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Western Midstream (WES) Reports Q3 Earnings: What Key Metrics Have to Say
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For the quarter ended September 2023, Western Midstream (WES - Free Report) reported revenue of $776.01 million, down 7.4% over the same period last year. EPS came in at $0.70, compared to $0.66 in the year-ago quarter.
The reported revenue represents a surprise of +1.08% over the Zacks Consensus Estimate of $767.69 million. With the consensus EPS estimate being $0.64, the EPS surprise was +9.38%.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
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 Attributable to Noncontrolling Interest for Natural Gas Assets per day: 167 millions of cubic feet versus the two-analyst average estimate of 156.74 millions of cubic feet.
Throughput for natural-gas assets per day - Total throughput: 4651 millions of cubic feet compared to the 4440.09 millions of cubic feet average estimate based on two analysts.
Total throughput attributable to WES for natural-gas assets per day: 4484 millions of cubic feet versus 4283.36 millions of cubic feet estimated by two analysts on average.
Throughput for natural-gas assets per day - Delaware Basin: 1674 millions of cubic feet versus the two-analyst average estimate of 1614.74 millions of cubic feet.
Throughput for natural-gas assets per day - DJ Basin: 1331 millions of cubic feet versus 1305.14 millions of cubic feet estimated by two analysts on average.
Throughput for crude-oil and NGLs assets per day - Other: 46 millions of barrels of oil versus the two-analyst average estimate of 37.45 millions of barrels of oil.
Throughput for natural-gas assets per day - Other: 1151 millions of cubic feet versus the two-analyst average estimate of 1063.31 millions of cubic feet.
Throughput for crude-oil and NGLs assets per day - Delaware Basin: 220 millions of barrels of oil compared to the 209.69 millions of barrels of oil average estimate based on two analysts.
Throughput for crude-oil and NGLs assets per day - DJ Basin: 68 millions of barrels of oil versus the two-analyst average estimate of 65.71 millions of barrels of oil.
Throughput for crude-oil and NGLs assets per day - Equity investments: 347 millions of barrels of oil versus the two-analyst average estimate of 335 millions of barrels of oil.
Throughput for natural-gas assets per day - Equity investments: 495 millions of cubic feet versus 456.91 millions of cubic feet estimated by two analysts on average.
Shares of Western Midstream have returned +0.2% over the past month versus the Zacks S&P 500 composite's -2.2% 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 (WES) Reports Q3 Earnings: What Key Metrics Have to Say
For the quarter ended September 2023, Western Midstream (WES - Free Report) reported revenue of $776.01 million, down 7.4% over the same period last year. EPS came in at $0.70, compared to $0.66 in the year-ago quarter.
The reported revenue represents a surprise of +1.08% over the Zacks Consensus Estimate of $767.69 million. With the consensus EPS estimate being $0.64, the EPS surprise was +9.38%.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
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 Attributable to Noncontrolling Interest for Natural Gas Assets per day: 167 millions of cubic feet versus the two-analyst average estimate of 156.74 millions of cubic feet.
- Throughput for natural-gas assets per day - Total throughput: 4651 millions of cubic feet compared to the 4440.09 millions of cubic feet average estimate based on two analysts.
- Total throughput attributable to WES for natural-gas assets per day: 4484 millions of cubic feet versus 4283.36 millions of cubic feet estimated by two analysts on average.
- Throughput for natural-gas assets per day - Delaware Basin: 1674 millions of cubic feet versus the two-analyst average estimate of 1614.74 millions of cubic feet.
- Throughput for natural-gas assets per day - DJ Basin: 1331 millions of cubic feet versus 1305.14 millions of cubic feet estimated by two analysts on average.
- Throughput for crude-oil and NGLs assets per day - Other: 46 millions of barrels of oil versus the two-analyst average estimate of 37.45 millions of barrels of oil.
- Throughput for natural-gas assets per day - Other: 1151 millions of cubic feet versus the two-analyst average estimate of 1063.31 millions of cubic feet.
- Throughput for crude-oil and NGLs assets per day - Delaware Basin: 220 millions of barrels of oil compared to the 209.69 millions of barrels of oil average estimate based on two analysts.
- Throughput for crude-oil and NGLs assets per day - DJ Basin: 68 millions of barrels of oil versus the two-analyst average estimate of 65.71 millions of barrels of oil.
- Throughput for crude-oil and NGLs assets per day - Equity investments: 347 millions of barrels of oil versus the two-analyst average estimate of 335 millions of barrels of oil.
- Throughput for natural-gas assets per day - Equity investments: 495 millions of cubic feet versus 456.91 millions of cubic feet estimated by two analysts on average.
View all Key Company Metrics for Western Midstream here>>>Shares of Western Midstream have returned +0.2% over the past month versus the Zacks S&P 500 composite's -2.2% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.