{"schema_version":"secwatch.filing_event.v1","accession":"0001423902-22-000006","form_type":"8-K","ticker":"WES","cik":"0001423902","company_name":"Western Midstream Partners, LP","filed_at":"2022-02-23T23:59:59+00:00","discovered_at":"2026-05-14T18:04:06.418495+00:00","generated_at":"2026-06-27T05:24:53.534981+00:00","sec_items":["2.02","9.01"],"event_type":"earnings","sentiment":"positive","materiality_score":0.85,"calibrated_materiality_score":0.85,"confidence":"high","headline":"Western Midstream FY2021 Adj. EBITDA $1.947B beats guidance; 53% distribution increase, $1B buyback announced","bullets":["Full-year 2021 Adj. EBITDA $1.947B beat guidance high-end of $1.925B; net income $896.5M ($2.18 diluted EPS).","Q4 Adj. EBITDA $480.9M (incl. $26.2M unfavorable non-cash adjustment); Free cash flow $576.5M.","2022 guidance: Adj. EBITDA $1.925-$2.025B, capex $375-$475M, distribution at least $2.00/unit annually.","Expects ~53% distribution increase effective Q1 2022; new $1.0B unit repurchase program through 2024; annual enhanced distribution framework from 2023 contingent on leverage targets.","Year-end leverage ratio ~3.6x (net 3.5x); S&P upgraded to BBB- (investment grade); Q4 repurchased 5.6M units for $113.1M."],"urls":{"canonical":"https://secwatch.observer/filing/0001423902-22-000006","json":"https://secwatch.observer/filing/0001423902-22-000006.json","markdown":"https://secwatch.observer/filing/0001423902-22-000006.md","text":"https://secwatch.observer/filing/0001423902-22-000006.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1423902/000142390222000006/0001423902-22-000006-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1423902/000142390222000006/wes-20220223.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-27T05:24:53.534981+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}