WES Q1 2025 Earnings
Reported May 7, 2025 at 4:21 PM ET · SEC Source
Q1 25 EPS
$0.79
MISS 3.89%
Est. $0.82
Q1 25 Revenue
$917.1M
MISS 1.02%
Est. $926.6M
vs S&P Since Q1 25
-1.5%
TRAILING MARKET
WES +26.0% vs S&P +27.5%
Market Reaction
Did WES Beat Earnings? Q1 2025 Results
Western Midstream Partners fell short of Wall Street expectations in the first quarter of 2025, posting earnings of $0.79 per diluted common unit against a consensus estimate of $0.82, a miss of 3.89%, while revenue of $917.12 million trailed the $92… Read more Western Midstream Partners fell short of Wall Street expectations in the first quarter of 2025, posting earnings of $0.79 per diluted common unit against a consensus estimate of $0.82, a miss of 3.89%, while revenue of $917.12 million trailed the $926.55 million estimate by 1.02%, even as the top line grew 3.3% year over year. The shortfall was shaped in part by modest sequential throughput declines across all product categories, with total natural-gas volumes dipping 2% to 5.1 Bcf/d and crude-oil and NGLs throughput falling 6% to 503 MBbls/d. Offsetting those headwinds, the early completion of the North Loving natural-gas processing plant added 250 MMcf/d of capacity and helped drive record Delaware Basin gas throughput of 2.0 Bcf/d, while free cash flow climbed to $399.40 million from $309.28 million the prior quarter. Management raised the quarterly distribution 4% to $0.91 per unit and kept full-year capital expenditure guidance unchanged at $625 million to $775 million, citing stable customer activity and contract structures that support predictable cash flows through commodity price volatility.
Key Takeaways
- • Record natural-gas throughput in the Delaware Basin of 2.0 Bcf/d
- • Increased NGLs recoveries combined with higher commodity pricing
- • Increased margin contribution from the Delaware Basin
- • Lower operating expenses
- • Fee-based contract structures providing predictable cash flows
WES YoY Financials
Q1 2025 vs Q1 2024, source: SEC Filings
WES Revenue by Segment
Business unit performance breakdown
“I am pleased to report another successful quarter for WES marked by strong financial performance and stability. We also successfully commenced operations at the North Loving plant in the Delaware Basin ahead of schedule and under budget in late February. This significant milestone positions WES for continued growth within the basin and demonstrates our commitment to operational excellence.”
— Oscar Brown, Q1 2025 Earnings Press Release
WES Earnings Trends
WES vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
WES EPS Trend
Earnings per share: estimate vs actual
WES Revenue Trend
Quarterly revenue: estimate vs actual
WES Quarterly Results
4 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q4 25 MISS FY | $0.94 | $0.47 | -50.20% | $1.03B | -2.57% |
| FY Full Year | $3.40 | $2.98 | -12.23% | $3.84B | -0.70% |
| Q3 25 MISS | $0.90 | $0.87 | -3.07% | $952.5M | -1.25% |
| Q2 25 BEAT | $0.84 | $0.87 | +3.76% | $942.3M | -0.24% |
| Q1 25 MISS | $0.82 | $0.79 | -3.89% | $917.1M | -1.02% |