The Filings Report

Western Midstream Partners, LP

WESNYSECIK 1423902Energy / Oil & Gas Midstreamfiscal year ends December57 quarters since 2012

Revenue, Q1 FY2026
$1.1B
+22.3% on Q1 FY2025
Net income
$350M
+13.4% on Q1 FY2025
Free cash flow
—
no year-earlier figure
Diluted EPS
—
not filed for a derived quarter
Revenue, TTM
$4.0B
trailing four quarters
Net margin, TTM
30.2%
net income $1.2B
Free cash flow, TTM
—
Cash and equivalents
$647M
long-term debt —, Mar 31, 2026
Shares, 12-month change
+3.3%
394M shares, Mar 31, 2026
Buybacks, TTM
—
no yield
Dividends, TTM
$1.5B
8.1% of market value
Market value
$18.3B
at the close, buybacks

Latest quarter Q1 FY2026, filed May 6, 2026. Trailing figures sum the latest four quarters. Market values at the latest close, from a market data vendor.

In Q1 FY2026, the quarter ended March 31, 2026, Western Midstream Partners, LP reported revenue of $1.1B, +22.3% on Q1 FY2025, and net income of $350M (+13.4%). Operating margin was 41.8%.

The last 16 quarters

Q2 FY2022 to Q1 FY2026, through the filing of May 6, 2026.

Revenue and net incomeRevenueNet income
$0$500M$1.0B$1.5BQ2'22, Revenue: $876MQ2'22, Net income: $306MQ2'22Q3'22, Revenue: $837MQ3'22, Net income: $266MQ3'22Q4'22, Revenue: $779MQ4'22, Net income: $336MQ4'22Q1'23, Revenue: $734MQ1'23, Net income: $204MQ1'23Q2'23, Revenue: $738MQ2'23, Net income: $253MQ2'23Q3'23, Revenue: $776MQ3'23, Net income: $277MQ3'23Q4'23, Revenue: $858MQ4'23, Net income: $288MQ4'23Q1'24, Revenue: $887MQ1'24, Net income: $573MQ1'24Q2'24, Revenue: $905MQ2'24, Net income: $379MQ2'24Q3'24, Revenue: $883MQ3'24, Net income: $288MQ3'24Q4'24, Revenue: $928MQ4'24, Net income: $334MQ4'24Q1'25, Revenue: $917MQ1'25, Net income: $309MQ1'25Q2'25, Revenue: $942MQ2'25, Net income: $342MQ2'25Q3'25, Revenue: $952MQ3'25, Net income: $340MQ3'25Q4'25, Revenue: $1.0BQ4'25, Net income: $191MQ4'25Q1'26, Revenue: $1.1BQ1'26, Net income: $350MQ1'26$0$500M$1.0B$1.5BQ2'22, Revenue: $876MQ2'22, Net income: $306MQ3'22, Revenue: $837MQ3'22, Net income: $266MQ3'22Q4'22, Revenue: $779MQ4'22, Net income: $336MQ1'23, Revenue: $734MQ1'23, Net income: $204MQ1'23Q2'23, Revenue: $738MQ2'23, Net income: $253MQ3'23, Revenue: $776MQ3'23, Net income: $277MQ3'23Q4'23, Revenue: $858MQ4'23, Net income: $288MQ1'24, Revenue: $887MQ1'24, Net income: $573MQ1'24Q2'24, Revenue: $905MQ2'24, Net income: $379MQ3'24, Revenue: $883MQ3'24, Net income: $288MQ3'24Q4'24, Revenue: $928MQ4'24, Net income: $334MQ1'25, Revenue: $917MQ1'25, Net income: $309MQ1'25Q2'25, Revenue: $942MQ2'25, Net income: $342MQ3'25, Revenue: $952MQ3'25, Net income: $340MQ3'25Q4'25, Revenue: $1.0BQ4'25, Net income: $191MQ1'26, Revenue: $1.1BQ1'26, Net income: $350MQ1'26

Net income losses drawn in red.

