Western Midstream Partners, LP (WES) Earnings History
Annual and quarterly earnings data from 2008 to 2025
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WES EPS Growth (CAGR)
Compound annual growth rate of diluted earnings per share
CAGR (Compound Annual Growth Rate) shows the annualized growth rate of EPS over the specified period. A higher CAGR indicates stronger earnings momentum.
WES Profitability Analysis
Margin trends over time
| Year | Gross Margin | Operating Margin | Net Margin |
|---|---|---|---|
| 2025 | 68.5% | 41.3% | 30.4% |
| 2024 | 77.2% | 54.7% | 43.6% |
| 2023 | 75.4% | 44.4% | 32.9% |
| 2022 | 69.1% | 48.8% | 37.4% |
| 2021 | 69.6% | 46.4% | 31.8% |
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Western Midstream Partners, LP (WES) Earnings Overview
As of May 8, 2026, Western Midstream Partners, LP (WES) reported trailing twelve-month net income of $1.21B, reflecting -25.4% year-over-year growth. The company earned $3.02 per diluted share over the past four quarters, with a net profit margin of 30.4%.
Looking at the long-term picture, WES's 5-year EPS compound annual growth rate (CAGR) stands at +20.5%, indicating exceptional earnings growth. The company achieved its highest annual net income of $1.57B in fiscal 2024.
Western Midstream Partners, LP maintains industry-leading profitability with a gross margin of 68.5%, operating margin of 41.3%, and net margin of 30.4%. This margin structure demonstrates strong pricing power and operational efficiency. View revenue history →
Compared to peers including EPD ($5.80B net income, 11.1% margin), ET ($5.55B net income, 5.9% margin), MPLX ($4.71B net income, 41.6% margin), WES has outperformed on profitability metrics. Compare WES vs EPD →
WES Earnings vs Peers
Earnings metrics vs comparable public companies
WES Historical Earnings Data (2008–2025)
18 years| Fiscal Year | Net Income | YoY % | Operating Income | EPS (Diluted) | Net Margin | Op. Margin |
|---|---|---|---|---|---|---|
| 2025 | $1.17B | -25.7% | $1.59B | $3.00 | 30.4% | 41.3% |
| 2024 | $1.57B | +53.9% | $1.97B | $4.02 | 43.6% | 54.7% |
| 2023 | $1.02B | -16.0% | $1.38B | $2.60 | 32.9% | 44.4% |
| 2022 | $1.22B | +32.8% | $1.59B | $3.00 | 37.4% | 48.8% |
| 2021 | $916M | +73.9% | $1.34B | $2.18 | 31.8% | 46.4% |
| 2020 | $527M | -24.4% | $879M | $1.18 | 19.0% | 31.7% |
| 2019 | $697M | +88.7% | $1.23B | $1.68 | 25.4% | 44.8% |
| 2018 | $369M | -1.9% | $625M | $1.69 | 18.6% | 31.4% |
| 2017 | $377M | +8.9% | $704M | $1.72 | 16.8% | 31.3% |
| 2016 | $346M | +293.5% | $705M | $1.53 | 19.2% | 39.0% |
Full WES Stock Analysis
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Start ComparisonWES — Frequently Asked Questions
Quick answers to the most common questions about buying WES stock.
Is WES growing earnings?
WES EPS fell to $3.02, with earnings declining -25.4%. This contrasts with the 5-year CAGR of +20.5%. TTM net income dropped to $1.2B.
What are WES's profit margins?
Western Midstream Partners, LP net margin is +30.4%, with operating margin at +41.3%. Above-average margins indicate pricing power.
How consistent are WES's earnings?
WES earnings data spans 2008-2025. The declining earnings trend is -25.4% YoY. Historical data enables comparison across business cycles.