Feb. 19 at 2:38 PM
$WES The primary reason for the miss was
$29.5 million in unfavorable non-cash revenue adjustments tied to cost-of-service rate agreements. This impacted reported earnings but did not reflect underlying operational issues.
The miss is notable in scale for the quarter but not overly significant in the broader context.
WES achieved record full-year 2025 adjusted EBITDA of
$2.481 billion and free cash flow of
$1.526 billion, both exceeding the high end of guidance.
