Western Midstream Partners, LP (WES) Misses Q2 EPS by 3c, misses on revenue, updates guidance

Western Midstream Partners, LP (NYSE: WES) reported Q2 EPS of $0.64, $0.03 worse than the analyst estimate of $0.67. Revenue for the quarter came in at $738.27 million versus the consensus estimate of $797.36 million.

REVISED 2023 GUIDANCE

Based on the most current production forecast information from our producer customers, WES is providing revised 2023 guidance as follows:

Adjusted EBITDA(2) between $1.950 billion and $2.050 billion.
Total capital expenditures(3) between $700.0 million to $800.0 million, which is unchanged since our May 2023 North Loving Plant announcement.
Free cash flow(2) between $900.0 million and $1.000 billion, in line with the decrease in Adjusted EBITDA guidance.
Full-year 2023 Base Distribution of at least $2.1875 per unit(5), which is unchanged since our July 2023 Base Distribution increase announcement, excludes the impact of a potential Enhanced Distribution.

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

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