Western Midstream Partners Q2 Earnings Call Highlights

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Western Midstream Partners (NYSE:WES) reported grounds second-quarter adjusted EBITDA arsenic Delaware Basin earthy state and produced-water volumes rose, the precocious acquired Brazos Delaware II assets began contributing, and higher commodity prices supported results nether fixed-recovery processing contracts.

Chief Executive Officer Oscar Brown said adjusted EBITDA reached $737 million, up 8% sequentially and 19% from the prior-year period. The concern besides generated nett income attributable to constricted partners of $395 cardinal and distributable currency travel of $537 million, according to Chief Financial Officer Kristen Shults.

Guidance Raised Following Brazos Acquisition

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Western Midstream raised the midpoint of its 2026 adjusted EBITDA outlook by $250 cardinal to $2.85 billion, wrong a caller scope of $2.75 cardinal to $2.95 billion. The institution besides accrued its distributable currency travel guidance to $2.05 cardinal to $2.25 cardinal and escaped currency travel guidance to $1.1 cardinal to $1.3 billion, raising the midpoint of each scope by $200 million.

The revised outlook reflects the mid-June closing of the $1.6 cardinal acquisition of Brazos Delaware II, stronger commodity pricing during the archetypal half, a higher second-half commodity-price forecast, and accrued lawsuit enactment expected successful the Delaware and Powder River basins.

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Western Midstream funded the Brazos transaction with astir $800 cardinal successful currency and $800 cardinal successful communal units. Brown said the acquisition is accretive to per-unit metrics and expands the partnership's Delaware Basin gathering and processing presumption portion diversifying its lawsuit basal and ownership.