Western Midstream Partners, LP
For the period ended Aug 5, 2026. Filed Aug 5, 2026.
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Aug 5, 2026 · Filed Aug 5, 2026
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WES$39.850.0%Stored close · as of Nov 6, 2026
Contents
EX-99.1 · Adjusted EBITDA
Adjusted EBITDA
| Three Months Ended | ||
|---|---|---|
| thousands | June 30,2026 | March 31,2026 |
| Reconciliation of Net income (loss) to Adjusted EBITDA | ||
| Net income (loss) | $415,251 | $359,032 |
| Add: | ||
| Distributions from equity investments | 24,630 | 25,652 |
| Non-cash equity-based compensation expense | 13,507 | 10,854 |
| Interest expense | 108,984 | 113,390 |
| Income tax expense | 5,152 | 3,501 |
| Depreciation and amortization | 205,945 | 200,426 |
| Long-lived asset and other impairments | 551 | 608 |
| Other expense | 329 | — |
| Less: | ||
| Gain (loss) on divestiture and other, net | (4,598) | (6,367) |
| Gain (loss) on early extinguishment of debt | (150) | — |
| Equity income, net – related parties | 21,536 | 14,776 |
| Other income | 2,834 | 6,734 |
| Items impacting comparability | ||
| Acquisition-related expenses and other, net | 476 | (119) |
| Adjusted EBITDA attributable to noncontrolling interests (1) | 17,719 | 15,302 |
| Adjusted EBITDA | $736,532 | $683,137 |
| Reconciliation of Net cash provided by operating activities to Adjusted EBITDA | ||
| Net cash provided by operating activities | $534,736 | $469,903 |
| Interest (income) expense, net | 108,984 | 113,390 |
| Accretion and amortization of long-term obligations, net | (734) | (882) |
| Current income tax expense (benefit) | 3,515 | 2,880 |
| Other (income) expense, net | (2,834) | (6,730) |
| Distributions from equity investments in excess of cumulative earnings – related parties | 18 | 9,889 |
| Changes in assets and liabilities: | ||
| Accounts receivable, net | 47,756 | 50,226 |
| Accounts and imbalance payables and accrued liabilities, net | (6,425) | 28,316 |
| Other items, net | 69,711 | 31,328 |
| Acquisition-related expenses | (476) | 119 |
| Adjusted EBITDA attributable to noncontrolling interests (1) | (17,719) | (15,302) |
| Adjusted EBITDA | $736,532 | $683,137 |
| Cash flow information | ||
| Net cash provided by operating activities | $534,736 | $469,903 |
| Net cash used in investing activities | (1,107,346) | (234,877) |
| Net cash provided by (used in) financing activities | 29,881 | (407,022) |
(1)Includes (i) the 25% third-party interest in Chipeta and (ii) the 1.8% and 1.9% limited partner interest in WES Operating owned by an Occidental subsidiary as of June 30, 2026, and March 31, 2026, respectively, which collectively represent WES’s noncontrolling interests.
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