Cash and equivalents against long-term debtCash and equivalentsLong-term debt
$0$500M$1.0B$1.5BQ2'22, Cash and equivalents: $97MQ2'22Q3'22, Cash and equivalents: $159MQ3'22Q4'22, Cash and equivalents: $287MQ4'22Q1'23, Cash and equivalents: $113MQ1'23Q2'23, Cash and equivalents: $214MQ2'23Q3'23, Cash and equivalents: $489MQ3'23Q4'23, Cash and equivalents: $273MQ4'23Q1'24, Cash and equivalents: $295MQ1'24Q2'24, Cash and equivalents: $344MQ2'24Q3'24, Cash and equivalents: $1.1BQ3'24Q4'24, Cash and equivalents: $1.1BQ4'24Q1'25, Cash and equivalents: $448MQ1'25Q2'25, Cash and equivalents: $130MQ2'25Q3'25, Cash and equivalents: $177MQ3'25Q4'25, Cash and equivalents: $819MQ4'25Q1'26, Cash and equivalents: $647MQ1'26$0$500M$1.0B$1.5BQ2'22, Cash and equivalents: $97MQ3'22, Cash and equivalents: $159MQ3'22Q4'22, Cash and equivalents: $287MQ1'23, Cash and equivalents: $113MQ1'23Q2'23, Cash and equivalents: $214MQ3'23, Cash and equivalents: $489MQ3'23Q4'23, Cash and equivalents: $273MQ1'24, Cash and equivalents: $295MQ1'24Q2'24, Cash and equivalents: $344MQ3'24, Cash and equivalents: $1.1BQ3'24Q4'24, Cash and equivalents: $1.1BQ1'25, Cash and equivalents: $448MQ1'25Q2'25, Cash and equivalents: $130MQ3'25, Cash and equivalents: $177MQ3'25Q4'25, Cash and equivalents: $819MQ1'26, Cash and equivalents: $647MQ1'26

Positions at each quarter end, as filed; short-term investments are not included.

Income statement

Last eight quarters, newest first, through Q1 FY2026 filed May 6, 2026.

Western Midstream Partners, LP income statement, quarterly
Millions of dollarsQ1 FY2026ended Mar 31, 2026filed May 6, 2026Q4 FY2025ended Dec 31, 2025filed Feb 18, 2026Q3 FY2025ended Sep 30, 2025filed Nov 4, 2025Q2 FY2025ended Jun 30, 2025filed Aug 6, 2025Q1 FY2025ended Mar 31, 2025filed May 7, 2025Q4 FY2024ended Dec 31, 2024filed Feb 26, 2025Q3 FY2024ended Sep 30, 2024filed Nov 6, 2024Q2 FY2024ended Jun 30, 2024filed Aug 7, 2024YoYQ1 FY2026vs Q1 FY2025
Revenue1,1221,030952942917928883905+22.3%
Cost of revenue—————————
Gross profit—————————
Research and development—————————
Selling, general and administrative75202646667766563+12.5%
Operating income469306442444410426396470+14.5%
Other income (expense)7424716104−10.0%
Pretax income363204351353320342311388+13.3%
Income tax472230151+1.9%
Net income350191340342309334288379+13.4%
Diluted EPS ($)—————————
Diluted shares (millions)—————————

Fourth quarters are the fiscal year less the first nine months when the filer reports no discrete fourth quarter, and are marked. Diluted EPS is never derived, so a derived quarter shows none. Italic figures are derived.

Balance sheet

Last eight quarters, newest first, through Q1 FY2026 filed May 6, 2026.

Western Midstream Partners, LP balance sheet, quarterly
Millions of dollarsQ1 FY2026ended Mar 31, 2026filed May 6, 2026Q4 FY2025ended Dec 31, 2025filed Feb 18, 2026Q3 FY2025ended Sep 30, 2025filed Nov 4, 2025Q2 FY2025ended Jun 30, 2025filed Aug 6, 2025Q1 FY2025ended Mar 31, 2025filed May 7, 2025Q4 FY2024ended Dec 31, 2024filed Feb 26, 2025Q3 FY2024ended Sep 30, 2024filed Nov 6, 2024Q2 FY2024ended Jun 30, 2024filed Aug 7, 2024YoYQ1 FY2026vs Q1 FY2025
Cash and equivalents6478191771304481,0901,125344+44.4%
Short-term investments—————————
Total current assets1,5391,6579179051,1901,8471,8331,068+29.4%
Total assets14,92514,99812,12512,16012,45713,14512,98112,181+19.8%
Total current liabilities1,4071,2366406951,0111,6921,646634+39.2%
Long-term debt—————————
Total liabilities11,41810,8358,7978,8269,1239,7709,6048,756+25.1%
Stockholders’ equity—————————
Shares outstanding (millions)394394408381381381381380—

Positions at each period end. Nothing on this statement is derived. Long-term debt is the filed noncurrent line only; no total-debt composite is constructed across filers. Italic figures are derived.

