Q2 2020 Western Midstream Partners LP Post-Earnings Interview Transcript

Feb 11, 2024

Aug 24, 2020 / NTS GMT
Kristen Shults - Western Midstream Partners, LP - VP of IR & Communications

Thanks for joining us today. My name is Kristen Shults, the Vice President of Investor Relations and Communications here at Western Midstream. With me, I have Michael Ure, our Chief Executive Officer and President.

With Q2 earnings behind us, we thought it'd be helpful to investors to walk through a few of the questions we've received thus far.

So with that, I'd like to turn it over to Michael for his thoughts on the second quarter.

Michael P. Ure - Western Midstream Partners, LP - President, CEO & Director of Western Midstream Holdings LLC

Thanks, Kristen. WES delivered an excellent outperforming second quarter. Adjusted EBITDA of $514 million, free cash flow of $209 million and we reduced our leverage down to 4.2x. Additionally, we increased our EBITDA guidance to $1.85 billion to $1.9 billion, a $100 million increase from the previously issued guidance. And we reduced capital guidance to $400 million to $450 million.

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