{
  "url": "https://struct.news/briefs/wes-grew-revenue-30-its-cash-story-is-harder-to-read",
  "title": "WES grew revenue 30%. Its cash story is harder to read.",
  "summary": "Accounts receivable rose 33.2% to $938.6 million as Western Midstream’s operating margin slipped to 43.0%.",
  "published_at": "2026-08-05T20:39:35.523770+00:00",
  "publisher": "Struct",
  "usage": "Figures are as reported by the company. Quote with attribution to the source filing.",
  "company": {
    "name": "Western Midstream Partners, LP",
    "ticker": "WES",
    "cik": "1423902",
    "sector": "Energy",
    "industry": "Oil & Gas Midstream"
  },
  "source_filing": {
    "form": "10-Q",
    "filed": "2026-08-05",
    "accession": "0001423902-26-000093",
    "url": "https://www.sec.gov/Archives/edgar/data/1423902/000142390226000093/wes-20260630.htm"
  },
  "comparison_filing": {
    "form": "10-Q",
    "filed": "2025-08-06",
    "url": "https://www.sec.gov/Archives/edgar/data/1423902/000142390225000067/wes-20250630.htm"
  },
  "reported_figures": [
    {
      "group": "The filing in three numbers",
      "label": "Revenue",
      "value": 3841599000,
      "display": "$3.8B",
      "unit": "usd",
      "period": "2025-12-31",
      "detail": null,
      "source": {
        "kind": "sec_filing",
        "label": "Filed company results",
        "form": "10-Q",
        "accession": "0001423902-26-000093",
        "filing_date": "2026-08-05"
      }
    },
    {
      "group": "The filing in three numbers",
      "label": "Revenue YoY",
      "value": 6.588565698649718,
      "display": "+6.6%",
      "unit": "percent",
      "period": "2025-12-31",
      "detail": null,
      "source": {
        "kind": "jodie_calculation",
        "label": "Calculated from filed company results",
        "form": "10-Q",
        "accession": "0001423902-26-000093",
        "filing_date": "2026-08-05"
      }
    },
    {
      "group": "The filing in three numbers",
      "label": "Operating margin",
      "value": 41.685818847828735,
      "display": "+41.7%",
      "unit": "percent",
      "period": "2025-12-31",
      "detail": null,
      "source": {
        "kind": "jodie_calculation",
        "label": "Calculated from filed company results",
        "form": "10-Q",
        "accession": "0001423902-26-000093",
        "filing_date": "2026-08-05"
      }
    }
  ],
  "watch_next": [
    {
      "type": "capital_investment",
      "statement": "Capital expenditures increased by $185.0 million over six months, mainly tied to Pathfinder, Aris, and North Loving Train II.",
      "importance": "medium",
      "evidence": "Capital expenditures increased by $185.0 million for the six months ended June 30, 2026, primarily due to increases of (i) $146.6 million at the DBM water systems related to the Pathfinder pipeline project and the acquisition of Aris",
      "source_date": "2026-08-05"
    }
  ],
  "related_tickers": [
    "WES"
  ],
  "disclaimer": "Descriptive reporting of filed results. Not investment advice, and contains no forecast or recommendation."
}