Westlake Chemical Partners LP Earnings Recaps
Q1 2026
May 7, 2026
Westlake Chemical Partners shares rose 3.4% following first quarter results that showcased stable fee-based cash flow and an improved coverage ratio, reflecting better-than-expected operational consistency amid ongoing geopolitical supply disruptions.
Key takeaways
- First quarter net income was $14 million, or $0.40 per unit, with distributable cash flow of $18 million, or $0.51 per unit.
- Sequential net income declined slightly versus Q4 2025 due to lower volumes but was largely offset by higher third-party prices.
- Trailing 12-month distribution coverage ratio improved to 1.0x from 0.8x, marking an operating surplus and aging out of last year’s Petro 1 turnaround impact.
- Capital expenditures totaled $6 million at OpCo in Q1, with no planned turnarounds for 2026 supporting stable operations.
- Management acknowledged ongoing Middle East-related supply disruptions driving North American demand, underpinning fee-based cash flow stability.