Westlake Chemical Partners Q2 net income $14.4M ($0.41/unit); distribution declared

Westlake Chemical Partners LP

Net income $14.4M ($0.41/unit) up from $11.9M YoY; operating cash flow $121.9M, +$23.4M.
MLP distributable cash flow $17.1M, +$2.1M YoY; trailing 12-month coverage ratio 0.96x.
Declared Q2 distribution $0.4714/unit, payable Aug 27, record Aug 12 – 40th consecutive quarterly distribution.
Jean-Marc Gilson appointed President & CEO of general partner, succeeds Albert Chao as Executive Chairman.
Planned Petro 1 ethylene unit turnaround in later Q3; temporary impact on earnings and cash flows expected.

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