secwatch.observer — SEC 8-K summary
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Issuer:     Western Midstream Partners, LP (WES)
CIK:        0001423902
Form:       8-K
Filed at:   2023-02-22T23:59:59+00:00
Accession:  0001423902-23-000022
Event type: earnings
Sentiment:  positive
Materiality: 0.80
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1423902/000142390223000022/0001423902-23-000022-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1423902/000142390223000022/wes-20230222.htm
  HTML page:      https://secwatch.observer/filing/0001423902-23-000022

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