Western Midstream Partners, LP (WES) Reports 1Q Revenues Beat
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Western Midstream Announces First-Quarter 2020 Results
May 5, 2020 4:10 PM EDTHOUSTON, May 5, 2020 /PRNewswire/ -- Today Western Midstream Partners, LP (NYSE: WES) ("WES" or the "Partnership") announced first-quarter 2020 financial and operating results. Net income (loss) available to limited partners for the first quarter of 2020 totaled $(251.4) million, or a loss of $0.57Â per common unit (diluted), with first-quarter 2020 Adjusted EBITDA(1) totaling $513.6 million, first-quarter Cash flows from operating activities totaling $393.3 million, and first-quarter 2020 Free cash flow(1) totaling $214.6 million. The net loss includes $596.8 million of non-cash impairments of goodwill and long-lived assets primarily resulting from lower sustained commodity prices and forecasted in-basin producer activity reductions following... More
