Welcome to our dedicated page for Westlake Chem Partners Lp news (Ticker: WLKP), a resource for investors and traders seeking the latest updates and insights on Westlake Chem Partners Lp stock.
Westlake Chemical Partners LP (NYSE: WLKP) is a limited partnership in the U.S. chemical industry, formed by Westlake Corporation to operate, acquire and develop ethylene production facilities and related assets. Headquartered in Houston, the partnership’s news flow centers on its ethylene operations, commercial agreements with Westlake and its record of quarterly cash distributions to unitholders.
News updates for WLKP commonly cover quarterly earnings results, including net income attributable to the partnership, MLP distributable cash flow, coverage ratios and EBITDA. Earnings releases often discuss the performance of Westlake Chemical OpCo LP, the impact of planned maintenance turnarounds at ethylene facilities and the stability provided by the Ethylene Sales Agreement with Westlake, under which 95% of OpCo’s ethylene production is sold using a fixed cash margin formula.
Investors following WLKP news will also see announcements of quarterly distribution declarations. The partnership has highlighted more than forty consecutive quarterly distributions since its initial public offering, and distribution press releases typically include details on per-unit amounts, payment dates and record dates, as well as tax treatment information for non-U.S. investors.
Another key category of WLKP news involves contract renewals and governance arrangements with Westlake. For example, the partnership has announced renewals of the Ethylene Sales Agreement and Feedstock Supply Agreement through specified dates, along with amendments to the Services and Secondment Agreement and the Omnibus Agreement. These items are often accompanied by management commentary on predictable cash flows and the operational performance of OpCo’s ethylene facilities.
For readers tracking WLKP, this news stream provides insight into ethylene production trends, plant turnarounds, distribution practices and the evolving commercial relationship between Westlake Chemical Partners and Westlake Corporation.
Westlake Chemical Partners LP (NYSE: WLKP) reported net income of $16.2 million or $0.46 per unit for Q1 2022, a $1.1 million increase from Q1 2021. This growth stemmed from robust production volumes and solid margins on third-party sales. However, cash flows from operations decreased to $104.8 million due to payment timing. The partnership also declared a quarterly distribution of $0.4714 per unit, marking the 31st consecutive distribution. MLP distributable cash flow increased to $19.3 million, providing a coverage ratio of 1.10x for declared distributions.
The Board of Directors of Westlake Chemical Partners LP has declared a quarterly distribution of
Westlake Chemical Partners (NYSE: WLKP) will release its first quarter 2022 earnings on May 3, 2022, before the market opens. A conference call to discuss the earnings will take place at 1:00 p.m. Eastern Time. Interested parties can access the call by dialing (855) 765-5686 or via webcast at this link. The company, which holds a 22.8% interest in Westlake Chemical OpCo LP, operates multiple ethylene production facilities in the U.S.
Westlake Chemical Partners LP (NYSE: WLKP) filed its Annual Report on Form 10-K for the fiscal year ending December 31, 2021, with the Securities and Exchange Commission on March 2, 2022. Unitholders can request a hard copy of the report, which includes audited financial statements, at no charge. Westlake Chemical Partners operates ethylene production facilities, holding a 22.8% stake in Westlake Chemical OpCo LP, which has assets in Kentucky and Louisiana. More details can be found on their website.
Westlake Chemical Partners L.P. (NYSE:WLKP) announced that its 2021 tax packages, including Schedule K-1s, are now available online. Unit holders can access their K-1s on the K-1 Tax Package Support website at www.taxpackagesupport.com/wlkp. The partnership plans to begin mailing K-1s by mid-March. First-time users will need to register for online access. For further assistance, unitholders can contact K-1 Tax Package Support at (888) 826-8318 during weekdays from 8 a.m. to 5 p.m. CT.
Westlake Chemical Partners LP (NYSE: WLKP) declared a quarterly distribution of $0.4714 per unit, marking the 30th consecutive quarterly distribution. The Partnership reported record net income of $29.5 million for Q4 2021, a significant increase from $15 million in Q4 2020. Full-year net income reached $82.5 million, up from $66.2 million in 2020. The cash flows from operating activities for the full year were $408.4 million, reflecting a $35 million increase year-over-year. The Partnership's long-term Ethylene Sales Agreement with Westlake supports stable cash flows, despite operational challenges in 2021.
Westlake Chemical Partners (NYSE: WLKP) is set to release its fourth quarter and full-year earnings for 2021 on February 22, 2022, before the market opens. A conference call will follow at 1:00 p.m. Eastern Time to discuss results. Interested parties can join by calling (855) 765-5686 or accessing the webcast here. The partnership operates ethylene production facilities and holds a 22.8% stake in Westlake Chemical OpCo LP, which has facilities in Kentucky and Louisiana.
The Board of Directors of Westlake Chemical Partners LP has declared a quarterly distribution of $0.4714 per unit, marking the 30th such distribution since the Partnership's IPO. This distribution is set to be payable on February 17, 2022, to unit holders of record as of February 3, 2022. Notably, the Partnership is subject to federal income tax withholding for non-U.S. investors at the highest applicable rate. Westlake Chemical Partners operates ethylene production facilities and holds a 22.8% interest in Westlake Chemical OpCo LP.
Westlake Chemical Partners LP (NYSE: WLKP) announced a quarterly distribution of $0.4714 per unit, marking the 29th consecutive distribution. In Q3 2021, net income decreased to $12.8 million, down from $18.5 million in Q3 2020, primarily due to reduced sales and planned production outages. Cash flows from operating activities dropped to $99.5 million, down $17.7 million year-over-year. The Partnership reports a trailing twelve-month MLP distributable cash flow coverage of 1.06x. The CEO expressed confidence in future cash flows and market demand for their products.
The Board of Directors of Westlake Chemical Partners GP LLC has declared a distribution of $0.4714 per unit, payable on November 29, 2021, to unit holders of record as of November 12, 2021. This marks the 29th consecutive quarterly distribution since the Partnership's IPO. Non-U.S. investors should note that distributions are subject to federal income tax withholding. Westlake Chemical Partners, headquartered in Houston, holds a 22.8% interest in Westlake Chemical OpCo LP, which operates multiple ethylene production facilities.