Western Midstream Partners, LP (WES) quarterly income statement — complete revenue, gross profit & net income history
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 | Q2'23 | Q1'23 | Q4'22 | Q3'22 | Q2'22 | Q1'22 | Q4'21 | Q3'21 | Q2'21 |
|---|
| Sales/Revenue | 1.12B | 1.03B | 952.48M | 942.32M | 917.12M | 928.5M | 883.36M | 905.63M | 887.73M | 858.21M | 776.01M | 738.27M | 733.98M | 779.44M | 837.57M | 876.42M | 758.3M | 719.21M | 763.84M | 719.13M |
| Revenue Growth % | 22.51% | 11.09% | 7.82% | 4.05% | 3.31% | 8.19% | 13.83% | 22.67% | 20.95% | 10.11% | -7.35% | -15.76% | -3.21% | 8.37% | 9.65% | 21.87% | 12.34% | 11.08% | 12.49% | 7.05% |
| Cost of Goods Sold | 264.24M | 521.87M | 263.57M | 214.79M | 211.95M | 202.31M | 198.86M | 217.44M | 204.07M | 205.99M | 174.95M | 188.24M | 196.09M | 244.57M | 263.67M | 287.59M | 207.43M | 216.26M | 222.23M | 215.89M |
| COGS % of Revenue | 23.52% | 50.59% | 27.67% | 22.79% | 23.11% | 21.79% | 22.51% | 24.01% | 22.99% | 24% | 22.55% | 25.5% | 26.72% | 31.38% | 31.48% | 32.81% | 27.35% | 30.07% | 29.09% | 30.02% |
| Gross Profit | 859.34M | 509.61M | 688.91M | 727.53M | 705.16M | 726.2M | 684.5M | 688.19M | 683.66M | 652.22M | 601.06M | 550.03M | 537.9M | 534.86M | 573.9M | 588.83M | 550.87M | 502.94M | 541.61M | 503.24M |
| Gross Margin % | 76.48% | 49.41% | 72.33% | 77.21% | 76.89% | 78.21% | 77.49% | 75.99% | 77.01% | 76% | 77.45% | 74.5% | 73.28% | 68.62% | 68.52% | 67.19% | 72.65% | 69.93% | 70.91% | 69.98% |
| Gross Profit Growth % | 21.86% | -29.82% | 0.64% | 5.72% | 3.15% | 11.34% | 13.88% | 25.12% | 27.1% | 21.94% | 4.73% | -6.59% | -2.35% | 6.35% | 5.96% | 17.01% | 20.95% | -0.72% | 5.22% | -5.65% |
| Operating Expenses | 398.55M | 219.86M | 247.35M | 283.05M | 295.36M | 300.45M | 288.63M | 218.44M | 4.29M | 260.3M | 240.3M | 213.36M | 247.69M | 106.21M | 216.88M | 191.44M | 146.04M | 177.22M | 158.34M | 168.29M |
| OpEx % of Revenue | 35.47% | 21.31% | 25.97% | 30.04% | 32.21% | 32.36% | 32.67% | 24.12% | 0.48% | 30.33% | 30.97% | 28.9% | 33.75% | 13.63% | 25.89% | 21.84% | 19.26% | 24.64% | 20.73% | 23.4% |
| Selling, General & Admin | 75.15M | 201.87M | 64.12M | 66.15M | 66.79M | 76.03M | 64.73M | 62.93M | 67.84M | 73.06M | 55.05M | 53.41M | 51.12M | 49.38M | 48.19M | 47.85M | 48.6M | 55.58M | 50.41M | 44.45M |
| SG&A % of Revenue | 6.69% | 19.57% | 6.73% | 7.02% | 7.28% | 8.19% | 7.33% | 6.95% | 7.64% | 8.51% | 7.09% | 7.23% | 6.96% | 6.34% | 5.75% | 5.46% | 6.41% | 7.73% | 6.6% | 6.18% |
| Research & Development | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| R&D % of Revenue | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Operating Expenses | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | -1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K |
