Westlake Chemical Partners is a publicly traded limited partnership that focuses on the production, distribution, and marketing of a broad range of petrochemical and polymer products
The company primarily operates in the chemical and plastics industry, leveraging its strategic assets and operations to provide essential materials used in various applications, including packaging, construction, automotive, and consumer products. Westlake Chemical Partners aims to enhance its long-term growth prospects by forming strategic alliances and maximizing the efficiency of its facilities, ultimately delivering value to its unitholders through sustainable practices and innovation in the chemical sector.
The Board of Directors of Westlake Chemical Partners GP LLC, the general partner of Westlake Chemical Partners LP (the "Partnership") (NYSEWLKP), has declared a distribution of $0.4714 per unit. This is the 42nd quarterly distribution announced by the Partnership since its initial public offering. The distribution will be payable on February 25, 2025, to unit holders of record on February 7, 2025.
Westlake Chemical Partners LP (NYSEWLKP) (the "Partnership") today reported net income attributable to the Partnership in the third quarter of 2024 of $18.1 million, or $0.51 per limited partner unit, an increase of $4.9 million compared to the third quarter 2023 net income of $13.2 million. Cash flows from operating activities in the third quarter of 2024 were $126.1 million, an increase of $25.2 million compared to third quarter 2023 cash flows from operating activities of $100.9 million, due to higher net income. For the three months ended September 30, 2024, MLP distributable cash flow was $17.9 million, an increase of $4.3 million compared to third quarter 2023 MLP distributable cash flow of $13.6 million. The increase in MLP distributable cash flow and associated trailing twelve-month coverage ratio was due to higher net income in addition to lower maintenance capital expenditures.
The Board of Directors of Westlake Chemical Partners GP LLC, the general partner of Westlake Chemical Partners LP (the "Partnership") (NYSEWLKP), has declared a distribution of $0.4714 per unit. This is the 41st quarterly distribution announced by the Partnership since its initial public offering. The distribution will be payable on November 27, 2024, to unit holders of record on November 12, 2024.
Westlake Chemical Partners (NYSEWLKP) will release its third quarter 2024 earnings prior to the market opening on Tuesday, November 5, 2024. 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 (NYSEWLKP) (the "Partnership") today reported net income attributable to the Partnership in the second quarter of 2024 of $14.4 million, or $0.41 per limited partner unit, an increase of $2.5 million compared to the second quarter 2023 net income of $11.9 million. Cash flows from operating activities in the second quarter of 2024 were $121.9 million, an increase of $23.4 million compared to second quarter 2023 cash flows from operating activities of $98.5 million, due to higher net income. For the three months ended June 30, 2024, MLP distributable cash flow was $17.1 million, an increase of $2.1 million compared to second quarter 2023 MLP distributable cash flow of $15.0 million. The increase in MLP distributable cash flow and associated trailing twelve-month coverage ratio was primarily due to higher production and sales volume due to the Calvert City turnaround in the second quarter of 2023.
The Board of Directors of Westlake Chemical Partners GP LLC, the general partner of Westlake Chemical Partners LP (the "Partnership") (NYSEWLKP), has declared a distribution of $0.4714 per unit. This is the 40th quarterly distribution announced by the Partnership since its initial public offering. The distribution will be payable on August 27, 2024, to unit holders of record on August 12, 2024.
Westlake Chemical Partners (NYSEWLKP) will release its second quarter 2024 earnings prior to the market opening on Tuesday, August 6, 2024. 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 GP LLC, the general partner of Westlake Chemical Partners LP (NYSEWLKP), today announced that Jean-Marc Gilson, who most recently served as President and Chief Executive Officer of Mitsubishi Chemical Group Corporation, has been appointed to serve as President and Chief Executive Officer and to the Board of Directors of Westlake Chemical Partners GP LLC (the “Board”). Jean-Marc Gilson succeeds Albert Chao who will transition to become Executive Chairman of the Board and James Chao, the current Chairman of the Board, will become Senior Chairman of the Board. These appointments take effect today.
Westlake Chemical Partners LP (NYSEWLKP) (the "Partnership") today reported net income attributable to the Partnership in the first quarter of 2024 of $14.8 million, or $0.42 per limited partner unit, which was in-line with first quarter 2023 net income of $14.9 million. Cash flows from operating activities in the first quarter of 2024 were $104.6 million, a decrease of $40.3 million compared to first quarter 2023 cash flows from operating activities of $144.9 million, due to less favorable working capital changes. For the three months ended March 31, 2024, MLP distributable cash flow was $16.9 million, a decrease of $0.7 million compared to first quarter 2023 MLP distributable cash flow of $17.6 million. The decrease in MLP distributable cash flow and associated trailing twelve-month coverage ratio was primarily due to lower production and sales volume.
The Board of Directors of Westlake Chemical Partners GP LLC, the general partner of Westlake Chemical Partners LP (the "Partnership") (NYSEWLKP), has declared a distribution of $0.4714 per unit. This is the 39th quarterly distribution announced by the Partnership since its initial public offering. The distribution will be payable on May 29, 2024, to unit holders of record on May 13, 2024.
Westlake Chemical Partners (NYSEWLKP) will release its first quarter 2024 earnings prior to the market opening on Wednesday, May 1, 2024. 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 (the “Partnership”) (NYSEWLKP) today provided an update on the availability of the Partnership’s 2023 Investor Tax Packages including Schedule K-1 for its common unitholders.
Westlake Chemical Partners LP (NYSEWLKP) (the "Partnership") announced that it filed its Annual Report on Form 10-K for the fiscal year ended December 31, 2023 with the Securities and Exchange Commission on February 28, 2024. A copy of this 10-K may be found on the Partnership's website, www.wlkpartners.com, by selecting the "Investor Relations" tab, then "SEC Filings."
Westlake Chemical Partners LP (the “Partnership”) (NYSEWLKP) today provided an update on the expected availability of the Partnership’s 2023 Investor Tax Packages including Schedule K-1 for its common unitholders.
Wall Street opens weaker due to decline in tech stocks, Nasdaq falls by 1.5%. Investors await FOMC minutes and Nvidia earnings. Walmart and Discover Inc. report strong earnings, Expeditors Int'l and Westlake Chemical Partners LP experience declines.
