Westlake Chemical Partners Q4 net income down 15% YoY; coverage ratio falls to 0.94x

Westlake Chemical Partners LP

Q4 2023 net income $14.3M ($0.41/unit) vs $16.8M in Q4 2022; full year $54.3M vs $64.2M.
Full year MLP distributable cash flow $62.6M, down 17.5% from $75.9M in 2022.
Trailing twelve-month distribution coverage ratio declined to 0.94x from 1.00x at Q3 2023.
CEO expects coverage ratio to dip below 1.00x in 2024 due to Petro 1 turnaround and low ethylene margins.
Declared quarterly distribution of $0.4714/unit, 38th consecutive distribution.

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.85

Westlake Chemical Partners LP reported fourth quarter and full year 2023 results: net income net income attributable to the Partnership in the fourth quarter of 2023 of $14.3 million, or $0.41 per limited partner.

Period: fourth quarter and full year 2023
Net income: net income attributable to the Partnership in the fourth quarter of 2023 of $14.3 million, or $0.41 per limited partner
Result: reported results

Exact text from the filing

On February 20, 2024 , Westlake Chemical Partners LP (the "Partnership") issued a press release announcing its 2023 fourth quarter and full year results.

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Westlake Chemical Partners LP filing history →

Source: SEC EDGAR

accession 0001604665-24-000003

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