Western Midstream Partners, LP (WES)

WES Income Statement

Financials in millions USD. Fiscal year is January - December.

Fiscal Year	TTM	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019
Period Ending	Jun 30, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Operating Revenue	3,426	3,106	3,251	2,876	2,771	2,745
Other Revenue	1.24	0.97	0.95	0.79	1.34	1.47
Revenue	3,428	3,106	3,252	2,877	2,773	2,746
Revenue Growth (YoY)	10.95%	-4.47%	13.02%	3.77%	0.96%	19.42%
Cost of Revenue	991.6	927.13	1,075	903.59	768.96	1,085
Gross Profit	2,436	2,179	2,176	1,974	2,004	1,661
Selling, General & Admin	258.88	232.63	194.02	195.55	155.77	114.59
Other Operating Expenses	62.43	56.46	78.56	64.27	68.34	61.35
Operating Expenses	955.28	889.76	854.94	811.45	715.2	659.2
Operating Income	1,481	1,290	1,321	1,162	1,288	1,002
Interest Expense	-365.4	-348.23	-333.94	-376.51	-380.06	-428.59
Interest & Investment Income	-	-	-	-	11.74	16.9
Earnings From Equity Investments	131.86	152.96	183.48	204.65	226.75	237.52
Other Non Operating Income (Expenses)	8.15	5.68	1.6	-0.62	1.03	1.52
EBT Excluding Unusual Items	1,255	1,100	1,172	989.64	1,148	828.86
Impairment of Goodwill	-	-	-	-	-441.02	-
Gain (Loss) on Sale of Investments	-	-	90.02	5.4	-8.4	-
Gain (Loss) on Sale of Assets	291.05	-10.1	-6.22	-5.36	-12.37	-1.41
Asset Writedown	-1.8	-52.88	-0.7	-30.54	-174.49	-6.28
Other Unusual Items	13.97	15.38	0.09	-24.94	11.23	-29.28
Pretax Income	1,559	1,052	1,256	934.19	522.85	791.89
Income Tax Expense	4.59	4.39	4.19	-9.81	6	13.47
Earnings From Continuing Operations	1,554	1,048	1,251	944	516.85	778.42
Minority Interest in Earnings	-72.12	-49.48	-61.89	-47.52	-0.94	-116.1
Net Income	1,482	998.53	1,190	896.48	515.91	662.33
Net Income to Common	1,482	998.53	1,190	896.48	515.91	662.33
Net Income Growth	43.29%	-16.06%	32.69%	73.77%	-22.11%	79.28%
Shares Outstanding (Basic)	381	383	395	411	436	416
Shares Outstanding (Diluted)	383	384	396	412	436	416
Shares Change (YoY)	-1.13%	-2.99%	-3.83%	-5.42%	4.77%	89.92%
EPS (Basic)	3.89	2.61	3.01	2.18	1.18	1.59
EPS (Diluted)	3.87	2.60	3.00	2.18	1.18	1.59
EPS Growth	44.83%	-13.33%	37.64%	84.71%	-25.79%	-5.77%
Free Cash Flow	1,093	926.17	1,214	1,453	1,214	-1,873
Free Cash Flow Per Share	2.86	2.41	3.06	3.53	2.79	-4.50
Dividend Per Share	2.900	2.212	2.000	1.284	1.244	2.470
Dividend Growth	40.61%	10.62%	55.76%	3.22%	-49.64%	5.16%
Gross Margin	71.07%	70.15%	66.93%	68.59%	72.27%	60.47%
Operating Margin	43.20%	41.51%	40.63%	40.39%	46.47%	36.47%
Profit Margin	43.23%	32.14%	36.58%	31.16%	18.61%	24.12%
Free Cash Flow Margin	31.89%	29.81%	37.34%	50.51%	43.78%	-68.19%
EBITDA	2,130	1,905	1,918	1,714	1,780	1,485
EBITDA Margin	62.13%	61.33%	58.99%	59.56%	64.18%	54.07%
D&A For EBITDA	649.01	615.71	596.84	551.63	491.09	483.26
EBIT	1,481	1,290	1,321	1,162	1,288	1,002
EBIT Margin	43.20%	41.51%	40.63%	40.39%	46.47%	36.47%
Effective Tax Rate	0.29%	0.42%	0.33%	-	1.15%	1.70%
Revenue as Reported	3,428	3,106	3,252	2,877	2,773	2,746

Source: S&P Capital IQ. Standard template. Financial Sources.