Equity Profile

WES

Western Midstream Partners, LP

EnergyOil & Gas Storage & Transportation$17.5B

May6Wed

Post-Earnings Recap

ReportedQ1-2026After Close4:07 PM EDT

Western Midstream Partners, LP Beats on EPS, Stock Down 3.55%

Metric	Actual	Expected	Surprise
EPS	$0.85	$0.78	+15.18%
Revenue	—	$1.0B	—

management commentary, guidance changes, and full analysis available with Pro.

Western Midstream Partners, LP Beats on EPS, Stock Down 3.55%

Key Numbers

Metric	Actual	Expected	Surprise
EPS	$0.85	$0.78	+15.18%
Revenue	—	$1.0B	—

Management Commentary

Tone: Unknown

No transcript is on record, and the analysis is based solely on numerical results.

What It Means

Western Midstream Partners reported better-than-expected earnings per share, but the stock fell by 3.55% following the announcement. The decline may reflect investor concerns about revenue performance, as no actual revenue figures were provided. The lack of management commentary and guidance may also contribute to uncertainty among investors.

Company Snapshot

Western Midstream Partners, LP (WES) is a company in the energy sector focused on the storage and transportation of oil and gas. With a market cap of $17 billion, it plays a crucial role in the energy supply chain, which is vital for both domestic and global markets.

Key Metrics to Watch

Earnings Per Share (EPS)

EPS is a key indicator of the company's profitability and financial health, which investors closely monitor.

0.78

Revenue

Revenue figures provide insight into the company's operational performance and market demand for its services.

1.0B

Wall Street expectations, options signals, track record, and call prep available with Pro.

Original Pre-Earnings Preview

Context

Company Snapshot

Earnings Scorecard·Last 8Q

EPS Beat Streak

EPS Beat Rate

63%

Avg EPS Surprise

-4.07%

Avg Stock Reaction

+0.26%

Last Quarter Recap

In Q4-2025, WES reported an EPS of $0.47, significantly missing the estimate of $0.91, which raised concerns about its profitability. The stock reacted positively, gaining 0.39% the following day despite the disappointing earnings.

Management Promises & Guidance

Expectations

Wall Street Expectations

Analysts expect WES to report an EPS of $0.78 and revenue of $1.0 billion for Q1-2026, reflecting cautious optimism after a challenging previous quarter. The market is watching closely for any signs of recovery in profitability.

Bull Case

If WES can exceed the EPS estimate and show strong revenue growth, it could signal a turnaround in profitability and operational efficiency, boosting investor confidence.

Bear Case

Conversely, if WES fails to meet expectations again, it may raise further doubts about its ability to manage costs and generate profits, potentially leading to a decline in stock price.

Key Metrics to Watch

Earnings Per Share (EPS)

0.78

EPS is a key indicator of the company's profitability and financial health, which investors closely monitor.

Revenue

1.0B

Revenue figures provide insight into the company's operational performance and market demand for its services.

Expectations

Two Questions That Matter

The print will turn on these two things.

Will WES achieve an EPS of $0.78 or better this quarter?

This figure is crucial for assessing the company's recovery from last quarter's significant miss and will influence investor sentiment.

What factors contributed to revenue expectations of $1.0 billion?

Understanding the drivers behind revenue will help gauge the company's operational efficiency and market demand.

Edge

What the Street Is Missing

Why consensus could be wrong

The consensus may underestimate the potential for WES to recover quickly, as recent operational adjustments could lead to better-than-expected results.

Supporting Evidence

WES has a history of beating EPS estimates 63% of the time, suggesting potential for a positive surprise.

The options market is pricing a move that is higher than the historical average, indicating that traders expect significant volatility.

The recent positive stock reaction despite a large EPS miss indicates that investors may be looking for signs of recovery.

Key Risk

If WES reports an EPS above $0.80, it could challenge the current bearish sentiment and shift investor expectations.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

The market is debating whether WES can bounce back from its recent earnings miss and improve its profitability.

Bull Confirmed If

An EPS of $0.80 or higher would confirm a strong recovery and operational efficiency.

Bear Confirmed If

An EPS below $0.73 would indicate ongoing struggles and could lead to further declines in investor confidence.

Pre-Earnings Positioning

Options Market

Implied Move

±3.31%

Historical Avg

±1.2%

Pricing rich

The options market is pricing in a relatively modest move of about 3.31% around the earnings report, suggesting uncertainty among investors.

Options are pricing ±3.7% while WES has averaged ±1.2% over the last 8 prints — setup is pricing rich.

Detail

ATM IV

0.3%

30d HV

19.4%

Calls (36K)P/C Ratio: 1.27Puts (18K)

Preparation

Post-Print Playbook

Likely market behavior by outcome — not investment advice.

