Western Midstream Q1 EPS $1.47 Beats $0.81 Estimate, Sales $887.73M Miss $890.65M Estimate
Portfolio Pulse from Benzinga Newsdesk
Western Midstream (NYSE:WES) reported Q1 earnings of $1.47 per share, surpassing the $0.81 estimate, marking an 81.48% beat and a 182.69% increase from last year's $0.52. However, their Q1 sales of $887.73M slightly missed the $890.65M estimate by 0.33%, yet represented a 20.95% increase from the previous year.

May 08, 2024 | 10:23 pm
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POSITIVE IMPACT
Western Midstream reported a significant earnings beat and a slight miss on sales estimates for Q1, with substantial year-over-year growth.
The substantial beat on earnings per share (EPS) expectations is likely to positively impact investor sentiment towards WES in the short term, despite the slight miss on sales estimates. The impressive year-over-year growth in both earnings and sales further underscores the company's strong performance, potentially leading to an increase in stock price as investors react to the positive earnings report.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100