secwatch.observer — SEC 8-K summary
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Issuer:     Western Midstream Partners, LP (WES)
CIK:        0001423902
Form:       8-K
Filed at:   2024-02-21T23:59:59+00:00
Accession:  0001423902-24-000021
Event type: other_material
Sentiment:  positive
Materiality: 0.85
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

WES Q4 earnings beat; sells non-core assets for $790M, plans 52% distribution increase
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- 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%).

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1423902/000142390224000021/0001423902-24-000021-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1423902/000142390224000021/wes-20240221.htm
  HTML page:      https://secwatch.observer/filing/0001423902-24-000021

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer