Western Midstream Partners, Lp · NYSE:WES
Western Midstream Partners, Lp — Q1 2019 Earnings Presentation
9 slides from Western Midstream Partners, Lp's earnings presentation, Apr 30, 2019
Slide 1: First-Quarter 2019 Review
NYSE: WES westernmidstream.com INVESTOR RELAT IONS JACK SPINKS Manager, Investor Relations 832 636 3738 FIRST-QUARTER 2019 REVIEW April 30, 2019
Slide 2: Cautionary Language Regarding Forward Looking Statements
Cautionary Language Regarding Forward Looking Statements This presentation contains forward-looking statements. Western Midstream Partners, LP (“WES”) believes that its expectations are based on reasonable assumptions. No assurance, however, can be given that such expectations will prove to have bee
Slide 3: 1Q19 vs 4Q18 Financial Performance
1Q19 vs 4Q18 Financial Performance ($ in Millions) 1Q19 4Q18 Adjusted EBITDA1,2 $428.3 $457.3 Total Capital Expenditures3 $437.9 $396.0 Maintenance Capital Expenditures $35.7 $39.3 Distributable Cash Flow1 $340.2 $318.2 Coverage Ratio1 1.23x NM4 Note: 1Q19 and 4Q18 (recasted) information include the
Slide 4: 1Q19 vs 4Q18 Operational Performance
1Q19 vs 4Q18 Operational Performance 1Q19 4Q18 Ke y D r i ve r s Natural Gas Throughput Delaware and DJ Basin growth, (Bcf/d) 4.20 4.00 partially offset by Marcellus Adjusted Gross Margin for Natural Gas Assets ($/Mcf) $1.09 $1.07 Crude, NGL & Produced Water Throughput (MMBbls/d) 1.10 1.00 Delaware
Slide 5: Appendices
Appendices www.westernmidstream.com | NYSE: WES 5
Slide 6: WES Non-GAAP Reconciliation: Adjusted EBITDA
WES Non-GAAP Reconciliation “Adjusted EBITDA” WES defines Adjusted EBITDA attributable to Western Midstream Partners, LP (“Adjusted EBITDA”) as net income (loss), plus distributions from equity investments, non-cash equity-based compensation expense, interest expense, income tax expense, depreciatio
Slide 7: WES Non-GAAP Reconciliation: Adjusted EBITDA
WES Non-GAAP Reconciliation “Adjusted EBITDA” WES defines Adjusted EBITDA attributable to Western Midstream Partners, LP (“Adjusted EBITDA”) as net income (loss), plus distributions from equity investments, non-cash equity-based compensation expense, interest expense, income tax expense, depreciatio
Slide 8: WES Non-GAAP Reconciliation: Distributable Cash Flow
WES Non-GAAP Reconciliation “Distributable Cash Flow” WES defines Distributable cash flow as Adjusted EBITDA, plus interest income and the net settlement amounts from the sale and/or purchase of natural gas, condensate and NGLs under WES Operating’s commodity price swap agreements to the extent such
Slide 9: WES Non-GAAP Reconciliation: Adjusted Gross Margin
WES Non-GAAP Reconciliation “Adjusted Gross Margin” WES defines Adjusted gross margin attributable to Western Midstream Partners, LP (“Adjusted gross margin”) as total revenues and other (less reimbursements for electricity-related expenses recorded as revenue), less cost of product, plus distributi
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