Beat & Raise

If WES beats expectations, history suggests a potential average move of +0.39% the following day, confirming a positive trend.

In-Line / Cautious

If results are in line with expectations, the stock may see muted movement as investors await further guidance from management.

Miss

A miss could lead to a decline, with historical patterns indicating an average move of +1.10% in the event of disappointing results.

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Any updates on operational efficiencies that could impact profitability.
2Management's commentary on market demand for oil and gas transportation.
3Insights into cost management strategies and their effectiveness.
4Any changes in guidance for future quarters based on current performance.
5Details on capital expenditures and how they align with revenue expectations.

See the full picture

AI-powered briefs, options data, and 20 quarters of history — everything you need before earnings.

No charge today · Auto-bills $8/mo after 7 days · Cancel anytime

More Earnings This Week

5 Reports

May4

GRABReported

Grab Holdings Limited

RecapView

May4

GBDCReported

Company Snapshot

Key Metrics to Watch

Earnings Per Share (EPS)

EPS is a key indicator of the company's profitability and financial health, which investors closely monitor.

0.78

Revenue

Revenue figures provide insight into the company's operational performance and market demand for its services.

1.0B

Wall Street expectations, options signals, track record, and call prep available with Pro.

Original Pre-Earnings Preview

Context

Company Snapshot

Earnings Scorecard·Last 8Q

EPS Beat Streak

EPS Beat Rate

63%

Avg EPS Surprise

-4.07%

Avg Stock Reaction

+0.26%

Last Quarter Recap

Management Promises & Guidance

Expectations

Wall Street Expectations

Bull Case

If WES can exceed the EPS estimate and show strong revenue growth, it could signal a turnaround in profitability and operational efficiency, boosting investor confidence.

Bear Case

Conversely, if WES fails to meet expectations again, it may raise further doubts about its ability to manage costs and generate profits, potentially leading to a decline in stock price.

Key Metrics to Watch

Earnings Per Share (EPS)

0.78

EPS is a key indicator of the company's profitability and financial health, which investors closely monitor.

Revenue

1.0B

Revenue figures provide insight into the company's operational performance and market demand for its services.

Expectations

Two Questions That Matter

The print will turn on these two things.

Will WES achieve an EPS of $0.78 or better this quarter?

This figure is crucial for assessing the company's recovery from last quarter's significant miss and will influence investor sentiment.

What factors contributed to revenue expectations of $1.0 billion?

Understanding the drivers behind revenue will help gauge the company's operational efficiency and market demand.

Edge

What the Street Is Missing

Why consensus could be wrong

The consensus may underestimate the potential for WES to recover quickly, as recent operational adjustments could lead to better-than-expected results.

Supporting Evidence

WES has a history of beating EPS estimates 63% of the time, suggesting potential for a positive surprise.

The options market is pricing a move that is higher than the historical average, indicating that traders expect significant volatility.

The recent positive stock reaction despite a large EPS miss indicates that investors may be looking for signs of recovery.

Key Risk

If WES reports an EPS above $0.80, it could challenge the current bearish sentiment and shift investor expectations.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

The market is debating whether WES can bounce back from its recent earnings miss and improve its profitability.

Bull Confirmed If

An EPS of $0.80 or higher would confirm a strong recovery and operational efficiency.

Bear Confirmed If

An EPS below $0.73 would indicate ongoing struggles and could lead to further declines in investor confidence.

Pre-Earnings Positioning

Options Market

Implied Move

±3.31%

Historical Avg

±1.2%

Pricing rich

The options market is pricing in a relatively modest move of about 3.31% around the earnings report, suggesting uncertainty among investors.

Options are pricing ±3.7% while WES has averaged ±1.2% over the last 8 prints — setup is pricing rich.

Detail

ATM IV

0.3%

30d HV

19.4%

Calls (36K)P/C Ratio: 1.27Puts (18K)

Preparation

Post-Print Playbook

Likely market behavior by outcome — not investment advice.

Beat & Raise

If WES beats expectations, history suggests a potential average move of +0.39% the following day, confirming a positive trend.

In-Line / Cautious

If results are in line with expectations, the stock may see muted movement as investors await further guidance from management.

Miss

A miss could lead to a decline, with historical patterns indicating an average move of +1.10% in the event of disappointing results.

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Any updates on operational efficiencies that could impact profitability.
2Management's commentary on market demand for oil and gas transportation.
3Insights into cost management strategies and their effectiveness.
4Any changes in guidance for future quarters based on current performance.
5Details on capital expenditures and how they align with revenue expectations.