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Dec 31, 2024
Western Midstream Q4 2024 Earnings Report
Western Midstream reported strong earnings in Q4 2024, with increased throughput and free cash flow.
Key Takeaways
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.
Revenue by Segment
Revenue by Geographic Location
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.
Positive Outlook
- 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.
Challenges Ahead
- 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.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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