Westlake Chemical Partners Q4 net income $16.8M, down 43% YoY; distribution held at $0.4714/unit

Westlake Chemical Partners LP

Q4 2022 net income attributable to Partnership $16.8M ($0.48/unit) vs $29.5M in Q4 2021, down on lower buyer deficiency fee and higher interest expense.
Full year 2022 net income $64.2M ($1.82/unit) vs $82.5M in 2021, down on lower third-party sales margins and higher interest expense.
MLP distributable cash flow Q4 2022 $20.3M, up from $15.3M in Q4 2021; full year $75.9M vs $70.1M.
Declared Q4 distribution of $0.4714/unit, payable Feb 16, 2023; trailing twelve-month coverage ratio 1.14x (up from 1.07x).
CEO cites resilient cash flows from Westlake sales agreement despite high inflation and low ethylene margins.

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Westlake Chemical Partners LP reported the fourth quarter of 2022 results: net income $16.8 million, EPS $0.48 per limited partner unit.

Period: the fourth quarter of 2022
Net income: $16.8 million
EPS: $0.48 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 fourth quarter of 2022 of $16.8 million, or $0.48 per limited partner unit

View on SEC.gov

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Westlake Chemical Partners LP reported the full year 2022 results: net income $64.2 million, EPS $1.82 per limited partner unit.

Period: the full year 2022
Net income: $64.2 million
EPS: $1.82 per limited partner unit
Result: reported results

Exact text from the filing

For the full year 2022, net income attributable to the Partnership of $64.2 million, or $1.82 per limited partner unit

View on SEC.gov

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Westlake Chemical Partners LP filing history →

Source: SEC EDGAR

accession 0001604665-23-000004

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