WESTERN MIDSTREAM ANNOUNCES THIRD-QUARTER 2024 DISTRIBUTION AND EARNINGS CONFERENCE CALL

Rhea-AI Summary

Western Midstream Partners, LP (NYSE: WES) has announced its third-quarter 2024 distribution and earnings conference call details. The board of directors declared a quarterly cash distribution of $0.8750 per unit, maintaining the same level as the previous quarter. This equates to $3.50 on an annualized basis. The distribution is payable on November 14, 2024, to unitholders of record as of November 1, 2024.

WES will report its Q3 2024 results after market close on November 6, 2024. A conference call is scheduled for November 7, 2024, at 1:00 p.m. Central to discuss the quarterly results. Investors can dial in using the number 800-836-8184 (US) or 646-357-8785 (International). A live audio webcast and replay will be available on the company's website.

Positive

• Maintained quarterly cash distribution of $0.8750 per unit
• Annualized distribution of $3.50 per unit

Negative

• None.

Insights

Financial Analyst

Western Midstream Partners has announced its quarterly cash distribution for Q3 2024, maintaining the $0.8750 per unit Base Distribution. This equates to an annualized distribution of $3.50 per unit, consistent with the previous quarter. The distribution will be paid on November 14, 2024, to unitholders of record as of November 1, 2024.

While the maintained distribution suggests stability, it's important to note that there's no increase, which some investors might have hoped for in a growing market. The consistency could be viewed positively as it indicates the company's ability to sustain its payout level.

The announcement of the earnings call date (November 7, 2024) is standard practice and doesn't provide new financial insights. Investors should look forward to the Q3 results for a comprehensive view of WES's financial health and potential future distribution growth.

Given WES's $14.99 billion market cap, the stable distribution policy suggests a focus on maintaining a balance between returning value to unitholders and retaining capital for operations or growth initiatives. Investors should monitor the upcoming earnings report for any guidance on future distribution policies or growth prospects.

HOUSTON, Oct. 17, 2024 /PRNewswire/ -- Today Western Midstream Partners, LP (NYSE: WES) ("WES" or the "Partnership") announced that the board of directors of its general partner declared a quarterly cash distribution ("Base Distribution") of $0.8750 per unit for the third quarter of 2024, or $3.50 on an annualized basis, which is in-line with the prior quarter's Base Distribution. WES's third-quarter 2024 Base Distribution is payable on November 14, 2024, to unitholders of record at the close of business on November 1, 2024.

The Partnership plans to report its third-quarter 2024 results after market close on Wednesday, November 6, 2024. Management will host a conference call on Thursday, November 7, 2024, at 1:00 p.m. Central (2:00 p.m. Eastern) to discuss the Partnership's quarterly results. Participants are encouraged to dial into the conference call ten to fifteen minutes before the scheduled start time to avoid any delays entering the call. The full text of the release announcing the results will be available on the Partnership's website at www.westernmidstream.com.

Third-Quarter 2024 Results
Thursday, November 7, 2024
1:00 p.m. Central (2:00 p.m. Eastern)
Dial-in number: 800-836-8184
International dial-in number: 646-357-8785

To participate in WES's scheduled third-quarter 2024 earnings call, please refer to the above-listed dial-in information. To access the live audio webcast of the conference call, please visit the investor relations section of the Partnership's website at www.westernmidstream.com. A replay of the conference call will also be available on the website following the call.

ABOUT WESTERN MIDSTREAM

Western Midstream Partners, LP ("WES") is a master limited partnership formed to develop, acquire, own, and operate midstream assets. With midstream assets located in Texas, New Mexico, Colorado, Utah, and Wyoming, WES is engaged in the business of gathering, compressing, treating, processing, and transporting natural gas; gathering, stabilizing, and transporting condensate, natural-gas liquids, and crude oil; and gathering and disposing of produced water for its customers. In its capacity as a natural-gas processor, WES also buys and sells natural gas, natural-gas liquids, and condensate on behalf of itself and its customers under certain gas processing contracts. A substantial majority of WES's cash flows are protected from direct exposure to commodity price volatility through fee-based contracts.

For more information about WES, please visit www.westernmidstream.com.

This news release contains forward-looking statements. WES and its general partner believe that their expectations are based on reasonable assumptions. No assurance, however, can be given that such expectations will prove to have been correct. A number of factors could cause actual results to differ materially from the projections, anticipated results or other expectations expressed in this news release. These factors include our ability to meet distribution expectations and financial guidance; our ability to safely and efficiently operate WES's assets; the supply of, demand for, and price of oil, natural gas, NGLs, and related products or services; our ability to meet projected in-service dates for capital-growth projects; construction costs or capital expenditures exceeding estimated or budgeted costs or expenditures; and the other factors described in the "Risk Factors" section of WES's most-recent Form 10-K filed with the Securities and Exchange Commission and other public filings and press releases. WES undertakes no obligation to publicly update or revise any forward-looking statements.

Note regarding Non-United States Investors: This release is intended to be a qualified notice under Treasury Regulation Sections 1.1446-4(b) and 1.1446(f)-4. Brokers and nominees should treat one hundred percent (100.0%) of Western Midstream Partners, LP's distributions to non-U.S. investors as being attributable to income that is effectively connected with a United States trade or business. Accordingly, Western Midstream Partners, LP's distributions to non-U.S. investors are subject to federal income tax withholding at the highest applicable effective tax rate. Furthermore, one hundred percent (100.0%) of Western Midstream Partners, LP's distributions to non-U.S. investors is in excess of cumulative net income for purposes of Treasury Regulation Section 1.1446(f)-4(c)(iii). Brokers and nominees are treated as withholding agents responsible for withholding on distributions received by them on behalf of non-U.S. investors. The CUSIP number of Western Midstream Partners, LP's common units is 958669 103.

WESTERN MIDSTREAM CONTACTS

Daniel Jenkins
Director, Investor Relations                    
Investors@westernmidstream.com
866-512-3523

Rhianna Disch
Manager, Investor Relations
Investors@westernmidstream.com
866-512-3523

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SOURCE Western Midstream Partners, LP

FAQ

What is Western Midstream's (WES) quarterly distribution for Q3 2024?

Western Midstream Partners, LP (NYSE: WES) declared a quarterly cash distribution of $0.8750 per unit for the third quarter of 2024, which is equivalent to $3.50 on an annualized basis.

When will Western Midstream (WES) pay its Q3 2024 distribution?

Western Midstream Partners, LP (NYSE: WES) will pay its third-quarter 2024 distribution on November 14, 2024, to unitholders of record at the close of business on November 1, 2024.

When will Western Midstream (WES) report its Q3 2024 earnings?

Western Midstream Partners, LP (NYSE: WES) plans to report its third-quarter 2024 results after market close on Wednesday, November 6, 2024.

When is Western Midstream's (WES) Q3 2024 earnings conference call?

Western Midstream Partners, LP (NYSE: WES) will host its third-quarter 2024 earnings conference call on Thursday, November 7, 2024, at 1:00 p.m. Central (2:00 p.m. Eastern).