Westlake Chemical Partners Q1 net income $14.9M ($0.42/unit); distribution of $0.4714 declared

Westlake Chemical Partners LP

Net income attributable to Partnership $14.9M ($0.42/unit), down from $16.2M YoY due to higher interest expense.
Cash flows from operations $144.9M, up $40.1M YoY from favorable working capital changes.
MLP distributable cash flow $17.6M, down $1.7M YoY; trailing 12-month coverage ratio 1.12x.
Quarterly distribution declared $0.4714/unit, payable May 26, 2023, 35th consecutive quarterly distribution.
CEO cites strong production volumes and fixed-margin sales agreement with Westlake covering 95% of output.

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 first quarter of 2023 results: net income net income attributable to the Partnership in the first quarter of 2023 of $14.9 million, EPS $0.42 per limited partner unit.

Period: first quarter of 2023
Net income: net income attributable to the Partnership in the first quarter of 2023 of $14.9 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 first quarter of 2023 of $14.9 million, or $0.42 per limited partner unit, a decrease of $1.3 million compared to first quarter 2022 net income of $16.2 million.

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Westlake Chemical Partners LP filing history →

Source: SEC EDGAR

accession 0001604665-23-000015

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