Western Midstream Q1 net income $559.5M, record EBITDA, distribution up 52%

Western Midstream Partners, LP

Net income attributable to LPs of $559.5M ($1.47/diluted unit); record Adjusted EBITDA $608.4M.
First-quarter Base Distribution $0.875/unit ($3.50 annualized), a 52% increase over prior quarter.
Free cash flow $225.0M; year-to-date repurchased $150M of senior notes at ~96% of par.
Closed five non-core asset sales for $794.8M; Mentone III started up in early April.
Raised 2024 throughput growth expectations; guiding to high-end of prior Adjusted EBITDA and FCF ranges.

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Western Midstream Partners, LP reported first-quarter 2024 results: net income $559.5 million, EPS $1.47 per common unit (diluted). Guidance raised.

Period: first-quarter 2024
Net income: $559.5 million
EPS: $1.47 per common unit (diluted)
Guidance: raised
Result: reported results

Exact text from the filing

Western Midstream Partners, LP issued a press release announcing first-quarter 2024 results.

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Source: SEC EDGAR

accession 0001423902-24-000036

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