Westlake Chemical Partners Q3 net income down 31% to $12.8M; distribution steady at $0.4714/unit

Westlake Chemical Partners LP

Net income attributable to Partnership was $12.8M ($0.36/unit), down from $18.5M in Q3 2020.
Cash flows from operations $99.5M vs $117.2M a year ago; MLP distributable cash flow $13.0M vs $21.2M.
Declared quarterly distribution of $0.4714 per unit, payable Nov 29 to holders of record Nov 12 (29th consecutive).
Results impacted by planned turnaround of Petro 2 facility and prior-year buyer deficiency fee from hurricanes.
CEO cites strong downstream demand for ethylene in construction and packaging; expects restart of Petro 2 in December.

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