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Compared to Estimates, Western Midstream (WES) Q2 Earnings: A Look at Key Metrics

Western Midstream (WES) reported $1.22 billion in revenue for the quarter ended June 2026, representing a year-over-year increase of 30%. EPS of $0.99 for the same period compares to $0.87 a year ago.

The reported revenue represents a surprise of +8.34% over the Zacks Consensus Estimate of $1.13 billion. With the consensus EPS estimate being $0.90, the EPS surprise was +10%.

While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.

Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.

Here is how Western Midstream performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:

Throughput for natural-gas assets per day - Throughput attributable to noncontrolling interests: 175 millions of cubic feet per day versus 182.7 millions of cubic feet per day estimated by two analysts on average.
Throughput for natural-gas assets per day - Total throughput attributable to WES for natural-gas assets: 5518 millions of cubic feet per day versus the two-analyst average estimate of 5308.38 millions of cubic feet per day.
Total throughput attributable to WES for natural-gas assets per day: 5343 millions of cubic feet per day compared to the 5125.67 millions of cubic feet per day average estimate based on two analysts.
Throughput for natural-gas assets per day - Equity Investment: 494 millions of cubic feet per day compared to the 467.79 millions of cubic feet per day average estimate based on two analysts.
Throughput for natural-gas assets per day - Operated - Delaware Basin: 2140 millions of cubic feet per day versus 2066.93 millions of cubic feet per day estimated by two analysts on average.
Throughput for natural-gas assets per day - Operated - DJ Basin: 1547 millions of cubic feet per day versus the two-analyst average estimate of 1448.78 millions of cubic feet per day.
Throughput for produced-water assets per day: 2,993.00 KBbls/D compared to the 2,901.01 KBbls/D average estimate based on two analysts.
Throughput for crude-oil and NGLs assets per day - Operated - Delaware Basin: 265 millions of barrels of oil per day versus the two-analyst average estimate of 267.64 millions of barrels of oil per day.
Throughput for crude-oil and NGLs assets per day - Operated - DJ Basin: 94 millions of barrels of oil per day versus the two-analyst average estimate of 94.44 millions of barrels of oil per day.
Throughput for crude-oil and NGLs assets per day - Non-operated - Equity investments: 108 millions of barrels of oil per day versus the two-analyst average estimate of 100.6 millions of barrels of oil per day.
Throughput for crude-oil and NGLs assets per day - Operated - Other: 39 millions of barrels of oil per day versus the two-analyst average estimate of 33.73 millions of barrels of oil per day.
Throughput for produced-water assets per day - Operated - Delaware Basin: 2993 millions of barrels of oil per day compared to the 2901.01 millions of barrels of oil per day average estimate based on two analysts.

View all Key Company Metrics for Western Midstream here>>>

Shares of Western Midstream have returned +4.7% over the past month versus the Zacks S&P 500 composite's +2.3% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.

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Western Midstream Partners, LP (WES): Free Stock Analysis Report

This article originally published on Zacks Investment Research (zacks.com).

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