WESTLAKE CHEMICAL PARTNERS LP - WLKP STOCK NEWS

Westlake Chemical Partners LP (NYSE: WLKP) reported a net income of $16.8 million, or $0.48 per limited partner unit, for Q4 2022, down from $29.5 million in Q4 2021. This decrease was attributed partly to a lower buyer deficiency fee and increased interest expenses. Cash flows from operating activities rose to $122.6 million, up by $100.7 million year-over-year, driven by higher production. The company declared a quarterly distribution of $0.4714 per unit, marking its 34th consecutive payment. Despite challenges like low ethylene sales margins and high interest rates, management remains optimistic for 2023, supported by stable cash flows from their agreement with Westlake.

Westlake Chemical Partners (NYSE: WLKP) announced its fourth quarter and full year 2022 earnings release scheduled for February 21, 2023, before market opening. The company will host a conference call at 1:00 PM ET to discuss the results. Interested participants must pre-register to obtain the phone number and unique PIN for the call. The earnings release will be accessible on their official website. Westlake Chemical Partners operates, acquires, and develops ethylene production facilities, owning a 22.8% interest in Westlake Chemical OpCo LP.

The Board of Directors of Westlake Chemical Partners GP LLC has declared a quarterly distribution of $0.4714 per unit, payable on February 16, 2023, to unit holders on record as of February 2, 2023. This marks the 34th quarterly distribution since the Partnership's IPO. Non-U.S. investors should note that the distributions are subject to federal income tax withholding at the highest rate, as they are considered as effectively connected income with a U.S. trade or business.

Westlake Chemical Partners operates ethylene production facilities and owns a 22.8% interest in Westlake Chemical OpCo LP, which has assets in Kentucky and Louisiana.

Westlake Chemical Partners LP (NYSE: WLKP) declared a quarterly distribution of $0.4714 per unit, marking its 33rd consecutive distribution. In Q3 2022, the Partnership reported a net income of $14.8 million, up from $12.8 million in Q3 2021. However, Q3 income decreased from $16.4 million in Q2 2022 due to lower production and third-party revenues. Cash flow from operations rose to $115.5 million, while MLP distributable cash flow increased to $16.7 million. The sales agreement with Westlake ensures stable cash flows, with 95% of production sold at fixed margins.

Westlake Chemical Partners GP LLC has declared a distribution of $0.4714 per unit, marking the 33rd quarterly distribution since its IPO. This distribution will be payable on November 28, 2022, to unit holders of record on November 10, 2022. The distribution is subject to federal income tax withholding for non-U.S. investors. Westlake Chemical Partners LP operates ethylene production facilities and owns a 22.8% interest in Westlake Chemical OpCo LP, which includes facilities in Kentucky and Louisiana.

Westlake Chemical Partners (NYSE: WLKP) is set to announce its third quarter 2022 earnings on November 3, 2022, before the market opens. The company will host a conference call at 1:00 p.m. Eastern Time to discuss earnings results. Interested participants must pre-register to access the call. Westlake Chemical Partners specializes in the operation and development of ethylene production facilities, holding a 22.8% interest in Westlake Chemical OpCo LP, which operates three production facilities in Kentucky and Louisiana.

Westlake Chemical Partners (NYSE: WLKP) has released information regarding the 2021 investor tax reporting, noting that a new Schedule K-3 will be used to report items of international tax relevance. This is particularly important for foreign unitholders and those with U.S. international reporting obligations. The Partnership affirms that all income is effectively connected to a U.S. trade or business. The Schedule K-3 for tax year 2021 is now available online and is recommended for review by unitholders for tax return completion.

Westlake Chemical Partners LP (NYSE: WLKP) declared a quarterly distribution of $0.4714 per unit, marking its 32nd consecutive distribution. For Q2 2022, net income was $16.4 million, a decrease of $8.7 million from Q2 2021. Cash flows from operating activities also fell to $120.9 million, down $10.8 million year-over-year. MLP distributable cash flow was $19.6 million, a decrease from $25.5 million in Q2 2021. Despite these declines, the partnership maintains strong production volumes and a stable sales agreement with Westlake, ensuring predictable cash flows and solid returns for unitholders.