Filing Flows › Western Midstream Partners, LP (WES) › Q3 2026
Western Midstream Partners, LP (WES) Q3 2026 earnings results (third quarter 2026)
10-Q filed Nov 4, 2026
Western Midstream Partners, LP (WES) reported revenue of $1.2B for the third quarter 2026 (Q3 2026), +25% from a year earlier. Operating margin was 38.6%, net earnings $332M (27.8% of revenue).
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 follows the revenue to costs, profit and cash.
| Q3 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $1.2B | — | +25% |
| Operating profit | $462M | — | +5% |
| Net earnings | $332M | — | -2% |
| Operating cash flow | $568M | — | -0.5% |
| Free cash flow | $265M | — | -31% |
What changed
Revenue was $1.2B in Q3 2026, up 25% year over year.
Operating profit was $0.46B, a 38.6% margin (down 7.7 points year over year). Of the extra revenue versus a year earlier, 8% reached operating profit, below the 46% margin then. Total costs grew 43% against revenue growth of 25%. The fastest-growing cost line was Cost of revenue (+138%). Net earnings were $0.33B, down 2% year over year. The effective tax rate was 2.0%.
Operating cash flow was $0.57B (roughly flat year over year), 167% of net income including minority interests. Non-cash charges added back $0.22B of depreciation and amortization and $0.01B of share-based compensation. Capital expenditures of $0.30B left free cash flow of $0.27B.
Questions
What was Western Midstream Partners, LP's revenue in the third quarter 2026?
Western Midstream Partners, LP (WES) reported revenue of $1.2B for the third quarter 2026 (Q3 2026), +25% from a year earlier.
Was Western Midstream Partners, LP profitable in the third quarter 2026?
Operating profit was $462M (38.6% of revenue) and net earnings $332M.