WESTERN MIDSTREAM PARTNERS LP Reports 15.8% Year-on-Year Revenue Decrease for Q2 2023
August 10, 2023
🌥️Earnings Overview
For the quarter ending June 30 2023, WESTERN MIDSTREAM PARTNERS LP ($NYSE:WES) reported total revenue of USD 738.3 million, a decrease of 15.8% from the corresponding quarter in FY2022. Net income for the same quarter was USD 252.9 million, a decrease of 17.4% compared to the same period last year.
Analysis
GoodWhale conducted an in-depth analysis of WESTERN MIDSTREAM PARTNERS LP’s wellbeing to identify any risks that may be associated with investing in the company. GoodWhale’s Risk Rating puts WESTERN MIDSTREAM PARTNERS LP at medium risk in terms of financial and business aspects. On top of the medium risk rating, GoodWhale’s analysis detected two risk warnings in the company’s income and balance sheets. These warnings indicate potential issues that should be taken into account when considering investing in WESTERN MIDSTREAM PARTNERS LP. To read more about this analysis, register with GoodWhale to access our full report. More…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for WES. More…
| Total Revenues | Net Income | Net Margin |
| 3.09k | 1.03k | 33.1% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for WES. More…
| Operations | Investing | Financing |
| 1.75k | -377.96 | -1.26k |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for WES. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 11.22k | 8.2k | 7.51 |
Key Ratios Snapshot
Some of the financial key ratios for WES are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 2.9% | 2.1% | 45.7% |
| FCF Margin | ROE | ROA |
| 36.3% | 30.2% | 7.9% |
Peers
The general partner is Anadarko Petroleum Corporation. The partnership owns, operates, develops and acquires midstream energy assets in the United States. The assets include natural gas gathering systems, natural gas processing plants, natural gas liquids (NGL) fractionation facilities, olefins production facilities, pipelines and natural gas and NGL storage facilities.
– Kinder Morgan Inc ($NYSE:KMI)
Kinder Morgan Inc is a leading energy infrastructure company in North America. They own an interest in or operate approximately 84,000 miles of pipelines and 157 terminals. Their pipelines transport natural gas, refined petroleum products, crude oil, and CO2. Terminals handle and store products such as petroleum, chemicals, ethanol, and coal. Kinder Morgan Inc’s market cap as of 2022 is 39.38B. Their ROE is 7.82%.
– Williams Companies Inc ($NYSE:WMB)
The Williams Companies, Inc. is an energy infrastructure company based in Tulsa, Oklahoma. It is engaged in natural gas processing and transportation, as well as oil and gas exploration and production. The company owns and operates a large network of natural gas pipelines, storage facilities, and processing plants in the United States. Williams also has a minority interest in a natural gas pipeline in Canada. The company was founded in 1908 and has a workforce of approximately 4,000 employees.
– Pembina Pipeline Corp ($TSX:PPL)
Pembina Pipeline Corporation is a leading transportation and midstream service provider that has been serving North America’s energy industry for over 65 years. Pembina owns and operates an integrated system of pipelines that transport crude oil, natural gas and natural gas liquids (NGLs). Pembina also owns and operates gas gathering and processing facilities and an NGL extraction business. With facilities strategically located in western Canada and in natural gas liquids-rich basins in the United States, Pembina delivers its services to customers where they need it most.
Summary
Investing in WESTERN MIDSTREAM PARTNERS LP (WES) is not looking particularly attractive right now, as the company has reported a 15.8% year-on-year decrease in total revenue for the quarter ending June 30 2023, and a 17.4% decline in net income for the same period. This has led to a steady decline in WES stock prices, making it an unfavorable investment option. Nonetheless, investors should keep an eye on any changes in the company’s financials and performance in the future, as it could be a good opportunity to buy in at a lower price.
Related Posts
Recent Posts