Cash flow statement

Last eight quarters, newest first, through Q1 FY2026 filed May 6, 2026.

Western Midstream Partners, LP cash flow statement, quarterly
Millions of dollarsQ1 FY2026ended Mar 31, 2026filed May 6, 2026Q4 FY2025ended Dec 31, 2025filed Feb 18, 2026Q3 FY2025ended Sep 30, 2025filed Nov 4, 2025Q2 FY2025ended Jun 30, 2025filed Aug 6, 2025Q1 FY2025ended Mar 31, 2025filed May 7, 2025Q4 FY2024ended Dec 31, 2024filed Feb 26, 2025Q3 FY2024ended Sep 30, 2024filed Nov 6, 2024Q2 FY2024ended Jun 30, 2024filed Aug 7, 2024YoYQ1 FY2026vs Q1 FY2025
Operating cash flow470558570564531554551631−11.5%
Capital expenditures—————————
Free cash flow (CFO − capex)—————————
Depreciation and amortization200198170172170163166163+17.6%
Share repurchases—————000—
Dividends paid380380355355341341341341+11.3%

10-Qs file cash flows as year-to-date totals, so quarterly figures are differenced from consecutive filings and marked. Free cash flow is operating cash flow less capital expenditures, computed from the two filed lines. Italic figures are derived.

Annual statements

Every fiscal year filed, newest first, through FY2025 filed February 18, 2026.

Income statement

Western Midstream Partners, LP income statement, annual
Millions of dollarsFY2025ended Dec 31, 2025filed Feb 18, 2026FY2024ended Dec 31, 2024filed Feb 26, 2025FY2023ended Dec 31, 2023filed Feb 21, 2024FY2022ended Dec 31, 2022filed Feb 22, 2023FY2021ended Dec 31, 2021filed Feb 23, 2022FY2020ended Dec 31, 2020filed Feb 26, 2021FY2019ended Dec 31, 2019filed Feb 27, 2020FY2018ended Dec 31, 2018filed Feb 20, 2019FY2017ended Dec 31, 2017filed Feb 16, 2018FY2016ended Dec 31, 2016filed Feb 23, 2017FY2015ended Dec 31, 2015filed Feb 25, 2016FY2014ended Dec 31, 2014filed Feb 26, 2015FY2013ended Dec 31, 2013filed Feb 28, 2014FY2012ended Dec 31, 2012filed May 6, 2013FY2011ended Dec 31, 2011filed May 6, 2013
Revenue3,8423,6043,1063,2512,6972,5482,7452,3052,4301,8041,7521,5331,085894869
Cost of revenue———————432909494—————
Gross profit———————————————
Research and development———————————————
Selling, general and administrative39927223319419615611567544944423510041
Operating income1,6011,9711,3801,5881,3368791,231861802705154551324194245
Other income (expense)173262(1)1(124)(5)11(1)1200
Pretax income1,2281,6291,0521,25693452382169067760557493291169239
Income tax151844(10)61359(60)8463954959
Net income1,1811,5741,0221,2179165276975525413461662881646194
Diluted EPS ($)———————————————
Diluted shares (millions)———————————————

Balance sheet

Western Midstream Partners, LP balance sheet, annual
Millions of dollarsFY2025ended Dec 31, 2025filed Feb 18, 2026FY2024ended Dec 31, 2024filed Feb 26, 2025FY2023ended Dec 31, 2023filed Feb 21, 2024FY2022ended Dec 31, 2022filed Feb 22, 2023FY2021ended Dec 31, 2021filed Feb 23, 2022FY2020ended Dec 31, 2020filed Feb 26, 2021FY2019ended Dec 31, 2019filed Feb 27, 2020FY2018ended Dec 31, 2018filed Feb 20, 2019FY2017ended Dec 31, 2017filed Feb 16, 2018FY2016ended Dec 31, 2016filed Feb 23, 2017FY2015ended Dec 31, 2015filed Feb 25, 2016FY2014ended Dec 31, 2014filed Feb 26, 2015FY2013ended Dec 31, 2013filed Feb 28, 2014FY2012ended Dec 31, 2012filed May 6, 2013FY2011ended Dec 31, 2011filed May 6, 2013
Cash and equivalents8191,090273287202445100928035910067113423227
Short-term investments———————————————
Total current assets1,6571,847992900685943402345255596301187208478—
Total assets14,99813,14512,47211,27211,27311,83012,34611,4578,0167,7367,3036,9554,6313,751—
Total current liabilities1,2361,6921,3049041,140961486637424315236241191186—
Long-term debt——————7,9524,7873,4933,1192,6912,4231,4181,168669
Total liabilities10,8359,7709,4428,1648,1778,9359,0016,5654,0713,6253,3832,8211,7271,470—
Stockholders’ equity———————————————
Shares outstanding (millions)394381380385404413444219219219219219219——

