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Westlake Chemical Partners reports Q1 EPS 42c, consensus 45c

Reports Q1 revenue $284.67M vs. $307.68M. “Our Q1 of 2024 results were consistent with our performance in recent quarters due in large part to the stability provided by our ethylene supply agreement with Westlake. During Q1, OpCo’s ethylene units ran well and third-party ethylene margins improved modestly due to lower feedstock and energy costs, which allowed us to opportunistically increase our third-party sales volume,” said CEO Albert Chao. “We are constructive on our outlook for the remainder of 2024 as demand from downstream ethylene derivative products is relatively stable and feedstock and energy costs remain at levels supporting third-party ethylene margin improvement.”

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