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	Sep 30, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Operating Revenue	3,534	3,106	3,251	2,876	2,771	2,745
Other Revenue	1.13	0.97	0.95	0.79	1.34	1.47
Revenue	3,535	3,106	3,252	2,877	2,773	2,746
Revenue Growth (YoY)	16.75%	-4.47%	13.02%	3.77%	0.96%	19.42%
Cost of Revenue	1,023	927.13	1,075	903.59	768.96	1,085
Gross Profit	2,511	2,179	2,176	1,974	2,004	1,661
Selling, General & Admin	268.56	232.63	194.02	195.55	155.77	114.59
Other Operating Expenses	60.48	56.46	78.56	64.27	68.34	61.35
Operating Expenses	981.66	889.76	854.94	811.45	715.2	659.2
Operating Income	1,530	1,290	1,321	1,162	1,288	1,002
Interest Expense	-376.8	-348.23	-333.94	-376.51	-380.06	-428.59
Interest & Investment Income	-	-	-	-	11.74	16.9
Earnings From Equity Investments	120.35	152.96	183.48	204.65	226.75	237.52
Other Non Operating Income (Expenses)	18.99	5.68	1.6	-0.62	1.03	1.52
EBT Excluding Unusual Items	1,292	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	292.99	-10.1	-6.22	-5.36	-12.37	-1.41
Asset Writedown	-6.21	-52.88	-0.7	-30.54	-174.49	-6.28
Other Unusual Items	5.4	15.38	0.09	-24.94	11.23	-29.28
Pretax Income	1,584	1,052	1,256	934.19	522.85	791.89
Income Tax Expense	19.07	4.39	4.19	-9.81	6	13.47
Earnings From Continuing Operations	1,565	1,048	1,251	944	516.85	778.42
Minority Interest in Earnings	-72.68	-49.48	-61.89	-47.52	-0.94	-116.1
Net Income	1,493	998.53	1,190	896.48	515.91	662.33
Net Income to Common	1,493	998.53	1,190	896.48	515.91	662.33
Net Income Growth	42.78%	-16.06%	32.69%	73.77%	-22.11%	79.28%
Shares Outstanding (Basic)	380	383	395	411	436	416
Shares Outstanding (Diluted)	382	384	396	412	436	416
Shares Change (YoY)	-0.92%	-2.99%	-3.83%	-5.42%	4.77%	89.92%
EPS (Basic)	3.93	2.61	3.01	2.18	1.18	1.59
EPS (Diluted)	3.91	2.60	3.00	2.18	1.18	1.59
EPS Growth	44.12%	-13.33%	37.64%	84.71%	-25.79%	-5.77%
Free Cash Flow	1,262	926.17	1,214	1,453	1,214	-1,873
Free Cash Flow Per Share	3.30	2.41	3.06	3.53	2.79	-4.50
Dividend Per Share	3.200	2.212	2.000	1.284	1.244	2.470
Dividend Growth	49.71%	10.62%	55.76%	3.22%	-49.64%	5.16%
Gross Margin	71.05%	70.15%	66.93%	68.59%	72.27%	60.47%
Operating Margin	43.28%	41.51%	40.63%	40.39%	46.47%	36.47%
Profit Margin	42.23%	32.14%	36.58%	31.16%	18.61%	24.12%
Free Cash Flow Margin	35.70%	29.81%	37.34%	50.51%	43.78%	-68.19%
EBITDA	2,197	1,905	1,918	1,714	1,780	1,485
EBITDA Margin	62.16%	61.33%	58.99%	59.56%	64.18%	54.07%
D&A For EBITDA	667.67	615.71	596.84	551.63	491.09	483.26
EBIT	1,530	1,290	1,321	1,162	1,288	1,002
EBIT Margin	43.28%	41.51%	40.63%	40.39%	46.47%	36.47%
Effective Tax Rate	1.20%	0.42%	0.33%	-	1.15%	1.70%
Revenue as Reported	3,535	3,106	3,252	2,877	2,773	2,746

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