Westlake Chemical Partners Q1 net income $16.2M; declares $0.4714 distribution

Westlake Chemical Partners LP

Net income attributable to Partnership $16.2M ($0.46/unit), up from $15.1M in Q1 2021.
Declared quarterly distribution $0.4714/unit payable May 26, 2022; 31st consecutive distribution.
Cash from operations $104.8M, down $50.6M YoY due to timing of payments from Westlake.
MLP distributable cash flow $19.3M, up $3.1M YoY, driven by higher earnings and reduced turnaround reserves.
Strong ethylene production after Petro 2 turnaround; sales agreement with Westlake provides fixed margin on 95% of output.

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