Welcome to our dedicated page for WESTLAKE CHEMICAL PARTNERS LP news (Ticker: WLKP), a resource for investors and traders seeking the latest updates and insights on WESTLAKE CHEMICAL PARTNERS LP stock.
Westlake Chemical Partners LP (symbol: WLKP) is a prominent entity within the U.S. chemical industry, primarily engaged in the production and sale of ethylene and its co-products. The company operates through its subsidiary, OpCo, which focuses on the acquisition and development of ethylene production facilities. These facilities are strategically located in Calvert City, Kentucky, and Lake Charles, Louisiana. Ethylene is a vital component used in the manufacture of a variety of products, including plastics, chemicals, and fibers.
OpCo converts ethane into ethylene and sells it along with other valuable co-products such as propylene, crude butadiene, pyrolysis gasoline, and hydrogen to Westlake and various customers across the United States. This integrated production and sales approach highlights the company's strategic role in the chemical supply chain, catering to a diverse range of industrial needs.
Westlake Chemical Partners LP has been proactive in maintaining and enhancing its production capabilities. The company continually invests in its facilities to ensure optimal operation and efficiency. This focus on operational excellence is accompanied by a commitment to safety, environmental stewardship, and sustainable growth.
Financially, Westlake Chemical Partners LP is committed to delivering value to its unitholders. The company leverages its stable cash flow and strong market position to support its financial health. Regular dividends are a testament to the company’s robust financial performance and strategic management.
Westlake Chemical Partners LP’s recent achievements include the expansion of production capacities and strategic partnerships aimed at leveraging market opportunities. By continually upgrading its asset base and exploring new avenues for growth, WLKP remains well-positioned in the competitive chemical industry.
For the latest updates and detailed information about Westlake Chemical Partners LP, stay tuned to this page for company news and performance insights.
Westlake Chemical Partners LP (NYSE: WLKP) announced a quarterly distribution of $0.4714 per unit, marking the 29th consecutive distribution. In Q3 2021, net income decreased to $12.8 million, down from $18.5 million in Q3 2020, primarily due to reduced sales and planned production outages. Cash flows from operating activities dropped to $99.5 million, down $17.7 million year-over-year. The Partnership reports a trailing twelve-month MLP distributable cash flow coverage of 1.06x. The CEO expressed confidence in future cash flows and market demand for their products.
The Board of Directors of Westlake Chemical Partners GP LLC has declared a distribution of $0.4714 per unit, payable on November 29, 2021, to unit holders of record as of November 12, 2021. This marks the 29th consecutive quarterly distribution since the Partnership's IPO. Non-U.S. investors should note that distributions are subject to federal income tax withholding. Westlake Chemical Partners, headquartered in Houston, holds a 22.8% interest in Westlake Chemical OpCo LP, which operates multiple ethylene production facilities.
Westlake Chemical Partners (NYSE: WLKP) is set to release its third quarter earnings for 2021 on Tuesday, November 2, 2021, before the market opens. A conference call will follow at 12:00 p.m. ET to discuss the earnings. Interested participants can join the call by dialing (855) 765-5686, or via webcast. Westlake Chemical Partners, headquartered in Houston, holds a 22.8% interest in Westlake Chemical OpCo LP, which operates multiple ethylene production facilities.
Westlake Chemical Partners LP (NYSE: WLKP) reported a record net income of $25.1 million for Q2 2021, a significant increase from $14.9 million in Q2 2020. This rise was driven by higher production and a buyer deficiency fee totaling $8.7 million. Operating cash flows rose to $131.7 million, up by $18.9 million year-over-year. MLP distributable cash flow also increased, reaching $25.5 million.
For the first half of 2021, net income was $40.2 million, up from $32.6 million the previous year. The company announced a quarterly distribution of $0.4714 per unit, marking its 28th consecutive distribution.
The Board of Directors of Westlake Chemical Partners GP has announced a distribution of $0.4714 per unit for Westlake Chemical Partners LP (NYSE:WLKP). This marks the 28th consecutive quarterly distribution since the Partnership's IPO. The distribution is set for August 26, 2021, with record holders cut-off on August 12, 2021. The release serves as a qualified notice under Treasury regulations, indicating that distributions to non-U.S. investors will face federal income tax withholding at the highest applicable rates.
Westlake Chemical Partners (NYSE: WLKP) will announce its second quarter earnings for 2021 on August 3, 2021, prior to market opening. A conference call is scheduled for 1:00 p.m. ET to discuss the results. Investors can join the call by dialing (855) 765-5686, and it will also be available via webcast. A replay will be accessible for seven days following the call. Westlake Chemical Partners focuses on operating and developing ethylene production facilities, owning a 22.8% interest in Westlake Chemical OpCo LP.
Westlake Chemical Partners LP (NYSE: WLKP) reported a net income of $15.1 million ($0.43 per unit) for Q1 2021, down from $17.7 million in Q1 2020, primarily due to a severe winter storm's impact on ethylene production. Cash flows from operating activities rose to $155.4 million, driven by the recovery of the 2020 Buyer Deficiency Payment. MLP distributable cash flow decreased to $16.2 million. The company has declared a quarterly distribution of $0.4714 per unit, marking its 27th consecutive distribution to unitholders.
The Board of Directors of Westlake Chemical Partners GP LLC has declared a distribution of $0.4714 per unit for the Partnership (NYSE:WLKP), marking the 27th consecutive quarterly distribution since its IPO. This distribution is scheduled for payment on May 27, 2021, to unit holders recorded by May 13, 2021. Notably, non-U.S. investors will face federal income tax withholding at the highest applicable rate due to regulations concerning income effectively connected with U.S. trade or business.
Westlake Chemical Partners (WLKP) is set to release its Q1 2021 earnings on May 4, 2021, before the market opens. A conference call will follow at 1:00 PM ET, accessible via phone or webcast. Participants can call (855) 765-5686 or, for international calls, (234) 386-2848, using passcode 3327838. A replay of the call will be available for seven days post-event. The partnership, a subsidiary of Westlake Chemical Corporation, holds a 22.8% interest in Westlake Chemical OpCo LP, which operates three ethylene production facilities in Kentucky and Louisiana.
Westlake Chemical Partners LP (NYSE: WLKP) has filed its Annual Report on Form 10-K for the year ended December 31, 2020, with the SEC on March 2, 2021. This report details the Partnership's financial performance and operations. Unitholders can request a hard copy, including audited financial statements, at no cost. The Partnership, formed by Westlake Chemical Corporation, focuses on managing ethylene production facilities and holds a 22.8% interest in Westlake Chemical OpCo LP, which operates facilities in Kentucky and Louisiana.
FAQ
What is the current stock price of WESTLAKE CHEMICAL PARTNERS LP (WLKP)?
What is the market cap of WESTLAKE CHEMICAL PARTNERS LP (WLKP)?
What is Westlake Chemical Partners LP?
What are the primary products of Westlake Chemical Partners LP?
Where are Westlake Chemical Partners LP's production facilities located?
Who are the customers of Westlake Chemical Partners LP?
How does Westlake Chemical Partners LP ensure operational efficiency?
What financial strategies does Westlake Chemical Partners LP employ?
What recent achievements has Westlake Chemical Partners LP made?
Why is ethylene important?
How can I stay updated on the latest news about Westlake Chemical Partners LP?
What is OpCo's role in Westlake Chemical Partners LP?
