Westlake Partners (WLKP) Q3 2026 Earnings Call Transcript

Westlake Chemical Partners LP reported Q3 2026 net income of $16.2 million ($0.46 per unit) and distributable cash flow of $18.0 million ($0.51 per unit), driven by higher production and sales volume. The company declared its 49th consecutive quarterly distribution of $0.4714 per unit with a trailing twelve-month coverage ratio of 1.09x. The partnership's fixed-margin ethylene sales agreement with parent company Westlake Corporation provides stability, covering 95% of production at $0.10 per pound, while 5% of sales face market volatility. Management identified four growth levers: increasing OpCo ownership, acquiring income streams, pursuing organic expansions, and negotiating higher fixed margins in future contract discussions.