NYSE$WES
Western Midstream Partners LP · Q4 2024 earnings
Q4 2024 earnings · · After market close · Investor relations
Briefing
Western Midstream reported strong earnings in Q4 2024, with increased throughput and free cash flow.
Western Midstream Partners, LP reported Q4 2024 net income of $325.9 million and Adjusted EBITDA of $590.7 million. Natural gas, crude oil, and produced water throughput saw sequential growth. The company generated $309.3 million in free cash flow and maintained a strong balance sheet while executing its capital return strategy.
- Net income of $325.9 million and Adjusted EBITDA of $590.7 million in Q4 2024.
- Generated $309.3 million in free cash flow, supporting capital return strategy.
- Natural gas throughput increased by 4% sequentially to 5.2 Bcf/d.
- Announced Q4 base distribution of $0.875 per unit, consistent with prior quarters.
Headline financials
Revenue & EPS history
Western Midstream · Revenue · Quarterly
$929M
Forward guidance
Western Midstream expects continued volume growth across its core business segments, with infrastructure expansion projects supporting future revenue streams. The company remains focused on capital efficiency and stable distributions.
Tailwinds
- Projected mid-to-low single-digit annual distribution growth rate.
- Expected strong throughput growth in Delaware and DJ Basins.
- Continued leverage reduction to maintain financial flexibility.
- New long-term produced-water agreement with Occidental.
- Expansion of natural gas processing infrastructure with Mentone III and North Loving projects.
Headwinds
- Potential macroeconomic headwinds impacting energy demand.
- Higher interest expenses due to rising rate environment.
- Commodity price volatility affecting revenue stability.
- Ongoing capital expenditure requirements for expansion projects.
- Regulatory uncertainties in key operating regions.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q4 2024
+0.8%
Avg return
Earnings day
+0.6%
Avg return
5 days after
+0.1%
Avg return
30 days after
44%
24 / 54 earnings
Positive
+42.0%
Q3 2020
Best reaction
-11.9%
Q2 2019
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +5.1% | +7.5% | +7.3% | |
| Q4 2025 | -6.0% | -6.7% | -5.1% | |
| Q3 2025 | +2.5% | +4.9% | +7.1% | |
| Q2 2025 | -5.0% | -5.4% | -5.7% | |
| Q1 2025 | +2.2% | +9.5% | +6.2% | |
| Q4 2024 | -1.2% | -4.3% | +2.5% | |
| Q3 2024 | -1.2% | -5.4% | +6.6% | |
| Q2 2024 | +1.5% | -2.6% | -3.0% | |
| Q1 2024 | +2.3% | +4.2% | +7.3% | |
| Q4 2023 | +9.1% | +10.0% | +12.4% | |
| Q3 2023 | +6.7% | +5.6% | +11.3% | |
| Q2 2023 | -2.1% | +0.5% | -7.5% | |
| Q1 2023 | -0.8% | +0.6% | +2.9% | |
| Q4 2022 | -3.5% | -4.6% | -10.1% | |
| Q3 2022 | -1.6% | -3.2% | +0.3% | |
| Q2 2022 | -6.2% | -2.6% | -1.1% | |
| Q1 2022 | -0.5% | +6.4% | +16.9% | |
| Q4 2021 | -2.6% | +4.5% | +0.6% | |
| Q3 2021 | -1.5% | +1.4% | -7.6% | |
| Q2 2021 | +2.8% | +6.4% | +6.9% | |
| Q1 2021 | +0.8% | +3.8% | +4.8% | |
| Q4 2020 | +11.3% | +3.9% | +12.6% | |
| Q3 2020 | +42.0% | +44.1% | +93.1% | |
| Q2 2020 | +2.1% | -3.2% | -15.1% | |
| Q1 2020 | -5.5% | -7.9% | +24.8% | |
| Q4 2019 | -2.6% | -1.0% | -75.2% | |
| Q3 2019 | -3.9% | -7.7% | -17.1% | |
| Q2 2019 | -11.9% | -15.4% | -22.5% | |
| Q1 2019 | -6.0% | -8.7% | -11.4% | |
| Q4 2018 | +3.7% | +7.6% | +1.5% | |
| Q3 2018 | -1.7% | +0.1% | -0.8% | |
| Q2 2018 | -3.9% | -2.9% | -9.8% | |
| Q1 2018 | +1.7% | +1.4% | +8.3% | |
| Q4 2017 | -2.2% | -2.6% | -11.3% | |
| Q3 2017 | -0.4% | -2.4% | -8.5% | |
| Q2 2017 | +0.7% | -0.5% | -3.2% | |
| Q1 2017 | -1.6% | -3.1% | -5.0% | |
| Q4 2016 | -1.0% | -4.3% | -4.8% | |
| Q3 2016 | -0.8% | -1.7% | -0.0% | |
| Q2 2016 | +1.9% | -0.3% | -2.7% | |
| Q1 2016 | -0.5% | — | — | |
| Q4 2015 | +14.9% | — | — | |
| Q3 2015 | +1.5% | — | — | |
| Q2 2015 | +1.0% | — | — | |
| Q1 2015 | -0.6% | — | — | |
| Q4 2014 | -3.8% | — | — | |
| Q3 2014 | +1.9% | — | — | |
| Q2 2014 | -1.7% | — | — | |
| Q1 2014 | +0.4% | — | — | |
| Q4 2013 | +4.1% | — | — | |
| Q3 2013 | +2.2% | — | — | |
| Q2 2013 | -0.9% | — | — | |
| Q1 2013 | -3.5% | — | — | |
| Q4 2012 | +3.6% | — | — | |
| Q3 2012 | — | — | — | |
| Q2 2012 | — | — | — | |
| Q1 2012 | — | — | — | |
| Q4 2011 | — | — | — |
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