WES Q3 net income $331.7M; record Adj. EBITDA $633.8M; closes Aris deal

Western Midstream Partners, LP

Net income $331.7M ($0.87/diluted unit); record Adj. EBITDA $633.8M, second consecutive quarterly record.
Free Cash Flow $397.4M; distribution unchanged at $0.910/unit ($3.64 annualized).
Natural-gas throughput 5.4 Bcf/d (+2% seq.); crude-oil/NGLs 510 MBbls/d (-4% seq.); produced-water flat.
Closed Aris acquisition on Oct 15: issued 26.6M common units, $415M cash, assumed ~$500M debt.
Guidance: expects to be near high end of 2025 Adj. EBITDA ($2,350-2,550M) and above high end of FCF ($1,275-1,475M).

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