Articles from Westlake Chemical Partners LP

HOUSTON, July 21, 2026 (GLOBE NEWSWIRE) -- Westlake Chemical Partners (NYSE: WLKP) will release its second quarter 2026 earnings prior to the market opening on Tuesday, August 4, 2026. The company will host a conference call at 1:00 p.m. Eastern Time (12:00 p.m. Central Time) on the same day to discuss the earnings release.

Westlake Chemical Partners LP (NYSE: WLKP) (the "Partnership") today reported net income attributable to the Partnership in the second quarter of 2022 of $16.4 million, or $0.47 per limited partner unit, a decrease of $8.7 million compared to second quarter 2021 of $25.1 million. The Partnership's performance for the second quarter of 2022 was the result of solid operational performance across all ethylene units as well as positive margins on third party sales. The second quarter of 2021 benefited from an $8.7 million buyer deficiency fee as well as recovery of certain other costs from Westlake Corporation ("Westlake") attributable to an unplanned outage that occurred in the first half of 2021. The difference in net income for the second quarter of 2022 as compared to the second quarter of 2021 was primarily due to the recognition of the buyer deficiency fee during the prior-year period and lower margins on third party ethylene sales as a result of higher feedstock and fuel costs. Cash flows from operating activities in the second quarter of 2022 were $120.9 million, a decrease of $10.8 million compared to second quarter 2021 cash flows from operating activities of $131.7 million. The decrease in cash flows from operating activities was due to lower net income. For the three months ended June 30, 2022, MLP distributable cash flow was $19.6 million, a decrease of $5.9 million compared to second quarter 2021 MLP distributable cash flow of $25.5 million. The decrease in MLP distributable cash flow was primarily attributable to the buyer deficiency fee and higher margins on third party ethylene sales during the second quarter of 2021, partially offset by higher production volumes and lower operating costs in the second quarter of 2022.

The Board of Directors of Westlake Chemical Partners GP LLC, the general partner of Westlake Chemical Partners LP (the "Partnership") (NYSE:WLKP), has declared a distribution of $0.4714 per unit. This is the 32nd quarterly distribution announced by the Partnership since its initial public offering. The distribution will be payable on August 25, 2022, to unit holders of record on August 11, 2022.

Westlake Chemical Partners LP (NYSE: WLKP) (the "Partnership") today reported net income attributable to the Partnership in the first quarter of 2022 of $16.2 million, or $0.46 per limited partner unit, an increase of $1.1 million compared to first quarter 2021 net income of $15.1 million. The Partnership's net income in the first quarter of 2022 was the result of strong production volumes and solid margins on third-party sales. The first quarter of 2021 was impacted by Winter storm Uri and benefited from a $9.7 million buyer deficiency fee as well as recovery of certain other costs from Westlake Corporation ("Westlake") attributable to a related unplanned outage. Cash flows from operating activities in the first quarter of 2022 were $104.8 million, a decrease of $50.6 million compared to first quarter 2021 cash flows from operating activities of $155.4 million. The decrease was due to the timing of payments from Westlake related to the 2021 buyer deficiency and turnaround costs. For the three months ended March 31, 2022, MLP distributable cash flow was $19.3 million, an increase of $3.1 million compared to first quarter 2021 MLP distributable cash flow. The increase in MLP distributable cash flow was primarily attributable to the higher earnings at OpCo as well as reduced contributions to turnaround reserves.

The Board of Directors of Westlake Chemical Partners GP LLC, the general partner of Westlake Chemical Partners LP (the "Partnership") (NYSE:WLKP), has declared a distribution of $0.4714 per unit. This is the 31st quarterly distribution announced by the Partnership since its initial public offering. The distribution will be payable on May 26, 2022, to unit holders of record on May 12, 2022.

Westlake Chemical Partners LP (NYSE: WLKP) (the "Partnership") today reported record net income attributable to the Partnership in the fourth quarter of 2021 of $29.5 million, or $0.84 per limited partner unit, an increase of $14.5 million compared to fourth quarter 2020 net income of $15.0 million. The Partnership's net income in the fourth quarter of 2021 benefited from a buyer deficiency fee as well as recovery of certain other costs from Westlake Corporation ("Westlake") attributable to an unplanned outage. Cash flows from operating activities in the fourth quarter of 2021 were $21.9 million, a decrease of $10.6 million compared to fourth quarter 2020 cash flows from operating activities of $32.5 million. This decrease in cash flows from operating activities was primarily due to the buyer deficiency fee and recovery of certain costs from Westlake that will be paid in 2022. For the three months ended December 31, 2021, MLP distributable cash flow of $15.3 million was comparable to fourth quarter 2020 MLP distributable cash flow.

