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Westlake Chemical Partners LP reports developments tied to its limited partnership structure and ethylene production assets. Formed by Westlake Corporation, the partnership owns a 22.8% interest in Westlake Chemical OpCo LP, whose assets include ethylene production facilities in Calvert City, Kentucky, and Lake Charles, Louisiana, and an ethylene pipeline.
Recurring updates cover quarterly results, distributable cash flow, cash-flow coverage, unit distributions, annual reporting, facility turnaround effects, and commercial agreements with Westlake. News also addresses the Ethylene Sales Agreement, feedstock arrangements, and the partnership’s role in processing ethane and propane into ethylene for Westlake and other U.S. customers.
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Westlake Chemical Partners (NYSE: WLKP) will announce its first quarter 2023 earnings on May 4, 2023, before market open. A conference call to discuss the results is scheduled for 1:00 p.m. Eastern Time on the same day. Investors can pre-register for the call to receive a unique PIN for audio access. The call will be available for replay via a webcast. Westlake Chemical Partners, based in Houston, operates and develops ethylene production facilities, holding a 22.8% interest in Westlake Chemical OpCo LP, which owns three ethylene production sites in Kentucky and Louisiana. More details on the earnings release will be available on their website.
Westlake Chemical Partners LP (NYSE: WLKP) filed its Annual Report on Form 10-K for the fiscal year ended December 31, 2022, with the Securities and Exchange Commission on March 1, 2023. This report includes complete audited financial statements, available free of charge to unitholders upon request. Westlake Chemical Partners operates and develops ethylene production facilities, owning a 22.8% interest in Westlake Chemical OpCo LP, which has facilities in Calvert City, Kentucky, and Lake Charles, Louisiana, processing ethane and propane into ethylene. More information is available on their website.
Westlake Chemical Partners LP (NYSE: WLKP) reported a net income of $16.8 million, or $0.48 per limited partner unit, for Q4 2022, down from $29.5 million in Q4 2021. This decrease was attributed partly to a lower buyer deficiency fee and increased interest expenses. Cash flows from operating activities rose to $122.6 million, up by $100.7 million year-over-year, driven by higher production. The company declared a quarterly distribution of $0.4714 per unit, marking its 34th consecutive payment. Despite challenges like low ethylene sales margins and high interest rates, management remains optimistic for 2023, supported by stable cash flows from their agreement with Westlake.