8-K
filed February 21, 2024, 6:59 PM ET
ticker WES
CIK 0001423902
other material
confidence high
sentiment positive
materiality 0.85
WES Q4 earnings beat; sells non-core assets for $790M, plans 52% distribution increase
Western Midstream Partners, LP
- Q4 net income $281.6M ($0.74/unit); FY net income $998.5M; adj EBITDA $2.069B exceeded guidance.
- Sold non-core assets for $790M (9.6x 2023 EBITDA); some closed Feb 16, rest Q1/Q2 2024.
- 2024 guidance: adj EBITDA $2.200-2.400B, capex $700-850M, FCF $1.050-1.250B.
- Plans to recommend 52% base distribution increase to $0.875/unit quarterly ($3.50 annualized), at least $3.20/unit in 2024.
- Record annual throughput: nat gas 4.4 Bcf/d (+5%), crude/NGLs 652 MBbls/d (+7%), water 1,009 MBbls/d (+21%).
Key facts
Extracted from this filing and checked against the source text.
Earnings Releases
SEC 8-K Item 2.02
confidence 0.9
Western Midstream Partners, LP reported full-year 2023 results: net income $998.5 million, EPS $2.60 per common unit (diluted).
- Period
- full-year 2023
- Net income
- $998.5 million
- EPS
- $2.60 per common unit (diluted)
- Result
- reported results
Exact text from the filing
Net income (loss) attributable to limited partners for full-year 2023 totaled $998.5 million, or $2.60 per common unit (diluted)
View on SEC.gov
Earnings Releases
SEC 8-K Item 2.02
confidence 0.9
Western Midstream Partners, LP reported fourth-quarter 2023 results: net income $281.6 million, EPS $0.74 per common unit (diluted).
- Period
- fourth-quarter 2023
- Net income
- $281.6 million
- EPS
- $0.74 per common unit (diluted)
- Result
- reported results
Exact text from the filing
Net income (loss) attributable to limited partners for the fourth quarter of 2023 totaled $281.6 million, or $0.74 per common unit (diluted)
View on SEC.gov
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