Westlake Chemical Partners Q2 net income $16.4M, down 35% YoY; distribution steady at $0.4714

Westlake Chemical Partners LP

Net income attributable to Partnership $16.4M ($0.47/unit) vs $25.1M in Q2 2021, primarily due to prior-year buyer deficiency fee.
Declared Q2 distribution of $0.4714/unit, payable Aug 25, 2022 to holders of record Aug 11 (32nd consecutive quarterly distribution).
MLP distributable cash flow $19.6M, down from $25.5M in Q2 2021; trailing twelve-month coverage 1.01x.
Amended credit agreements extend maturity to July 2027 and replace LIBOR with SOFR plus revised spreads.

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