secwatch.observer — SEC 8-K summary
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Issuer:     Westlake Chemical Partners LP (WLKP)
CIK:        0001604665
Form:       8-K
Filed at:   2024-02-20T23:59:59+00:00
Accession:  0001604665-24-000003
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1604665/000160466524000003/0001604665-24-000003-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1604665/000160466524000003/wlkp-20240220.htm
  HTML page:      https://secwatch.observer/filing/0001604665-24-000003

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