| Operating Income | 469.19M | 289.76M | 441.56M | 444.48M | 409.8M | 425.74M | 395.87M | 469.75M | 679.37M | 391.92M | 360.76M | 336.67M | 290.21M | 428.66M | 357.02M | 397.39M | 404.82M | 325.72M | 383.27M | 334.95M |
| Operating Margin % | 41.76% | 28.09% | 46.36% | 47.17% | 44.68% | 45.85% | 44.81% | 51.87% | 76.53% | 45.67% | 46.49% | 45.6% | 39.54% | 55% | 42.63% | 45.34% | 53.39% | 45.29% | 50.18% | 46.58% |
| Operating Income Growth % | 14.49% | -31.94% | 11.54% | -5.38% | -39.68% | 8.63% | 9.73% | 39.53% | 134.1% | -8.57% | 1.05% | -15.28% | -28.31% | 31.6% | -6.85% | 18.64% | 38.48% | -12.66% | 10.42% | -10.39% |
| EBITDA | 669.62M | 487.64M | 611.88M | 616.59M | 580.26M | 588.73M | 561.88M | 633.18M | 837.37M | 557.1M | 508.13M | 480.16M | 434.84M | 580.57M | 513.86M | 536.42M | 539.41M | 469.95M | 522.27M | 472.8M |
| EBITDA Margin % | 59.6% | 47.28% | 64.24% | 65.43% | 63.27% | 63.41% | 63.61% | 69.92% | 94.33% | 64.91% | 65.48% | 65.04% | 59.24% | 74.49% | 61.35% | 61.21% | 71.13% | 65.34% | 68.37% | 65.75% |
| EBITDA Growth % | 15.4% | -17.17% | 8.9% | -2.62% | -30.7% | 5.68% | 10.58% | 31.87% | 92.57% | -4.04% | -1.12% | -10.49% | -19.39% | 23.54% | -1.61% | 13.46% | 27.55% | -1.96% | 8.88% | -4.21% |
| D&A (Non-Cash Add-back) | 200.43M | 197.88M | 170.32M | 172.11M | 170.46M | 162.99M | 166.01M | 163.43M | 157.99M | 165.19M | 147.36M | 143.49M | 144.63M | 151.91M | 156.84M | 139.04M | 134.58M | 144.22M | 139M | 137.85M |
| EBIT | 0 | 289.76M | 443.31M | 445.13M | 414.08M | 437.98M | 402.19M | 482.41M | 679.04M | 391.58M | 365.15M | 342.94M | 288.55M | 427.08M | 354.02M | 394.37M | 401.9M | 323.07M | 355.57M | 331.85M |
| Net Interest Income | 113.39M | -111.92M | -92.35M | -92.13M | -94.09M | -95.96M | -90.91M | -94.09M | -94.51M | -97.62M | -82.75M | -86.18M | -81.67M | -84.61M | -83.11M | -80.77M | -85.45M | -89.47M | -93.26M | -95.29M |
| Interest Income | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Expense | -113.39M | 111.92M | 92.35M | 92.13M | 94.09M | 95.96M | 90.91M | 94.09M | 94.51M | 97.62M | 82.75M | 86.18M | 81.67M | 84.61M | 83.11M | 80.77M | 85.45M | 89.47M | 93.26M | 95.29M |
| Other Income/Expense | -106.66M | -86.16M | -90.6M | -91.48M | -89.82M | -83.72M | -84.58M | -81.43M | -91.64M | -94.76M | -75.46M | -76.5M | -80.45M | -83.12M | -83.05M | -80.73M | -85.35M | -89.08M | -117.8M | -95.21M |
| Pretax Income | 362.53M | 203.59M | 350.96M | 353M | 319.99M | 342.02M | 311.28M | 388.32M | 587.74M | 297.16M | 285.3M | 260.18M | 209.76M | 345.54M | 273.97M | 316.66M | 319.48M | 236.64M | 265.46M | 239.74M |