Cash flow statement

Western Midstream Partners, LP cash flow statement, annual
Millions of dollarsFY2025ended Dec 31, 2025filed Feb 18, 2026FY2024ended Dec 31, 2024filed Feb 26, 2025FY2023ended Dec 31, 2023filed Feb 21, 2024FY2022ended Dec 31, 2022filed Feb 22, 2023FY2021ended Dec 31, 2021filed Feb 23, 2022FY2020ended Dec 31, 2020filed Feb 26, 2021FY2019ended Dec 31, 2019filed Feb 27, 2020FY2018ended Dec 31, 2018filed Feb 20, 2019FY2017ended Dec 31, 2017filed Feb 16, 2018FY2016ended Dec 31, 2016filed Feb 23, 2017FY2015ended Dec 31, 2015filed Feb 25, 2016FY2014ended Dec 31, 2014filed Feb 26, 2015FY2013ended Dec 31, 2013filed Feb 28, 2014FY2012ended Dec 31, 2012filed May 6, 2013FY2011ended Dec 31, 2011filed May 6, 2013
Operating cash flow2,2232,1371,6611,7011,7671,6371,3241,3481,043913783————
Capital expenditures————————————78——
Free cash flow (CFO − capex)———————————————
Depreciation and amortization711650601582552491483389319273273212150121113
Share repurchases001354882173300———————
Dividends paid1,4311,24697873653469696950244237430622813700

Insider activity

Form 4 filings by officers, directors and 10% owners, November 1, 2024 to November 1, 2026. Only open-market purchases and sales count as buys and sells; awards, exercises, tax withholding and gifts are listed in grey and never counted.

Bought, three months
$250K
1 purchases by 1 insider; officers and directors $250K
Sold, three months
$0
0 sales by 0 insiders; officers and directors $0
Bought, twelve months
$300K
2 purchases by 2 insiders; officers and directors $300K
Sold, twelve months
$249K
1 sales by 1 insider; officers and directors $249K

