Quarterly ResultMay 5, 2026, 07:37 AM
Westlake Chemical Partners Q1 Net Income $14.2M; EPS $0.40
AI Summary
Westlake Chemical Partners LP reported strong first quarter 2026 results, with net income attributable to the Partnership increasing to $14.2 million, or $0.40 per limited partner unit, significantly up from $4.9 million, or $0.14 per unit, in Q1 2025. Cash flows from operating activities and MLP distributable cash flow also saw substantial year-over-year increases, driven by higher production and sales volume following the prior year's Petro 1 turnaround. The Partnership declared its 47th consecutive quarterly distribution of $0.4714 per unit and achieved a coverage ratio of 1.08x for the quarter, benefiting from accelerated global demand for North American chemicals and polymers.
Key Highlights
- Net income attributable to the Partnership was $14.2 million, up from $4.9 million in Q1 2025.
- Net income per limited partner unit was $0.40, compared to $0.14 in Q1 2025.
- Cash flows from operating activities increased to $110.2 million from $45.8 million in Q1 2025.
- MLP distributable cash flow rose to $17.9 million, up from $4.7 million in Q1 2025.
- Declared a quarterly distribution of $0.4714 per unit, marking the 47th consecutive distribution.
- The first quarter 2026 coverage ratio was 1.08x, improving from 0.82x at the end of Q4 2025.
- Total net sales for Q1 2026 were $305.7 million, up from $237.6 million in Q1 2025.
- EBITDA for Q1 2026 was $121.2 million, compared to $75.0 million in Q1 2025.