     Western Midstream Partners, LP (WES)
CIK:        0001423902
Form:       8-K
Filed at:   2021-11-09T23:59:59+00:00
Accession:  0001423902-21-000043
Event type: earnings
Sentiment:  positive
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1423902/000142390221000043/0001423902-21-000043-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1423902/000142390221000043/wes-20211109.htm
  HTML page:      https://secwatch.observer/filing/0001423902-21-000043

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer