Filing Flows › Western Midstream Partners, LP (WES) › Q3 2026 › vs Q3 2025
Western Midstream Partners, LP (WES) Q3 2026 vs Q3 2025 (year over year)
Western Midstream Partners, LP's revenue rose $242M (+25%) from $952M in Q3 2025 to $1.2B in Q3 2026. Operating margin 38.6% against 46.4% (-7.7 pts).
Western Midstream Partners, LP, Q3 2026: revenue $1.2B (+25% year over year), operating margin 38.6%, net earnings $332M, operating cash flow $568M. The chart draws each line against Q3 2025, the increases inside each band.
Margins
| Q3 2026 | Q3 2025 | Change | |
|---|---|---|---|
| Operating margin | 38.6% | 46.4% | -7.7 pts |
| Net margin | 27.8% | 35.7% | -7.9 pts |
| Free cash flow margin | 22.2% | 40.5% | -18.3 pts |
Every line
| Line | Q3 2026 | Q3 2025 | Change | % |
|---|---|---|---|---|
| Revenue | $1.2B | $952M | $242M | +25% |
| Operating profit | $462M | $442M | $20.0M | +5% |
| Costs & expenses | $733M | $511M | $222M | +43% |
| Pre-tax earnings | $346M | $351M | −$5.2M | -1% |
| Other expense, net | $116M | $90.6M | $25.2M | +28% |
| Cost of revenue | $122M | $51.2M | $70.5M | +138% |
| General & admin | $87.8M | $64.1M | $23.7M | +37% |
| Other operating costs | $523M | $396M | $128M | +32% |
| Net earnings | $332M | $340M | −$7.7M | -2% |
| Minority interests | $7.1M | $9.3M | −$2.2M | -24% |
| Income tax | $6.8M | $2.1M | $4.7M | +225% |
| Depreciation & amortization | $224M | $170M | $53.5M | +31% |
| Share-based compensation | $12.7M | $10.5M | $2.3M | +22% |
| Working capital & other | $902K | −$49.8M | $50.7M | — |
| Operating cash flow | $568M | $570M | −$2.7M | -0.5% |
| Free cash flow (OCF − capex) | $265M | $385M | −$120M | -31% |
| Capital expenditures | $302M | $185M | $118M | +64% |
Questions
How much did Western Midstream Partners, LP's revenue grow year over year in Q3 2026?
Western Midstream Partners, LP's revenue rose $242M (+25%) from $952M in Q3 2025 to $1.2B in Q3 2026. Operating margin 38.6% against 46.4% (-7.7 pts).