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Westlake Chemical Partners LP (WLKP)
NYSE:WLKP
Earnings Data
Report Date
May 05, 2026Before Open (Confirmed)
Period Ending
2026 (Q1)Consensus EPS Forecast
―Last Year’s EPS
0.14Same Quarter Last Year
Based on 0 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Neutral
The call conveyed a balanced picture: operational stability and contract-backed predictable cash flows enabled Westlake Partners to maintain distributions and solid leverage metrics, and Q4 distributable cash flow improved versus prior-year quarter. However, a planned turnaround in 2025 materially reduced full-year net income and MLP distributable cash flow (both down ~21%), leaving a full-year coverage ratio of 0.8x and causing drawdowns of turnaround-related investment balances. Management highlighted no planned turnarounds in 2026 and a renewed sales agreement through 2027, expecting a recovery in cash flow and coverage, but near-term metrics show meaningful year-over-year declines.Company Guidance
Consistent Distributions and Long Track Record
46 consecutive quarterly distributions since IPO (July 2014) with distributions grown 71% from the original minimum quarterly distribution; quarterly distribution declared of $0.4714 per unit and paid on February 23, 2026.
Stable, Fee-Based Business Model and Contract Renewal
Fixed margin ethylene sales agreement covers 95% of annual plant production, providing predictable earnings and stable cash flows; OpCo renewed its ethylene sales agreement with Westlake through 2027 with no changes to terms.
Quarterly Distributable Cash Flow Improved
Fourth quarter 2025 distributable cash flow was $19 million ($0.53 per unit), up $4 million (approximately +26.7%) versus fourth quarter 2024 distributable cash flow of $15 million, driven primarily by lower maintenance capital expenditures due to timing shifts.
Strong Leverage Metrics and Cash/Investments
Consolidated leverage ratio remained below 1x; consolidated cash balance and cash investments with Westlake totaled $68 million at quarter end; operating surplus was approximately $74 million.
Consolidated Earnings and Sales
Consolidated net income including OpCo was $84 million in Q4 on consolidated net sales of $323 million; full year consolidated net income including OpCo was $299 million for 2025.
No Planned Turnarounds in 2026
Management expects no planned turnarounds in 2026, which should support higher production and sales volumes and drive a recovery in distributable cash flow and the coverage ratio to historical levels.
WLKP Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
WLKP Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
Feb 24, 2026 | $21.24 | $22.08 | +3.95% |
Oct 30, 2025 | $18.07 | $18.07 | 0.00% |
Aug 05, 2025 | $20.35 | $20.54 | +0.96% |
May 02, 2025 | $21.77 | $21.28 | -2.23% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does Westlake Chemical Partners LP (WLKP) report earnings?
Westlake Chemical Partners LP (WLKP) is schdueled to report earning on May 05, 2026, Before Open (Confirmed).
What is Westlake Chemical Partners LP (WLKP) earnings time?
Westlake Chemical Partners LP (WLKP) earnings time is at May 05, 2026, Before Open (Confirmed).
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is WLKP EPS forecast?
Currently, no data Available