Western Midstream Partners, LP
For the period ended Nov 4, 2026. Filed Nov 4, 2026.
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Nov 4, 2026 · Filed Nov 4, 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 | September 30,2026 | June 30,2026 |
| Reconciliation of Net income (loss) to Adjusted EBITDA | ||
| Net income (loss) | $338,979 | $415,251 |
| Add: | ||
| Distributions from equity investments | 24,514 | 24,630 |
| Non-cash equity-based compensation expense | 12,730 | 13,507 |
| Interest expense | 116,580 | 108,984 |
| Income tax expense | 6,780 | 5,152 |
| Depreciation and amortization | 223,776 | 205,945 |
| Long-lived asset and other impairments | 557 | 551 |
| Other expense | — | 329 |
| Less: | ||
| Gain (loss) on divestiture and other, net | (5,831) | (4,598) |
| Gain (loss) on early extinguishment of debt | — | (150) |
| Equity income, net – related parties | 18,803 | 21,536 |
| Other income | 835 | 2,834 |
| Items impacting comparability | ||
| Acquisition-related expenses and other, net | (12,514) | 476 |
| Adjusted EBITDA attributable to noncontrolling interests (1) | 14,275 | 17,719 |
| Adjusted EBITDA | $708,348 | $736,532 |
| Reconciliation of Net cash provided by operating activities to Adjusted EBITDA | ||
| Net cash provided by operating activities | $567,510 | $534,736 |
| Interest expense | 116,580 | 108,984 |
| Accretion and amortization of long-term obligations, net | (921) | (734) |
| Current income tax expense (benefit) | 2,448 | 3,515 |
| Other (income) expense, net | (792) | (2,834) |
| Distributions from equity investments in excess of cumulative earnings – related parties | 4,081 | 18 |
| Changes in assets and liabilities: | ||
| Accounts receivable, net | 120,046 | 47,756 |
| Accounts and imbalance payables and accrued liabilities, net | (122,949) | (6,425) |
| Other items, net | 24,106 | 69,711 |
| Acquisition-related expenses and other, net | 12,514 | (476) |
| Adjusted EBITDA attributable to noncontrolling interests (1) | (14,275) | (17,719) |
| Adjusted EBITDA | $708,348 | $736,532 |
| Cash flow information | ||
| Net cash provided by operating activities | $567,510 | $534,736 |
| Net cash provided by (used in) investing activities | (317,768) | (1,107,346) |
| Net cash provided by (used in) financing activities | (310,008) | 29,881 |
(1)Includes (i) the 25% third-party interest in Chipeta and (ii) the 1.8% and 1.8% limited partner interest in WES Operating owned by an Occidental subsidiary as of September 30, 2026, and June 30, 2026, respectively, which collectively represent WES’s noncontrolling interests.
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