The last 25 transactions

TradedInsiderRoleTransactionSharesPriceValueHeld afterFiled
Oct 28, 2026Brown Oscar KPresident & CEO, Directoroption exercise52,659$0.00—138,099Oct 29, 2026
Oct 28, 2026Brown Oscar KPresident & CEO, Directortax withholding23,039$45.03$1M115,060Oct 29, 2026
Aug 12, 2026Forthuber Frederick A.Directoropen-market buy5,140$48.62$250K5,140Aug 12, 2026
Mar 11, 2026Phillips Robert GDirectoropen-market buy1,250$40.19$50K5,296Mar 12, 2026
Feb 12, 2026Dial Christopher B.SVP, GC and Secretarytax withholding5,879$42.35$249K225,015Feb 19, 2026
Feb 12, 2026Brown Oscar KPresident & CEO, Directoroption exercise24,022$0.00—95,950Feb 13, 2026
Feb 12, 2026Brown Oscar KPresident & CEO, Directortax withholding10,510$42.35$445K85,440Feb 13, 2026
Feb 12, 2026Schulte David JDirectoroption exercise3,843$0.00—40,072Feb 13, 2026
Feb 12, 2026Stewart Lisa ADirectoroption exercise3,843$0.00—39,772Feb 13, 2026
Feb 12, 2026Phillips Robert GDirectoroption exercise4,046$0.00—4,046Feb 13, 2026
Feb 12, 2026Dial Christopher B.SVP, GC and Secretarytax withholding9,962$42.35$422K206,435Feb 13, 2026
Feb 12, 2026Dial Christopher B.SVP, GC and Secretaryoption exercise30,704$0.00—237,139Feb 13, 2026
Feb 12, 2026Dial Christopher B.SVP, GC and Secretarytax withholding12,124$42.35$513K225,015Feb 13, 2026
Feb 12, 2026Dial Christopher B.SVP, GC and Secretaryoption exercise10,819$0.00—180,208Feb 13, 2026
Feb 12, 2026Dial Christopher B.SVP, GC and Secretaryoption exercise25,316$0.00—216,397Feb 13, 2026
Feb 12, 2026Dial Christopher B.SVP, GC and Secretaryoption exercise14,940$0.00—190,890Feb 13, 2026
Feb 12, 2026Dial Christopher B.SVP, GC and Secretaryopen-market sale5,879$42.35$249K185,011Feb 13, 2026
Feb 12, 2026Dial Christopher B.SVP, GC and Secretaryoption exercise10,009$0.00—195,020Feb 13, 2026
Feb 12, 2026Dial Christopher B.SVP, GC and Secretarytax withholding3,939$42.35$167K191,081Feb 13, 2026
Feb 12, 2026Dial Christopher B.SVP, GC and Secretarytax withholding4,258$42.35$180K175,950Feb 13, 2026
Feb 12, 2026Owen Kenneth F.Directoroption exercise3,843$0.00—41,772Feb 13, 2026
Feb 12, 2026Holderman Daniel P.SVP & Chief Operating Officeroption exercise10,009$0.00—61,379Feb 13, 2026
Feb 12, 2026Holderman Daniel P.SVP & Chief Operating Officertax withholding3,939$42.35$167K57,440Feb 13, 2026
Feb 12, 2026Holderman Daniel P.SVP & Chief Operating Officeroption exercise25,316$0.00—82,756Feb 13, 2026
Feb 12, 2026Holderman Daniel P.SVP & Chief Operating Officertax withholding9,962$42.35$422K72,794Feb 13, 2026

Full insider history for Western Midstream Partners, LP, or insider activity across all companies. A record of filings, not a recommendation.

Sources

Fiscal year ends in month 12; periods are labeled with the issuer's own fiscal calendar. Values are as most recently filed (restatements apply; per-share values are on current split basis per the connector's split table, flagged in adjusted). Flow items flagged in `derived` were computed (Q4 = FY − nine months; quarterly cash flow differenced from year-to-date filings) rather than read from a filing. `reconciliation.repaired` lists periods where a full-year figure was filed in a quarter slot: that row was dropped and the quarter rebuilt from the annual figure. `reconciliation.quarantined` lists periods where four filed quarters do not sum to the filed year — those quarterly values are withheld, so a blank there is a withholding rather than an absence of reporting.

Filer
Western Midstream Partners, LP, CIK 1423902 on EDGAR
Extract generated
November 1, 2026
Withheld
none
Repaired
none
XBRL concepts behind each line

Income statement

Revenue: RevenueFromContractWithCustomerExcludingAssessedTax, Revenues
Cost of revenue: CostOfGoodsAndServicesSold
Gross profit: not filed
Research and development: not filed
Selling, general and administrative: GeneralAndAdministrativeExpense
Operating income: OperatingIncomeLoss
Other income (expense): OtherNonoperatingIncomeExpense
Pretax income: IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
Income tax: IncomeTaxExpenseBenefit
Net income: NetIncomeLoss
Diluted EPS ($): not filed
Diluted shares (millions): not filed

Balance sheet

Cash and equivalents: CashAndCashEquivalentsAtCarryingValue
Short-term investments: not filed
Total current assets: AssetsCurrent
Total assets: Assets
Total current liabilities: LiabilitiesCurrent
Long-term debt: LongTermDebtNoncurrent
Total liabilities: Liabilities
Stockholders’ equity: not filed
Shares outstanding (millions): dei:EntityCommonStockSharesOutstanding

Cash flow statement

Operating cash flow: NetCashProvidedByUsedInOperatingActivities
Capital expenditures: PaymentsToAcquireProductiveAssets
Free cash flow (CFO − capex): not filed
Depreciation and amortization: DepreciationAndAmortization, DepreciationDepletionAndAmortization
Share repurchases: PaymentsForRepurchaseOfCommonStock
Dividends paid: PaymentsOfDividends

The data

The statements on this page as files, generated November 1, 2026.

JSON file
/data/financials/WES.json