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WES

Western Midstream·NYSE
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WES fundamentals

Western Midstream (WES) released its earnings on Feb 18, 2026: revenue was 1.03B (YoY +11.09%), beat estimates; EPS was 0.47 (YoY -44.71%), missed estimates.
Revenue / YoY
1.03B
+11.09%
EPS / YoY
0.47
-44.71%
Report date
Feb 18, 2026
WES Earnings Call Summary for Q4,2025
  • Record 2025 Performance: $2.48B adjusted EBITDA and $1.53B free cash flow, driven by Delaware and DJ Basin growth and $40M cost synergies from Aris integration.
  • 2026 Growth Outlook: 5% EBITDA growth (midpoint $2.6B) despite moderate throughput declines in DJ and PRB basins. Delaware Basin natural gas flat, crude/NGLs down low-single digits.
  • Waha Pricing Challenges: Curtailments expected through H1 2026, with new egress and commercial solutions to mitigate impact.
  • Water Business Expansion: Produced water throughput to grow >80% YoY in 2026, with rising interest in Pathfinder pipeline and beneficial reuse leadership.
  • Disciplined Capital Allocation: 2026 capex reduced to $925M midpoint, preserving flexibility for value-accretive opportunities.

Earnings

EPS
Revenue

Revenue & Expenses

WES has released its 2025 Q4 earnings report, with revenue of 1.03B, reflecting a YoY change of 11.09%, and net profit of 196.27M, showing a YoY change of -42.54%. The Sankey diagram below clearly presents WES's revenue sources and cost distribution.

Key Indicators

Western Midstream (WES) key financial stats and ratios, covering profitability, financial health, and leverage.

Income Statement

Western Midstream (WES)'s revenue and profit trends over recent years, visualized with a waterfall chart to showcase the revenue-to-profit funnel.
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Balance Sheet

Western Midstream (WES)'s asset and liability trends over recent years, visualized with a waterfall chart to illustrate changes in its asset-liability structure.
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Cash Flow

Western Midstream (WES)'s cash flow trends over recent years, visualized with a waterfall chart to illustrate changes in its operating, investing, and financing cash flows.
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Revenue Breakdown

Where does Western Midstream (WES) generate its revenue? Explore its key revenue streams and top earning regions.
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Dividend

Track Western Midstream (WES) Dividend Yield, Payout Ratio & Sustainability Through Its Dividend History
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Dividend Yield