Western Midstream Partners, LP (NYSE: WES) reported Q1 EPS of $0.75, $0.13 better than the analyst estimate of $0.62. Revenue for the quarter came in at $758.3 million versus the consensus estimate of $736.85 million.

GUIDANCE:

• Adjusted EBITDA(2) expected to range between $2.125 billion to $2.225 billion, representing a $200 million increase to the midpoint of guidance previously issued with WES’s fourth-quarter 2021 earnings results (“Prior Guidance”).
• Total capital expenditures(3) expected to range between $550 million to $600 million, representing a $150 million increase to Prior Guidance. Total year capital expenditures include capital attributable to a portion of Mentone Train III and additional well connect and expansion capital to support increased producer activity in the Delaware Basin.
• Free cash flow(2) expected to range between $1.25 billion to $1.35 billion, representing a $50 million increase to Prior Guidance.
• The distribution guidance of at least $2.00(4) per unit remains unchanged.

For earnings history and earnings-related data on Western Midstream Partners, LP (WES) click here.