Overview

* Western Midstream ( WES ) Q3 net income at $331.7 mln, Adjusted EBITDA hits all-time high of $633.8 mln

* Company closed Aris acquisition on Oct. 15, enhancing position in Delaware Basin

* Western Midstream ( WES ) expects to hit high end of 2025 EBITDA, Free Cash Flow guidance

Outlook

* Company anticipates 2025 Adjusted EBITDA towards high end of $2.35 bln to $2.55 bln range

* Company expects 2025 Free Cash Flow above $1.475 bln

Result Drivers

* COST OPTIMIZATION - Lower operational costs and efficiency improvements drove record Adjusted EBITDA

* ARIS ACQUISITION - Closing of Aris acquisition strengthens position in Delaware Basin, expected to capture $40 mln in cost synergies

* PIPELINE OPTIMIZATION - Agreement for incremental disposal capacity to support Pathfinder pipeline project, enhancing returns

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q3 Net $348.87

Income mln

Q3 $525.30

Operatin mln

g

Expenses

Q3 $441.56

Operatin mln

g Income

Q3 $350.96

Pretax mln

Profit

Analyst Coverage

* The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 3 "strong buy" or "buy", 9 "hold" and 2 "sell" or "strong sell"

* The average consensus recommendation for the integrated oil & gas peer group is "buy."

* Wall Street's median 12-month price target for Western Midstream Partners LP ( WES ) is $40.00, about 6.4% above its November 3 closing price of $37.45

* The stock recently traded at 10 times the next 12-month earnings vs. a P/E of 12 three months ago

Press Release:

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)