Westlake Chemical Partners Q3 net income up 16% to $14.8M; declares $0.4714 distribution

Westlake Chemical Partners LP

Net income attributable to Partnership $14.8M ($0.42/unit) vs $12.8M in Q3 2021, up 16%.
Declared Q3 distribution $0.4714/unit payable Nov 28 to holders of record Nov 10; 33rd consecutive.
Cash from ops $115.5M, up $16M YoY; MLP distributable cash flow $16.7M, coverage ratio 1.07x trailing twelve months.
Received $13.9M buyer deficiency fee from Westlake due to volatile downstream demand lowering planned offtake.
CEO cites ratable sales agreement with Westlake providing fixed margin on 95% of production, optimistic for 2023.

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Westlake Chemical Partners LP reported the third quarter of 2022 results: net income $14.8 million, EPS $0.42 per limited partner unit.

Period: the third quarter of 2022
Net income: $14.8 million
EPS: $0.42 per limited partner unit
Result: reported results

Exact text from the filing

Westlake Chemical Partners LP (NYSE: WLKP) (the "Partnership") today reported net income attributable to the Partnership in the third quarter of 2022 of $14.8 million, or $0.42 per limited partner unit, an increase of $2.0 million compared to third quarter 2021 of $12.8 million.

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Westlake Chemical Partners LP filing history →

Source: SEC EDGAR

accession 0001604665-22-000033

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