earnings
confidence high
sentiment positive
materiality 0.75
Western Midstream Q2 2022: record Adj. EBITDA $548.3M, net income $299.6M, unit buyback $425.4M YTD
Western Midstream Partners, LP
- Net income $299.6M ($0.74/diluted unit); record Adjusted EBITDA $548.3M; FCF $372.1M.
- Delaware Basin natural-gas throughput record 1.5 Bcf/d (+13% seq.); produced-water throughput record 864 MBbls/d (+15% seq.).
- Year-to-date repurchased 17.1M units for $425.4M; $1B buyback program 43% completed.
- Retired $502.2M senior notes due 2022; total notes repurchased since Jan 2020 > $1.65B.
- Q2 distribution $0.50/unit payable Aug 12, consistent with annualized $2.00/unit target.