What is WES's forecasted revenue?

Western Midstream Partners, Lp is forecasted to generate $4.07B in next-four-quarter revenue, representing +0.5% year-over-year growth.

How accurate is the WES revenue forecast model?

The model has 7.2% training MAPE (Mean Absolute Percentage Error). In a holdout test, it predicted $0.9B versus the actual $1.1B.

Western Midstream Partners, Lp WES

Revenue Intelligence Report • 57 quarters of SEC filing data • Updated 2026-10-14 • Data through 2026-03-31

Western Midstream Partners, Lp's latest quarterly revenue is $1.1B for the period ending 2026-03-31. The model projects $4.1B across the next four quarters (+0.5% versus the preceding four quarters). The forecast uses G&A data; model selection and estimation exclude the latest quarter, whose retrospective holdout error is 18.0%. These are statistical associations, not estimates of the causal effect of spending.

Investment Thesis

The ARDL forecast is based on reported revenue and G&A data through 2026-03-31. Training MAPE measures fit to historical data; the separately reported holdout error measures a withheld quarter. Spending coefficients describe associations and do not establish causation.

Next 4 Quarters

$4.07B

+0.5% YoY

G&A Elasticity

0.24x

Training Fit

7.2% MAPE

Retrospective holdout (Q1 FY2026): The model predicted $919.5M vs the actual $1.12B — an error of 18.0%.
Retrospective one-quarter holdout: model fitting and selection exclude this quarter. Historical inputs use the latest available restatements, so this is not a preserved real-time forecast.

Note: The current filings use G&A (GeneralAndAdministrativeExpense). Spending estimates refer to this expense measure, not separately reported SG&A.

Note: Western Midstream Partners, Lp does not report R&D expenses separately. The model uses the available expense measure without a separate R&D term.

Investor insight: Actual revenue ($1.1B) came in 18% above the spending-based forecast ($0.9B). This suggests that Western Midstream Partners, Lp's recent revenue growth is driven significantly by external demand factors — such as market pricing, product cycle tailwinds, or structural demand shifts — beyond what its R&D and SG&A spending alone would predict.

Revenue Forecast

Quarterly Detail

Quarter	Model Forecast	Actual	95% Range	YoY Growth	Status
Q1 FY2026 Period end 2026-03-31	$919.5M	$1.12B	$758.8M–$1.11B	+0.3%	✗ Outside range
Q2 FY2026 Period end 2026-06-30	$944.6M		$720.0M–$1.24B	+0.3%
Q3 FY2026 Period end 2026-09-30	$927.7M		$665.2M–$1.29B	-2.6%
Q4 FY2026 Period end 2026-12-31	$1.19B		$809.8M–$1.75B	+15.4%
Q1 FY2027 Period end 2027-03-31	$1.01B		$654.3M–$1.54B	-10.4%

Seasonal Factors

Multiplicative seasonal adjustment: These factors capture Western Midstream Partners, Lp's systematic quarterly revenue patterns relative to the trend model. A factor of 1.05 means that quarter typically runs 5% above the underlying trend; 0.95 means 5% below. Factors are computed as the median of (actual / fitted) across all available quarters.

Fiscal Quarter	Seasonal Factor	vs Trend	Interpretation	Obs.
FQ1 (Jan–Mar)	0.9702	-3.0%	In line with trend	13
FQ2 (Apr–Jun)	1.022	+2.2%	In line with trend	13
FQ3 (Jul–Sep)	1.0158	+1.6%	In line with trend	13
FQ4 (Oct–Dec)	1.0298	+3.0%	In line with trend	13

Spending and Revenue

Reading this chart: Each line shows the cumulative revenue association with a 1% change in spending over subsequent quarters. These estimates describe historical associations and do not establish causation.

Time-Varying Spending Associations

Time-varying analysis: A penalized spline model (GAM) tracks the association between log spending and log revenue over 57 quarters. Its coefficients describe conditional historical associations, not causal returns on spending.
Current G&A elasticity: 0.0344x
The model-term chart shows relative absolute term magnitudes. Its percentages are not shares of revenue or causal contributions to growth.

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