secwatch.observer — SEC 8-K summary
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Issuer:     Western Midstream Partners, LP (WES)
CIK:        0001423902
Form:       8-K
Filed at:   2025-11-04T23:59:59+00:00
Accession:  0001423902-25-000105
Event type: earnings
Sentiment:  positive
Materiality: 0.85
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1423902/000142390225000105/0001423902-25-000105-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1423902/000142390225000105/wes-20251104.htm
  HTML page:      https://secwatch.observer/filing/0001423902-25-000105

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