CSIMarket
 
Westlake Chemical Partners Lp  (WLKP)
Other Ticker:  
 
 
Price: $22.6300 $0.14 0.622%
Day's High: $22.6999 Week Perf: 0.31 %
Day's Low: $ 22.24 30 Day Perf: 3.38 %
Volume (M): 17 52 Wk High: $ 23.68
Volume (M$): $ 378 52 Wk Avg: $22.11
Open: $22.24 52 Wk Low: $20.86



 Market Capitalization (Millions $) 802
 Shares Outstanding (Millions) 35
 Employees 141
 Revenues (TTM) (Millions $) 1,191
 Net Income (TTM) (Millions $) 335
 Cash Flow (TTM) (Millions $) -6
 Capital Exp. (TTM) (Millions $) 47

Westlake Chemical Partners Lp

We are a Delaware limited partnership formed by Westlake in March 2014 to operate, acquire and develop ethylene production facilities and related assets. On August 4, 2014, we completed our IPO of 12,937,500 common units representing limited partner interests. In connection with the IPO, we acquired a 10.6% interest in OpCo and a 100% interest in OpCo GP, which is the general partner of OpCo. On April 29, 2015, we purchased an additional 2.7% newly-issued limited partner interest in OpCo, resulting in an aggregate 13.3% limited partner interest in OpCo effective April 1, 2015. Our business and operations are conducted through OpCo. Because we own OpCos general partner, we have control over all of OpCos assets and operations.

OpCos assets are comprised of three ethylene production facilities, which primarily convert ethane into ethylene and have an aggregate annual capacity of approximately 3.4 billion pounds, and a 200-mile ethylene pipeline. OpCo derives substantially all of its revenue from these ethylene production facilities. Ethylene is the worlds most widely used petrochemical in terms of volume and is a key building block used to produce a number of key derivatives, such as polyethylene ("PE") and polyvinyl chloride ("PVC"), which are used in a wide variety of end markets including packaging, construction and transportation. Westlakes downstream PE and PVC production facilities consume a substantial majority of the ethylene produced by OpCo. OpCo generates revenue primarily by selling ethylene to Westlake and others, as well as through the sale of co-products of ethylene production, including propylene, crude butadiene, pyrolysis gasoline and hydrogen. Our sole revenue generating asset is our 13.3% limited partner interest in OpCo.



Among other agreements entered into in connection with the closing of the IPO, OpCo entered into a 12-year ethylene sales agreement with Westlake, under which Westlake agreed to purchase 95% of OpCos planned ethylene production each year, on a cost-plus basis that is expected to generate a fixed margin per pound of $0.10 (the "Ethylene Sales Agreement"). Any ethylene not sold to Westlake and all co-products that are produced by OpCo will be sold to third parties on either a spot or contract basis. OpCo also entered into a feedstock supply agreement with Westlake that supplies OpCo with all of the ethane (and any other feedstocks) required for OpCo to produce ethylene under the Ethylene Sales Agreement (the "Feedstock Supply Agreement").


OpCo primarily uses ethane (a component of natural gas liquids, or NGLs) to produce ethylene. OpCo completed an upgrade and capacity expansion of its Petro 1 ethylene unit at our Lake Charles site in the third quarter of 2016. The Petro 1 expansion project increased OpCos ethylene capacity by approximately 250 million pounds annually. In January 2016, we announced an expansion project to increase the ethylene capacity at our Calvert City facility. The expansion, along with other initiatives, is expected to increase ethylene capacity by approximately 100 million pounds annually and is targeted for completion during the first half of 2017. The total ethylene capacity at Calvert City Olefins is expected to increase to 730 million pounds annually at the completion of this project.

Two of OpCos ethylene production facilities, which we refer to as Petro 1 and Petro 2 and, collectively, as Lake Charles Olefins, are located at Westlakes Lake Charles site. The combined capacity of these two ethylene production facilities is approximately 3.0 billion pounds per year which includes the additional annual capacity of 250 million resulting from the Lake Charles Petro 1 expansion project that was completed during 2016.
Within Westlakes Lake Charles site, Petro 1 and Petro 2 are connected by pipeline systems to Westlakes polyethylene plants. Westlake may use the ethylene it purchases from OpCo at its Lake Charles facility or transfer it to its Geismar facility or its Longview facility, either through physical transportation or via exchange transactions. Westlake may also use the ethylene it purchases from OpCo with chlorine to produce ethylene dichloride and transport it via barge to Westlakes Calvert City site.