| Pretax Margin % | 32.27% | 19.74% | 36.85% | 37.46% | 34.89% | 36.84% | 35.24% | 42.88% | 66.21% | 34.63% | 36.77% | 35.24% | 28.58% | 44.33% | 32.71% | 36.13% | 42.13% | 32.9% | 34.75% | 33.34% |
| Income Tax | 3.5M | 7.32M | 2.09M | 2.24M | 3.44M | 444K | 15.39M | 755K | 1.52M | 1.41M | 905K | 659K | 1.42M | 504K | 387K | 1.49M | 1.8M | -14.21M | 1.83M | 1.47M |
| Effective Tax Rate % | 0.97% | 3.6% | 0.6% | 0.63% | 1.07% | 0.13% | 4.94% | 0.19% | 0.26% | 0.47% | 0.32% | 0.25% | 0.68% | 0.15% | 0.14% | 0.47% | 0.56% | -6% | 0.69% | 0.61% |
| Net Income | 350.28M | 187.18M | 331.73M | 341.68M | 309.01M | 333.61M | 288.48M | 378.65M | 572.83M | 288.35M | 277.3M | 252.92M | 203.65M | 336.32M | 265.75M | 306.32M | 308.72M | 243.52M | 255.72M | 231.26M |
| Net Margin % | 31.18% | 18.15% | 34.83% | 36.26% | 33.69% | 35.93% | 32.66% | 41.81% | 64.53% | 33.6% | 35.73% | 34.26% | 27.75% | 43.15% | 31.73% | 34.95% | 40.71% | 33.86% | 33.48% | 32.16% |
| Net Income Growth % | 13.36% | -43.89% | 14.99% | -9.76% | -46.06% | 15.7% | 4.03% | 49.71% | 181.29% | -14.26% | 4.35% | -17.43% | -34.04% | 38.11% | 3.92% | 32.46% | 66.16% | -7.72% | 3.7% | -15.3% |
| Net Income (Continuing) | 350.28M | 196.27M | 348.87M | 350.76M | 316.55M | 341.58M | 295.89M | 387.56M | 586.22M | 295.75M | 284.4M | 259.52M | 208.34M | 345.03M | 273.58M | 315.17M | 317.67M | 250.85M | 263.64M | 238.28M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 141.2M | 141.89M | 146.46M | 144.47M | 140.16M | 139.56M | 140.69M | 140.78M | 139.42M | 131.71M | 131.46M | 133.1M | 134.59M | 136.41M | 138.13M | 140.68M | 141.85M | 137.69M | 130.5M | 125.81M |
| EPS (Diluted) | 0.87 | 0.47 | 0.87 | 0.87 | 0.79 | 0.85 | 0.74 | 0.97 | 1.47 | 0.74 | 0.70 | 0.64 | 0.52 | 0.85 | 0.66 | 0.74 | 0.75 | 0.58 | 0.61 | 0.55 |
| EPS Growth % | 10.13% | -44.71% | 17.57% | -10.31% | -46.26% | 14.86% | 5.71% | 51.56% | 182.69% | -12.94% | 6.06% | -13.51% | -30.67% | 46.55% | 8.2% | 34.55% | 70.45% | -6.45% | 10.91% | -8.33% |
| EPS (Basic) | 0.88 | 0.47 | 0.87 | 0.88 | 0.79 | 0.86 | 0.74 | 0.97 | 1.47 | 0.74 | 0.71 | 0.64 | 0.52 | 0.85 | 0.67 | 0.74 | 0.75 | 0.58 | 0.61 | 0.55 |
| Diluted Shares Outstanding | 400.57M | 402.46M | 382.79M | 382.33M | 382.49M | 382.92M | 382.62M | 382.25M | 381.63M | 381.14M | 384.77M | 385.51M | 385.75M | 386.48M | 390.32M | 404.16M | 404.46M | 408.45M | 412.71M | 413.72M |
| Basic Shares Outstanding | 399.1M | 400.49M | 381.33M | 381.33M | 380.99M | 380.56M | 380.51M | 380.49M | 380.02M | 379.52M | 383.56M | 384.61M | 384.47M | 384.88M | 388.91M | 403.03M | 403.25M | 407.21M | 411.91M | 413.07M |
| Dividend Payout Ratio | 108.39% | 202.76% | 107.09% | 103.97% | 112.41% | 102.19% | 118.16% | 90.02% | 40.05% | 77.49% | 79.86% | 133.24% | 96.53% | 58.59% | 74.41% | 67.31% | 43.65% | 55.38% | 52.66% | 57.5% |