{"schema_version":"secwatch.filing_event.v1","accession":"0001423902-25-000030","form_type":"8-K","ticker":"WES","cik":"0001423902","company_name":"Western Midstream Partners, LP","filed_at":"2025-02-26T23:59:59+00:00","discovered_at":"2026-05-14T18:03:03.596023+00:00","generated_at":"2026-05-26T03:28:45.463148+00:00","sec_items":["2.02","7.01","9.01"],"event_type":"earnings","sentiment":"positive","materiality_score":0.8,"calibrated_materiality_score":0.8,"confidence":"high","headline":"WES beats 2024 Adj. EBITDA & FCF guidance; sanctions $400M+ Pathfinder pipeline; proposes 4% distribution hike","bullets":["Full-year 2024 Adj. EBITDA $2.344B, FCF $1.324B; both above guidance ranges (midpoint $2.3B, high end $1.25B).","Proposed Q1 2025 distribution $0.910/unit (+4% QoQ, +13% YoY); annualized $3.64; targets mid-single-digit annual growth.","Sanctioned Pathfinder produced-water pipeline; 30-in., 42-mi, >800 MBbls/d capacity; $400-450M cost; in-service by Jan 1, 2027.","2025 guidance: Adj. EBITDA $2.35-2.55B (midpoint +5% YoY); capex $625-775M; FCF $1.275-1.475B.","Full-year net income $1.537B ($4.02 diluted EPS); record throughput and double-digit YoY growth across all product lines."],"urls":{"canonical":"https://secwatch.observer/filing/0001423902-25-000030","json":"https://secwatch.observer/filing/0001423902-25-000030.json","markdown":"https://secwatch.observer/filing/0001423902-25-000030.md","text":"https://secwatch.observer/filing/0001423902-25-000030.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1423902/000142390225000030/0001423902-25-000030-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1423902/000142390225000030/wes-20250226.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-05-26T03:28:45.463148+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}