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 (WLKP) is a key player in ethylene production and chemical processing, operating critical facilities across the United States. This page serves as the definitive source for official company announcements, financial updates, and strategic developments impacting the petrochemical sector.
Investors and industry professionals will find timely updates on earnings reports, facility expansions, operational milestones, and partnerships. Our curated collection includes press releases on ethylene production innovations, co-product utilization, and market positioning within the competitive chemical landscape.
Key coverage areas include quarterly financial results, infrastructure investments, environmental initiatives, and supply chain developments. All content is verified through primary sources to ensure accuracy and relevance for decision-makers.
Bookmark this page to monitor WLKP's progress in optimizing ethane-to-ethylene conversion processes and maintaining its role as a vital contributor to industrial chemical supply chains.
Westlake Chemical Partners LP (NYSE: WLKP) reported a record net income of $25.1 million for Q2 2021, a significant increase from $14.9 million in Q2 2020. This rise was driven by higher production and a buyer deficiency fee totaling $8.7 million. Operating cash flows rose to $131.7 million, up by $18.9 million year-over-year. MLP distributable cash flow also increased, reaching $25.5 million.
For the first half of 2021, net income was $40.2 million, up from $32.6 million the previous year. The company announced a quarterly distribution of $0.4714 per unit, marking its 28th consecutive distribution.
The Board of Directors of Westlake Chemical Partners GP has announced a distribution of $0.4714 per unit for Westlake Chemical Partners LP (NYSE:WLKP). This marks the 28th consecutive quarterly distribution since the Partnership's IPO. The distribution is set for August 26, 2021, with record holders cut-off on August 12, 2021. The release serves as a qualified notice under Treasury regulations, indicating that distributions to non-U.S. investors will face federal income tax withholding at the highest applicable rates.
Westlake Chemical Partners (NYSE: WLKP) will announce its second quarter earnings for 2021 on August 3, 2021, prior to market opening. A conference call is scheduled for 1:00 p.m. ET to discuss the results. Investors can join the call by dialing (855) 765-5686, and it will also be available via webcast. A replay will be accessible for seven days following the call. Westlake Chemical Partners focuses on operating and developing ethylene production facilities, owning a 22.8% interest in Westlake Chemical OpCo LP.
Westlake Chemical Partners LP (NYSE: WLKP) reported a net income of $15.1 million ($0.43 per unit) for Q1 2021, down from $17.7 million in Q1 2020, primarily due to a severe winter storm's impact on ethylene production. Cash flows from operating activities rose to $155.4 million, driven by the recovery of the 2020 Buyer Deficiency Payment. MLP distributable cash flow decreased to $16.2 million. The company has declared a quarterly distribution of $0.4714 per unit, marking its 27th consecutive distribution to unitholders.
The Board of Directors of Westlake Chemical Partners GP LLC has declared a distribution of $0.4714 per unit for the Partnership (NYSE:WLKP), marking the 27th consecutive quarterly distribution since its IPO. This distribution is scheduled for payment on May 27, 2021, to unit holders recorded by May 13, 2021. Notably, non-U.S. investors will face federal income tax withholding at the highest applicable rate due to regulations concerning income effectively connected with U.S. trade or business.
Westlake Chemical Partners (WLKP) is set to release its Q1 2021 earnings on May 4, 2021, before the market opens. A conference call will follow at 1:00 PM ET, accessible via phone or webcast. Participants can call (855) 765-5686 or, for international calls, (234) 386-2848, using passcode 3327838. A replay of the call will be available for seven days post-event. The partnership, a subsidiary of Westlake Chemical Corporation, holds a 22.8% interest in Westlake Chemical OpCo LP, which operates three ethylene production facilities in Kentucky and Louisiana.
Westlake Chemical Partners LP (NYSE: WLKP) has filed its Annual Report on Form 10-K for the year ended December 31, 2020, with the SEC on March 2, 2021. This report details the Partnership's financial performance and operations. Unitholders can request a hard copy, including audited financial statements, at no cost. The Partnership, formed by Westlake Chemical Corporation, focuses on managing ethylene production facilities and holds a 22.8% interest in Westlake Chemical OpCo LP, which operates facilities in Kentucky and Louisiana.
Westlake Chemical Partners LP (WLKP) reported a net income of $66.2 million for 2020, marking a $5.2 million increase from 2019. However, hurricanes Laura and Delta severely impacted operations, leading to force majeure declarations, which resulted in $41.3 million and $28.3 million in fixed margin payments in Q3 and Q4. Q4 net income dropped to $15.0 million from $17.4 million in 2019 due to lower sales volumes and increased maintenance costs. Despite challenges, WLKP maintained stable cash flows and announced a quarterly distribution of $0.4714 per unit, reflecting consistent returns to unitholders.
Westlake Chemical Partners (NYSE: WLKP) will announce its fourth quarter and full year 2020 earnings on February 23, 2021, before the market opens. A conference call to discuss the results will take place at 12:00 p.m. ET on the same day. Participants can join the call by dialing (855) 765-5686 or via international line (234) 386-2848. The call will also be available as a webcast, with the earnings release accessible on the company's investor page. A replay of the conference call will be available for seven days post-event.
The Board of Directors of Westlake Chemical Partners GP LLC has announced a quarterly distribution of $0.4714 per unit, marking the 26th consecutive quarterly distribution since the Partnership's IPO. This distribution will be payable on February 19, 2021, to unit holders of record as of February 4, 2021. Additionally, 100% of the Partnership’s distributions to non-U.S. investors will be subject to federal income tax withholding at the highest applicable rate.
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