WES - NYSE
Western Midstream Partners, LP
$44.03
+1.8%Western Midstream Partners, LP, a midstream energy company, together with its subsidiaries, acquires, owns, develops, and operates primarily in the United States. It is involved in gathering, compressing, treating, processing, and transporting natural gas; gathering, stabilizing, and transporting condensate, natural gas liquids (NGLs), and crude oil; and gathering and disposing produced water. It also buys and sells natural gas, NGLs, and condensate. The company operates assets located in Texas, New Mexico, the Rocky Mountains, and North-central Pennsylvania. Western Midstream Holdings, LLC operates as the general partner of the company. The company was formerly known as Western Gas Equity Partners, LP and changed its name to Western Midstream Partners, LP in February 2019. Western Midstream Partners, LP was incorporated in 2007 and is based in The Woodlands, Texas.
At a Glance
Live SnapshotWestern Midstream Partners, LP Profit Bridge
Profitability Analysis
Gross Margin
Exceptional pricing power and cost management. The company retains over half of revenue after direct costs.
Operating Margin
Outstanding operational efficiency. The company generates substantial profit from core operations.
Net Profit Margin
Exceptional profitability. The company converts a significant portion of revenue to bottom-line earnings.
Effective Tax Rate
Below-average tax rate suggests effective tax planning, favorable jurisdictions, or tax credits.
Profitability Insight
Exceptional profitability across all levels: Strong pricing power, efficient operations, and healthy bottom line indicate a high-quality business with sustainable competitive advantages.
Western Midstream Partners, LP Income Statement
WES • NYSE
| Western Midstream Partners, LP Income Statement | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 | Dec 2019 | Dec 2018 | Dec 2017 | Dec 2016 | Dec 2015 | Dec 2014 | Dec 2013 | Dec 2012 | Dec 2011 | Dec 2010 | Dec 2009 | Dec 2008 | Dec 2007 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
REVENUE | |||||||||||||||||||
3.8B | 3.6B | 3.1B | 3.3B | 2.9B | 2.8B | 2.7B | 2B | 2.2B | 1.8B | 1.6B | 1.3B | 1.1B | 849.4M | 809.7M | 494.9M | 236.5M | 689.5M | 255.3M | |
GROSS PROFIT | |||||||||||||||||||
(1.2B) | (822.7M) | (765.3M) | (1B) | (873.9M) | (679.2M) | (927.5M) | (769.5M) | (1.2B) | (767.1M) | (772.6M) | (621.1M) | (510.2M) | (453.3M) | (327.4M) | (157M) | (51.1M) | (332.9M) | (112.3M) | |
2.6B | 2.8B | 2.3B | 2.2B | 2B | 2.1B | 1.8B | 1.2B | 1B | 1B | 788.8M | 652.7M | 543.3M | 396.1M | 482.3M | 337.8M | 185.4M | 356.6M | 143.1M | |
OPERATING INCOME | |||||||||||||||||||
(1B) | (811.8M) | (961.6M) | (660.6M) | (667M) | (1.2B) | (587.3M) | (521.5M) | (413.5M) | (397.4M) | (368.6M) | (262.2M) | (225.4M) | (248.6M) | (286.7M) | (194.6M) | (113.4M) | (199.9M) | (85.5M) | |
(398.9M) | (271.5M) | (232.6M) | (194M) | (195.5M) | (155.8M) | (114.6M) | (63.7M) | (50.7M) | (49.2M) | (41.2M) | (37.5M) | (33.5M) | (97.6M) | (39.1M) | (24.9M) | (20.1M) | (23.3M) | (8.4M) | |
1.6B | 2B | 1.4B | 1.6B | 1.3B | 878.9M | 1.2B | 625.4M | 704.4M | 704.5M | 34.4M | 448.3M | 317.9M | 147.5M | 209.2M | 151.6M | 80.6M | 166M | 63.7M | |
PRE-TAX INCOME | |||||||||||||||||||
(390.5M) | (365.2M) | (335.8M) | (321.7M) | (363.8M) | (380.1M) | (303.3M) | (183.8M) | (144.6M) | (116.6M) | (113.9M) | (76.8M) | (47.3M) | (42.1M) | (30.3M) | (18.8M) | (10M) | (364K) | (7.8M) | |
-390.5M | -365.2M | -335.8M | -321.7M | -363.8M | -368.3M | -286.4M | -166.9M | -127.7M | -99.7M | -97M | -59.9M | -34.9M | -25.2M | -6.2M | 3M | 10.8M | 11.8M | -7.8M | |
(646.7M) | (540.3M) | (729M) | (466.6M) | (471.4M) | (1.1B) | (472.7M) | -4.8M | (1.4M) | (545K) | -578K | (938K) | -165K | (392K) | (247.6M) | (169.7M) | (93.2M) | (176.6M) | (77.1M) | |
-358.1M | -341.4M | -327.2M | -332.2M | -402.1M | -356.1M | -410.2M | -171.7M | -223.6M | -99.2M | -97.6M | -162.1M | -33M | -62.2M | -6.3M | 911K | 12.4M | 12M | -7.8M | |
1.2B | 1.6B | 1.1B | 1.3B | 934.2M | 522.9M | 821.2M | 451.5M | 578.1M | 605.4M | -63.2M | 389.4M | 285M | 122.6M | 207.4M | 147.6M | 87.6M | 178M | 55.9M | |
NET INCOME | |||||||||||||||||||
(15.1M) | (18.1M) | (4.4M) | (4.2M) | -9.8M | (6M) | (13.5M) | (2.9M) | (4.9M) | (8.4M) | (3.4M) | (2M) | (2.6M) | (29.5M) | (45.7M) | (10.6M) | (12K) | (43.7M) | (19.4M) | |
1.2B | 1.6B | 1B | 1.2B | 916.3M | 527M | 697.2M | 369.4M | 376.6M | 345.8M | 87.9M | 221.9M | 160.2M | 2.8M | 75.6M | 126.1M | 77.3M | 126.3M | 36.6M |
SEC Filings
WES - Filing history and reports
| Filing Type | Filing Date | Period Ending | Fiscal Year | Actions |
|---|---|---|---|---|
10-Q 10-Q 2026 Q1 Q1 | May 06, 2026 | March 31, 2026 | 2026 | |
8-K 8-K 2026 N/A | May 06, 2026 | May 06, 2026 | 2026 | |
8-K 8-K 2026 N/A | February 18, 2026 | February 18, 2026 | 2026 | |
10-K 10-K 2025 FY FY | February 18, 2026 | December 31, 2025 | 2025 | |
8-K 8-K 2026 N/A | January 22, 2026 | January 16, 2026 | 2026 | |
8-K 8-K 2025 N/A | December 04, 2025 | December 01, 2025 | 2025 | |
8-K 8-K 2025 N/A | November 04, 2025 | November 04, 2025 | 2025 | |
10-Q 10-Q 2025 Q3 Q3 | November 04, 2025 | September 30, 2025 | 2025 | |
8-K 8-K 2025 N/A | October 15, 2025 | October 15, 2025 | 2025 | |
S-4/A S-4/A (Amended) N/A | September 10, 2025 | September 10, 2025 |
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