WES Western Midstream Partners, LP

BULLISH Impact: 8/10 8-K
Horizon weeks Filed May 6, 2026 Processed 1mo ago SEC 0001423902-26-000043
8-K Item 2.02: Earnings release
Latest settled — T+20d
WES ▲ +1.69% at T+20d
LONG call ✓ call won +1.69% · α vs SPY -1.45% · entry $43.30 → $44.03
Next anchor: T+60d in 7w
Currently $43.50 · +0.46% from $43.30 entry
Entry anchored
May 6, 2026
via day open
T+1d
+0.44%
call +0.44% · α -0.39%
$43.49
settled 5w ago
T+5d
+4.83%
call +4.83% · α +3.32%
$45.39
settled 28d ago
T+20d
+1.69%
call +1.69% · α -1.45%
$44.03
settled 6d ago
T+60d
—
call — · α —
—
in 7w

Price Chart

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Executive Summary

WES reported Q1 2026 diluted EPS of $0.85, beating consensus of $0.74 by ~14.9%, on revenue of $1.12B (+22.5% YoY). Record Adjusted EBITDA of $683.1M and a 2.2% distribution increase. Concurrently announced the $1.6B accretive acquisition of Brazos Delaware II, expected to close by end of Q2 2026. The combination of strong operational results and strategic expansion drives a bullish outlook.

Key Financial Metrics

Free Cash Flow
$242.3M

Actionable Insight

The strong quarterly beat and accretive acquisition signal accelerating growth and management confidence. Monitor the Brazos deal close and integration for further upside. The distribution increase supports income-focused investors.

Key Facts

  • Q1 2026 diluted EPS $0.85 vs consensus $0.74 (beat 14.9%)
  • Revenue $1.12B, up 22.5% YoY
  • Record Adjusted EBITDA $683.1M, up 15% YoY
  • Quarterly distribution increased to $0.930/unit (+2.2% sequentially)
  • Announced $1.6B acquisition of Brazos Delaware II (50% cash, 50% equity)
  • Expects to be towards high end of 2026 Adjusted EBITDA and DCF guidance

Financial Impact

EPS beat of ~$0.11 vs consensus; revenue beat by ~$100M; acquisition valued at $1.6B (9.5% of market cap)

epsrevenueadjusted-ebitdadistributable-cash-flow

Risk Factors

  • Acquisition integration risk and potential cost overruns
  • Dilution from $800M in unit issuance for Brazos
  • Commodity price exposure impacting skim oil and NGL revenues

Market Snapshot

Exchange
NYSE
Sector
Natural Gas Transmission
Analyst Consensus
33% bullish (18 analysts)

Documents Analyzed

This report is based on 7 SEC documents filed with EDGAR.

DocumentAccession Number
8-K Filing (Primary)0001423902-26-000043
Document: wes-20260506.htm0001423902-26-000043
Document: wes2026q1xex992xnewsrelease.htm0001423902-26-000043
Document: 0001423902-26-000043-index-headers.html0001423902-26-000043
Document: 0001423902-26-000043-index.html0001423902-26-000043
Document: 0001423902-26-000043.txt0001423902-26-000043
8-K Data (Synthetic)0001423902-26-000043

US Market Status

Market Closed — Opens Thu (10h 3m)

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