secwatch.observer — SEC 8-K summary
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Issuer:     Westlake Chemical Partners LP (WLKP)
CIK:        0001604665
Form:       8-K
Filed at:   2023-11-02T23:59:59+00:00
Accession:  0001604665-23-000030
Event type: earnings
Sentiment:  neutral
Materiality: 0.55
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Westlake Chemical Partners Q3 net income $13.2M ($0.37/unit) vs $14.8M YoY; declares $0.4714 distribution
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- Net income attributable to Partnership was $13.2M ($0.37/unit) in Q3 2023, down from $14.8M in Q3 2022 due to higher interest expense.
- Cash from operations decreased to $100.9M from $115.5M YoY; MLP distributable cash flow was $13.6M, down $3.1M YoY.
- Quarterly distribution declared at $0.4714 per unit, payable Nov 27, 2023, marking 37th consecutive quarterly distribution.
- Trailing twelve-month distribution coverage ratio was 1.00x; CEO expects coverage to recover after turnaround activity.
- Ethylene sales agreement provides fixed margin of $0.10/lb on 95% of production, supporting stable cash flows.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1604665/000160466523000030/0001604665-23-000030-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1604665/000160466523000030/wlkp-20231102.htm
  HTML page:      https://secwatch.observer/filing/0001604665-23-000030

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