Westlake Chemical Partners LP Q1 2026 Earnings Recap

WLKP Q1 2026 May 7, 2026

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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.

Earnings Per Share Miss

$0.40 vs $0.43 est.

-7.0% surprise

Revenue Miss

305675000 vs 522000000 est.

-41.4% surprise

Market Reaction

1-Day +0.34%

5-Day +1.47%

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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.

This summary was generated by AI from the official earnings call transcript and is provided for informational purposes only. It does not constitute financial advice. For the complete transcript and financial data, visit WLKP on AllInvestView.