In addition, OpCo produces ethylene co-products including chemical grade propylene, crude butadiene, pyrolysis gasoline and hydrogen. OpCo sells its output of these co-products to external customers.



   Company Address: 2801 Post Oak Boulevard Houston 77056 TX
   Company Phone Number: 585-2900   Stock Exchange / Ticker: NYSE WLKP
   


Customers Net Income fell by WLKP's Customers Net Profit Margin fell to

-9.9 %

-0.14 %

• Customers Performance • Customers Expend. • Customers Efficiency • List of Customers


   

Stock Performances by Major Competitors

5 Days Decrease / Increase
     
BCPC        0.22% 
CE        1.66% 
HUN   -3.33%    
LYB   -0.68%    
OLN        2.79% 
WLK        3.52% 
• View Complete Report
   



Business Update

Westlake Chemical Partners LP Faces Revenue Contractions in Challenging Industry Environment

Published Thu, Mar 14 2024 9:00 PM UTC

In a recent update, Westlake Chemical Partners LP (NYSE: WLKP) has provided information on the availability of its 2023 Investor Tax Packages, including Schedule K-1 for its common unitholders. However, their financial performance in Q3 paints a challenging picture for the company. Westlake Chemical Partners LP saw a reduction of 3.24% in costs of revenue for its corporate c...

Westlake Chemical Partners Lp

Westlake Chemical Partners LP Faces Earnings Decline Due to Soft Revenue in Q4 2023

Westlake Chemical Partners LP, a leading chemical manufacturing company, recently reported its fourth-quarter 2023 financial results, showing a decrease in net income compared to the previous year. The company's net income attributable to the Partnership in the fourth quarter of 2023 was $14.3 million, or $0.41 per limited partner unit, down from $16.8 million in the fourth quarter of 2022. This decline was primarily driven by higher interest expenses.
Despite the decrease in net income, Westlake Chemical Partners LP remains optimistic about its future prospects. The company recently announced the availability of its 2023 Investor Tax Packages, including Schedule K-1, for its common unitholders. This information is crucial for investors as they prepare their tax filings for the year.

Business Update

Westlake Chemical Partners LP: Navigating Tax Updates and Revenue Contractions Amidst Fluctuating Markets

Published Tue, Feb 27 2024 11:45 AM UTC

Westlake Chemical Partners LP Provides Update on Tax InformationIn a recent update, Westlake Chemical Partners LP (WLKP) announced the expected availability of the Partnership's 2023 Investor Tax Packages, including Schedule K-1, for its common unitholders. Traditionally, these tax packages have been released by the end of February for the preceding tax year. However, this y...

Dividend

Westlake Chemical Partners LP Announces Fourth Quarter and Full Year 2023 Results

Published Tue, Feb 20 2024 11:30 AM UTC


Westlake Chemical Partners LP, a leading chemical manufacturer, has reported its fourth quarter and full-year results for 2023. The company's net income for the fourth quarter of 2023 stood at $14.3 million, a decrease of $2.5 million compared to the same period in 2022. This decline in net income can be attributed to higher interest expenses.
Despite this decrease ...

Dividend

Westlake Chemical Partners LP Shines with 38th Quarterly Distribution

Published Mon, Jan 22 2024 9:15 PM UTC

Westlake Chemical Partners LP Announces 38th Quarterly Distribution of $0.4714 per Unit
HOUSTON - Westlake Chemical Partners LP (NYSE:WLKP) has announced its 38th quarterly distribution of $0.4714 per unit. The distribution, declared by the Partnership's general partner, Westlake Chemical Partners GP LLC, will be payable on February 20, 2024, to unit holders of record on...






 

Westlake Chemical Partners Lp's Segments
 
 
• View Complete Report
  Company Estimates  
  Revenue Outlook
Westlake Chemical Partners Lp does not provide revenue guidance.

Earnings Outlook
Westlake Chemical Partners Lp does not provide earnings estimates.

 
Geographic Revenue Dispersion




Help

About us

Advertise

CSIMarket Company, Sector, Industry, Market Analysis, Stock Quotes, Earnings, Economy, News and Research. 
   Copyright © 2024 CSIMarket, Inc. All rights reserved. This site uses cookies to make your browsing experince better. By using this site, you agree to the Terms of Service and Privacy Policy - UPDATED (Read about our Privacy Policy)

Intraday data delayed per exchange requirements. All quotes are in local exchange time. Intraday data delayed 15 minutes for Nasdaq, and other exchanges. Fundamental and financial data for Stocks, Sector, Industry, and Economic Indicators provided by CSIMarket.com