secwatch.observer — SEC 8-K summary
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Issuer:     Westlake Chemical Partners LP (WLKP)
CIK:        0001604665
Form:       8-K
Filed at:   2023-08-03T23:59:59+00:00
Accession:  0001604665-23-000023
Event type: earnings
Sentiment:  negative
Materiality: 0.65
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Westlake Chemical Partners Q2 net income $11.9M ($0.34/unit) down 27% YoY; distribution unchanged
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- Net income $11.9M ($0.34/unit), down 27% YoY from $16.4M; driven by Calvert City turnaround and higher interest expense.
- Cash from ops $98.5M, down $22.4M YoY; MLP distributable cash flow $15.0M, down $4.6M.
- Dividend $0.4714/unit, payable Aug 25, record Aug 11; 36th consecutive quarterly distribution; trailing coverage 1.05x.
- Calvert City turnaround completed on schedule in Q2; management expects distributable cash flow improvement in H2 2023.
- Ethylene sales agreement with Westlake provides fixed $0.10/lb cash margin on 95% of production, supporting predictable cash flows.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1604665/000160466523000023/0001604665-23-000023-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1604665/000160466523000023/wlkp-20230803.htm
  HTML page:      https://secwatch.observer/filing/0001604665-23-000023

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