Quarterly ResultMay 6, 2026, 04:22 PM
Western Midstream Q1 Revenue +22.5% to $1.12B; EPS $0.86
AI Summary
Western Midstream Partners, LP reported a strong first quarter for 2026, with total revenues increasing by 22.5% to $1.12 billion and net income per common unit rising to $0.86. The company also completed a significant $610 million unit redemption with Occidental, impacting its partners' capital. Operating expenses and capital expenditures saw notable increases, while net cash provided by operating activities decreased.
Key Highlights
- Total revenues and other increased 22.5% to $1.12 billion for Q1 2026 from $917.1 million in Q1 2025.
- Net income attributable to Western Midstream Partners, LP rose 13.4% to $350.3 million in Q1 2026 from $309.0 million in Q1 2025.
- Basic net income per common unit increased to $0.86 in Q1 2026 from $0.79 in Q1 2025.
- Completed a $610.0 million unit redemption with Occidental during Q1 2026.
- Net cash provided by operating activities was $469.9 million in Q1 2026, down from $530.8 million in Q1 2025.
- Capital expenditures increased to $235.7 million in Q1 2026 from $142.4 million in Q1 2025.
- Total operating expenses increased 26.7% to $662.8 million in Q1 2026 from $523.1 million in Q1 2025.