Westlake Chemical Partners LP (WLKP)
NYSE:WLKP
Want to see WLKP full AI Analyst Report?
Earnings Data
Report Date
Aug 04, 2026Before Open (Confirmed)
Period Ending
2026 (Q2)Consensus EPS Forecast
0.41Last Year’s EPS
0.41Same Quarter Last Year
Based on 0 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call presents a cautiously positive tone: year‑over‑year improvements in net income and distributable cash flow, a restored coverage ratio to 1.0x, continued consecutive distributions with cumulative stability, and a strong balance sheet and leverage metrics. Offsetting factors include only modest sequential earnings changes driven by lower volumes, limited upside due to a predominantly fixed‑margin contract (95% of volumes), some year‑over‑year softness in third‑party sales on a revenue basis, and geopolitical risks that create both opportunity and volatility. Management highlighted opportunistic third‑party sales and no planned 2026 turnarounds, supporting a constructive near‑term outlook.Company Guidance
Net Income and Consolidated Results
Westlake Partners reported first quarter 2026 net income of $14 million ( $0.40 per unit ) and consolidated net income including OpCo of $82 million on consolidated net sales of $306 million.
Strong Distributable Cash Flow Improvement Year-over-Year
Distributable cash flow (DCF) was $18 million ( $0.51 per unit ), an increase of $13 million versus Q1 2025 (from $5 million to $18 million, roughly +260%), driven by higher production/sales volumes and lower maintenance capex after last year's Petro 1 turnaround.
Improved Coverage Ratio and Operating Surplus
Trailing 12-month distribution coverage ratio improved to 1.0x from 0.8x sequentially; operating surplus improved by $1 million and coverage moved above 1.0x in the quarter.
Consistent Distribution Track Record and Growth
Declared quarterly distribution of $0.4714 per unit for Q1 2026; this marks 47 consecutive quarterly distributions since the IPO and distributions have grown 71% since the Partnership's original minimum quarterly distribution of $0.275 per unit.
Strong Balance Sheet and Conservative Leverage
Consolidated cash and cash investments with Westlake totaled $81 million; long-term debt was $400 million ( $377M at the Partnership, $23M at OpCo ); consolidated leverage ratio remained approximately 1.0x.
Operational Stability and No Planned Turnarounds
Solid operating rates at OpCo ethylene facilities, no planned turnarounds in 2026 for modeling purposes, and OpCo capex of $6 million in Q1 due to lower maintenance needs following last year's turnaround.
Market Opportunity from Supply Disruption
Global supply disruptions from the Middle East conflict have increased demand and prices for North American ethylene; management opportunistically sold more third-party ethylene volumes in March, capturing improved margins on the roughly 5% of production typically sold to third parties.
Leadership Transition Planned and Managed
CFO transition announced: Jon Baksht to join as CFO on June 15; incumbent CFO Steve Bender will transition to Special Adviser, supporting continuity through the transition.
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 |
|---|---|---|---|
May 05, 2026 | $22.22 | $22.12 | -0.44% |
Feb 24, 2026 | $20.82 | $21.64 | +3.95% |
Oct 30, 2025 | $17.71 | $17.71 | 0.00% |
Aug 05, 2025 | $19.94 | $20.13 | +0.96% |
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 Aug 04, 2026, Before Open (Confirmed).
What is Westlake Chemical Partners LP (WLKP) earnings time?
Westlake Chemical Partners LP (WLKP) earnings time is at Aug 04, 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?
WLKP EPS forecast for the fiscal quarter 2026 (Q2) is 0.41.