Westlake Chemical Partners reports in-line Q2 earnings, shares edge higher By Investing.com

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Westlake Chemical Partners reports in-line Q2 earnings, shares edge higher

Published Aug 05, 2025 12:52

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Westlake Chemical Partners reports in-line Q2 earnings, shares edge higher

WLKP

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HOUSTON - On Tuesday, Westlake Chemical Partners LP (NYSE:WLKP) reported second quarter 2025 net income attributable to the partnership of $14.6 million, or $0.41 per limited partner unit, matching the prior year's second quarter earnings and meeting analyst expectations.

The company's shares rose 0.39% in pre-market trading following the announcement.

The partnership's second quarter results showed improvement from the first quarter, with net income increasing by $9.7 million sequentially due to higher production and sales volume. This improvement came as the company's Petro 1 facility returned to normal operations following a turnaround that began in January and concluded in early April.

Cash flows from operating activities in the second quarter were $9.1 million, a significant decrease of $112.8 million compared to the $121.9 million reported in the same period last year. MLP distributable cash flow was $15.0 million, down from $17.1 million in the second quarter of 2024, primarily due to higher maintenance capital expenditures related to the Petro 1 turnaround.

"While there were some lingering impacts to distributable cash flow in the second quarter from the extension of the turnaround into April, primarily in the form of elevated maintenance capital expenditures, this was not unexpected and should not re-occur at such a high level in future quarters," said Jean-Marc Gilson, President and Chief Executive Officer.

The partnership declared a quarterly distribution of $0.4714 per unit, marking its 44th consecutive quarterly distribution. The trailing twelve-month coverage ratio was 0.79x, slightly below the 0.82x reported at the end of the first quarter.

Management expressed confidence in the outlook, with Gilson noting, "Looking ahead, we expect distributable cash flow and the associated coverage ratio to solidly improve in the second half of 2025 back towards our strong historical levels now that the Petro 1 turnaround has been completed."

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