secwatch.observer — SEC 8-K summary
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Issuer:     Western Midstream Partners, LP (WES)
CIK:        0001423902
Form:       8-K
Filed at:   2023-08-08T23:59:59+00:00
Accession:  0001423902-23-000050
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

WES Q2 net income $247M; cuts 2023 Adj EBITDA guidance ~5% to $1.95-2.05B
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- Q2 net income $247.1M ($0.64/diluted unit); Adj EBITDA $488.3M, cash from ops $490.8M, FCF $340.1M.
- Base distribution raised 12.5% to $0.5625/unit quarterly ($2.25 annualized); payable Aug 14.
- Repurchased $117.6M of senior notes in Q2 at ~94% par; $159.1M post-Q2, totaling $276.7M.
- Revised 2023 Adj EBITDA guidance to $1.95-2.05B (5% cut at midpoint); FCF $900M-$1B; capex unchanged $700-800M.
- Record Delaware Basin nat-gas throughput 1.59 Bcf/d; secured investment-grade rating from Fitch (BBB-).

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1423902/000142390223000050/0001423902-23-000050-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1423902/000142390223000050/wes-20230808.htm
  HTML page:      https://secwatch.observer/filing/0001423902-23-000050

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