The Board of Directors of Westlake Chemical Partners GP LLC, the general partner of Westlake Chemical Partners LP (the "Partnership") (NYSE:WLKP), has declared a distribution of $0.4714 per unit. This is the 30th quarterly distribution announced by the Partnership since its initial public offering. The distribution will be payable on February 17, 2022, to unit holders of record on February 3, 2022.

Westlake Chemical Partners LP (NYSE: WLKP) (the "Partnership") today reported net income attributable to the Partnership in the third quarter of 2021 of $12.8 million, or $0.36 per limited partner unit, a decrease of $5.7 million compared to third quarter 2020 net income attributable to the Partnership of $18.5 million. The decrease in net income was a result of reduced sales to Westlake attributable to a buyer deficiency fee from Westlake Chemical Corporation (“Westlake Chemical”) that was recognized in the third quarter of 2020 in connection with Hurricanes Laura and Delta as well as the commencement of the planned turnaround of Westlake Chemical OpCo LP's ("OpCo") Petro 2 facility and associated planned production outage for the turnaround of Petro 2. Cash flows from operating activities in the third quarter of 2021 were $99.5 million, a decrease of $17.7 million compared to third quarter 2020 cash flows from operating activities of $117.2 million. This decrease in cash flows from operating activities was primarily due to lower earnings. For the three months ended September 30, 2021, MLP distributable cash flow of $13.0 million decreased by $8.2 million from third quarter 2020 MLP distributable cash flow of $21.2 million. The decrease in operating cash flows and MLP distributable cash flow was primarily attributable to lower earnings at OpCo and higher maintenance costs.

The Board of Directors of Westlake Chemical Partners GP LLC, the general partner of Westlake Chemical Partners LP (the "Partnership") (NYSE:WLKP), has declared a distribution by the Partnership of $0.4714 per unit. This is the 29th consecutive quarterly distribution announced by the Partnership since its initial public offering. The distribution will be payable on November 29, 2021, to unit holders of record on November 12, 2021.

Westlake Chemical Partners LP (NYSE: WLKP) (the "Partnership") today reported record net income attributable to the Partnership in the second quarter of 2021 of $25.1 million, or $0.71 per limited partner unit, an increase of $10.2 million compared to second quarter 2020 net income attributable to the Partnership of $14.9 million. The increase in net income was a result of higher production, higher earnings on third-party sales as well as a buyer deficiency fee. The buyer deficiency fee of $8.7 million is a result of lower planned production in 2021 attributable to the impacts of the winter storm which occurred in the first quarter and an outage at Westlake Chemical OpCo LP ("OpCo") Petro 1 facility, which occurred on June 25, 2021. Cash flows from operating activities in the second quarter of 2021 were $131.7 million, an increase of $18.9 million compared to second quarter 2020 cash flows from operating activities of $112.8 million. For the three months ended June 30, 2021, MLP distributable cash flow of $25.5 million increased by $8.6 million from second quarter 2020 MLP distributable cash flow of $16.9 million. The increase in MLP distributable cash flow was primarily attributable to the higher production and resulting higher earnings at OpCo, partially offset by increased maintenance costs and turnaround reserves.

Westlake Chemical Partners LP (NYSE: WLKP) (the "Partnership") today reported net income attributable to the Partnership of $15.1 million, or $0.43 per limited partner unit, for the three months ended March 31, 2021. Ethylene production in the first quarter was impacted by a severe winter storm. As a result of the storm, Westlake Chemical OpCo LP ("OpCo") declared force majeure under OpCo's Ethylene Sales Agreement with Westlake Chemical Corporation ("Westlake Chemical"). Under this agreement, Westlake Chemical is obligated to purchase a defined amount of ethylene from OpCo each calendar year at cost plus a fixed price per pound. As a result of this agreement, net income in the first quarter of 2021 included a $9.7 million benefit related to a 2021 buyer deficiency as well as recovery of certain other costs to which OpCo is entitled for ethylene that OpCo would have produced, as a result of the force majeure events.

The Board of Directors of Westlake Chemical Partners GP LLC, the general partner of Westlake Chemical Partners LP (the "Partnership") (NYSE:WLKP), has declared a distribution by the Partnership of $0.4714 per unit. This is the 27th consecutive quarterly distribution announced by the Partnership since its initial public offering. The distribution will be payable on May 27, 2021, to unit holders of record on May 13, 2021.