Westlake Chemical Partners LP Announces Second Quarter 2026 Results

About this update from Westlake Corporation

Declared quarterly distribution of $0.4714 per unit; 48th consecutive quarterly distribution HOUSTON, Aug. 04, 2026 (GLOBE NEWSWIRE) -- Westlake Chemical Partners LP (NYSE: WLKP) (the "Partnership") today reported net income attributable to the Partnership in the second quarter of 2026 of $14.2 million, or $0.40 per limited partner unit, which was slightly below second quarter 2025 net income of $14.6 million. Cash flows from operating activities in the second quarter of 2026 were $129.8 million, an increase of $120.7 million compared to second quarter 2025 cash flows from operating activities of $9.1 million, primarily due to higher production and sales volume and lower maintenance capital expenditures as the result of the prior year's Petro 1 turnaround. For the three months ended June 30, 2026, MLP distributable cash flow was $17.6 million, an increase of $2.6 million compared to second quarter 2025 MLP distributable cash flow of $15.0 million. The increase in MLP distributable cash flow and associated trailing twelve-month coverage ratio of 1.04x was primarily due to higher production and sales volume and lower maintenance capital expenditures as a result of the prior year's Petro 1 turnaround. Compared to the first quarter, second quarter 2026 net income attributable to the Partnership was unchanged at $14.2 million. Second quarter 2026 cash flows from operating activities of $129.8 million increased by $19.6 million due to working capital changes. Second quarter 2026 MLP distributable cash flow of $17.6 million decreased by $0.3 million compared to first quarter 2026 MLP distributable cash flow of $17.9 million due to higher maintenance capital expenditures. "We were pleased with the Partnership's performance in the second quarter as we benefited from higher third-party ethylene prices and the continued stability of our cash flows due to the ethylene sales agreement with Westlake," said Jean-Marc Gilson, President and Chief Executive Officer. "Looking forward, we expect to continue to provide strong returns and predictable cash flows to our unitholders." On July 8, 2026, both the Partnership and Westlake Chemical OpCo LP ("OpCo") entered into amendments to their respective senior unsecured revolving credit agreements with Westlake Corporation. These amendments extended the maturity dates of the facilities to July 2031. On August 3, 2026, the Partner...

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