Western Midstream Partners, Lp ( (WES) ) has released its Q3 earnings. Here is a breakdown of the information Western Midstream Partners, Lp presented to its investors.
Western Midstream Partners, LP is a Delaware-based master limited partnership engaged in the gathering, processing, and transportation of natural gas and related products, primarily operating in Texas, New Mexico, and the Rocky Mountain regions. The company recently reported its earnings for the quarter ended September 30, 2024. Western Midstream Partners, LP announced a significant increase in revenues, reaching $883.4 million for the three months ended September 30, 2024, an improvement from $776.0 million in the same quarter of the previous year. This growth was driven by both fee-based service revenues and product-based service revenues. The company also reported a notable increase in net income, which rose to $295.9 million for the quarter, up from $284.4 million in the prior-year period. Operating income surged to $395.9 million, highlighting the company’s robust operational efficiency. Despite these positive developments, the company faced increased operating expenses, including higher costs for operation and maintenance, general and administrative expenses, and depreciation. Western Midstream’s management remains optimistic about its future prospects, focusing on strategic investments and operational enhancements to drive sustained growth and shareholder value.
