Western Midstream Partners, Lp ( (WES) ) has released its Q4 earnings. Here is a breakdown of the information Western Midstream Partners, Lp presented to its investors.
Western Midstream Partners, LP is a master limited partnership engaged in the development, acquisition, and operation of midstream assets, primarily focusing on gathering, compressing, treating, processing, and transporting natural gas, as well as handling crude oil, natural gas liquids, and produced water across several U.S. states.
In its latest earnings report, Western Midstream Partners announced robust financial results for the fourth quarter and full year of 2024. The company reported a net income attributable to limited partners of $325.9 million for the fourth quarter and $1.537 billion for the full year, with adjusted EBITDA reaching $590.7 million and $2.344 billion, respectively. These figures exceeded the company’s guidance ranges, highlighting strong operational performance.
Key highlights from the report include record annual natural-gas throughput of 5.1 Bcf/d and significant year-over-year growth in crude-oil and NGLs throughput. The company also achieved a record produced-water throughput and successfully divested non-core assets, using the proceeds to reduce long-term debt. Additionally, Western Midstream returned $1.246 billion to unitholders and achieved its net leverage ratio target.
Looking ahead, Western Midstream plans to continue its growth trajectory by focusing on capital-efficient, organic growth projects, such as the newly sanctioned Pathfinder pipeline. The company aims to leverage its strong position in the Delaware Basin to drive further volume growth and maintain its commitment to returning value to unitholders through distributions.
Overall, Western Midstream’s strong financial performance and strategic initiatives position it well for continued success in the midstream sector, with management expressing confidence in achieving further growth and stability in the coming year.