Western Midstream Partners (WES) Falls Behind Estimates in Q4 2025

Core Viewpoint - Western Midstream Partners, LP (NYSE:WES) experienced a significant decline in share price due to disappointing Q4 2025 results, missing both earnings and revenue forecasts. Financial Performance - The company reported an adjusted EPS of $0.48, falling short of the expected $0.80 [2] - Revenue for Q4 2025 was just over $1 billion, missing consensus by $18 million, despite a year-over-year growth of 11% [2] - Full-year adjusted EBITDA for 2025 reached a record $2.481 billion, exceeding guidance and indicating a year-over-year increase of 6% [3] - Free cash flow for the year grew by 15% year-over-year to $1.526 billion, surpassing the high end of its guidance range [3] Future Guidance - The company targets adjusted EBITDA for FY 2026 to be between $2.5 billion and $2.7 billion, reflecting a year-over-year growth of 5% [4] - Capital expenditures (CapEx) for FY 2026 are expected to be between $850 million and $1 billion, reduced from a previous estimate of at least $1.1 billion [4]