secwatch.observer — SEC 8-K summary
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Issuer:     Westlake Chemical Partners LP (WLKP)
CIK:        0001604665
Form:       8-K
Filed at:   2023-02-21T23:59:59+00:00
Accession:  0001604665-23-000004
Event type: earnings
Sentiment:  neutral
Materiality: 0.65
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1604665/000160466523000004/0001604665-23-000004-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1604665/000160466523000004/wlkp-20230221.htm
  HTML page:      https://secwatch.observer/filing/0001604665-23-000004

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