Western Midstream Partners, LP — Form 8-K
Filed November 4, 2026 · analyzed by the 8-K Agent
8-K
▲ Likely positive
significance 52/100
What the filing says
Western Midstream reported Q3 2026 net income of $324.8 million ($0.78 per diluted unit) with Adjusted EBITDA of $708.3 million (12% YoY increase) and Distributable Cash Flow of $512.3 million. The company reaffirmed full-year 2026 guidance: Adjusted EBITDA $2.75–$2.95 billion, DCF $2.05–$2.25 billion, Free Cash Flow $1.1–$1.3 billion, and now expects capex slightly above the $850M–$1.0B range. Key drivers: record natural-gas throughput of 5.9 Bcf/d (8% sequential increase), Delaware Basin throughput of 2.6 Bcf/d (20% increase from June Brazos Delaware II acquisition), and ongoing Solitude Pipeline 7.5% investment ($2.25 Bcf/d capacity in late 2029). Quarterly distribution held steady at $0.93/unit ($3.72 annualized).
Why this rating
Q3 results track guidance; modest 12% EBITDA growth YoY offset by lower crude/NGL pricing. Brazos acquisition accretive but capex now above range. Positive throughput momentum and 2027 outlook, but mixed near-term drivers.
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