Western Midstream Partners, Lp ( (WES) ) has released its Q1 earnings. Here is a breakdown of the information Western Midstream Partners, Lp presented to its investors.
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Western Midstream Partners, LP is a master limited partnership engaged in the gathering, processing, and transportation of natural gas, as well as the stabilization and transportation of condensate, NGLs, and crude oil, primarily operating in Texas, New Mexico, and the Rocky Mountains. In its latest quarterly earnings report, Western Midstream Partners, LP reported total revenues of $917.1 million for the first quarter of 2025, reflecting a 3.3% increase from the same period in 2024. The company also noted a net income of $316.6 million, a decrease from the $586.2 million reported in the first quarter of 2024, which included a significant gain from divestitures. Key financial metrics for the quarter included a slight increase in service revenues, both fee-based and product-based, although product sales saw a decline. Operating expenses rose to $523.1 million, driven by higher operation and maintenance costs. The company also reported a decrease in equity income from related parties. Looking ahead, Western Midstream Partners, LP remains focused on optimizing its asset portfolio and maintaining financial discipline to support its growth strategy and shareholder returns.