Opening its latest reports…Reading every line of the four statements…Putting it into plain words…
Opening its latest reports…Reading every line of the four statements…Putting it into plain words…
WESWestern Midstream Partners, LP
Every company that sells shares in the US files four statements with the SEC. Together they show whether Western Midstream Partners, LP made money, what it owns and owes, where its cash went, and what changed for its shareholders. Below is every line exactly as Western Midstream Partners, LP filed it, with what each one means in plain English.
As filed with the SEC on Feb 18, 2026 · the full report · SEC's figures viewer
Income statement · also called the statement of operations, statement of earnings or profit and loss
Read it from the top down. It starts with everything customers paid (sales), takes away the cost of making what was sold, then the costs of running the company, then interest and tax. What is left at the bottom is profit (net income), the part that belongs to shareholders. It covers a stretch of time: a year, or a quarter.
Out of every $100 of sales
| Line (tap for what it means) | 12 months to Dec 31, 2025 | 12 months to Dec 31, 2024 | 12 months to Dec 31, 2023 |
|---|---|---|---|
| Revenues and other | |||
| $3.8B▲ 6.6% | $3.6B | $3.1B | |
| $85.8M▼ 24% | $112.4M | $153.0M | |
| Operating expenses | |||
| $207.0M▲ 20% | $172.3M | $164.6M | |
| $915.9M▲ 4.0% | $880.6M | $762.5M | |
| $398.9M▲ 47% | $271.5M | $232.6M | |
| $69.3M▲ 11% | $62.7M | $56.5M | |
| $710.8M▲ 9.3% | $650.4M | $600.7M | |
| $14.8M▲ 138% | $6.2M | $52.9M | |
| $2.3B▲ 13% | $2.0B | $1.9B | |
| −$11.1M | $296.8M | −$10.1M | |
| $1.6B▼ 19% | $2.0B | $1.4B | |
| −$390.5M▼ 3.2% | −$378.5M | −$348.2M | |
| $0▼ 100% | $5.4M | $15.4M | |
| $16.6M▼ 48% | $31.7M | $5.7M | |
| $1.2B▼ 25% | $1.6B | $1.1B | |
| $15.1M▼ 17% | $18.1M | $4.4M | |
| $1.2B▼ 25% | $1.6B | $1.0B | |
| $31.5M▼ 16% | $37.7M | $25.8M | |
| $1.2B▼ 25% | $1.6B | $1.0B | |
| Limited partners' interest in net income (loss) | |||
| $1.2B▼ 25% | $1.6B | $1.0B | |
| −$26.5M▲ 28% | −$36.6M | −$23.7M | |
| $1.2B▼ 25% | $1.5B | $998.5M | |
| $3.0K▼ 26% | $4.0K | $2.6K | |
| $3.0K▼ 26% | $4.0K | $2.6K | |
| $386.1M▲ 1.5% | $380.4M | $383.0M | |
| $387.9M▲ 1.4% | $382.5M | $384.4M | |
| Service Revenues - Fee Based | |||
|---|---|---|---|
| Sales (Total revenues and other) | $3.5B | $3.2B | $2.8B |
| Service Revenues - Product Based | |||
| Sales (Total revenues and other) | $193.9M | $215.8M | $191.7M |
| Product Sales | |||
| Sales (Total revenues and other) | $194.7M | $140.1M | $145.0M |
| Other | |||
| Sales (Total revenues and other) | $1.8M | $1.1M | $968.0K |
Every line as the company filed it (USD ($), shares in Thousands, $ in Thousands), shown in full dollars. See this statement on SEC.