---
schema_version: "secwatch.filing_event.v1"
accession: "0001423902-23-000022"
form_type: "8-K"
ticker: "WES"
cik: "0001423902"
company_name: "Western Midstream Partners, LP"
filed_at: "2023-02-22T23:59:59+00:00"
generated_at: "2026-06-19T04:34:18.219393+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# Western Midstream reports record 2022 net income of $1.19B; recommends $140M Enhanced Distribution

## Summary
- Q4 2022 net income $328.6M ($0.85 diluted EPS); full-year net income $1.190B ($3.01 diluted EPS).
- Full-year Adjusted EBITDA $2.128B (within guidance); Free cash flow $1.268B (within guidance).
- Year-end net leverage ratio 3.1x, below 3.4x threshold; repurchased $487.6M in units in 2022.
- 2023 guidance: Adjusted EBITDA $2.05B-$2.15B; capex $575M-$675M; Base Distribution $2.00/unit annualized.
- Recommend 2022 Enhanced Distribution of $140M (~$0.36/unit), payable in May 2023 if approved.

## SEC filing metadata
- accession: 0001423902-23-000022
- form_type: 8-K
- ticker: WES
- cik: 0001423902
- company_name: Western Midstream Partners, LP
- filed_at: 2023-02-22T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1423902/000142390223000022/0001423902-23-000022-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1423902/000142390223000022/wes-20230222.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001423902-23-000022
- JSON: https://secwatch.observer/filing/0001423902-23-000022.json
- Plain text: https://secwatch.observer/filing/0001423902-23-000022.txt

## Key facts
- Earnings Releases
  Western Midstream Partners, LP reported full-year 2022 results: net income $1.190 billion, EPS $3.01 per common unit (diluted). Guidance initiated.
  - Period: full-year 2022
  - Net income: $1.190 billion
  - EPS: $3.01 per common unit (diluted)
  - Guidance: initiated
  - Result: reported results
  source text: Net income (loss) attributable to limited partners for full-year 2022 totaled $1.190 billion, or $3.01 per common unit (diluted)
  evidence_url: https://www.sec.gov/Archives/edgar/data/1423902/000142390223000022/0001423902-23-000022-index.htm
- Earnings Releases
  Western Midstream Partners, LP reported fourth-quarter 2022 results: net income $328.6 million, EPS $0.85 per common unit (diluted). Guidance initiated.
  - Period: fourth-quarter 2022
  - Net income: $328.6 million
  - EPS: $0.85 per common unit (diluted)
  - Guidance: initiated
  - Result: reported results
  source text: Net income (loss) attributable to limited partners for the fourth quarter of 2022 totaled $328.6 million, or $0.85 per common unit (diluted)
  evidence_url: https://www.sec.gov/Archives/edgar/data/1423902/000142390223000022/0001423902-23-000022-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.