Western Midstream raises 2026 guidance after record Q2 Adjusted EBITDA of $736.5 million
Western Midstream Partners reported second-quarter 2026 net income attributable to limited partners of $394.9 million, or $0.99 per diluted unit, up from $0.87 a year earlier, and record Adjusted EBITDA of $736.5 million, up 19% from the prior-year period. The partnership raised the midpoints of its full-year 2026 Adjusted EBITDA, Distributable Cash Flow, and Free Cash Flow guidance, citing the Brazos Delaware acquisition and higher commodity prices, which points to higher expected cash generation for unitholders.
Key points
- Q2 2026 total revenues and other were $1.22 billion, compared with $942.3 million in Q2 2025.
- Full-year 2026 Adjusted EBITDA guidance is $2.750 billion to $2.950 billion, a midpoint increase of $250 million, or 10%.
- Distributable Cash Flow guidance is $2.050 billion to $2.250 billion, and Free Cash Flow guidance is $1.100 billion to $1.300 billion.
- The Q2 distribution of $0.930 per unit is unchanged from the prior quarter and is payable August 14, 2026; Q2 Free Cash Flow after distributions was negative $111.0 million.
The filing
Written by AI on Nov 9, 2026, 10:08 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on August 05, 2026.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.