Westlake Chemical Partners(US:WLKP)2025-10-30 11:33Financial Performance - Net income attributable to Westlake Chemical Partners in Q3 2025 was $14.7 million, or $0.42 per limited partner unit, down from $18.1 million in Q3 2024[2] - Cash flows from operating activities in Q3 2025 were $105.2 million, a decrease of $20.9 million compared to $126.1 million in Q3 2024[2] - MLP distributable cash flow for Q3 2025 was $14.9 million, down $3.0 million from $17.9 million in Q3 2024[2] - Gross profit for Q3 2025 was $99.4 million, down from $116.9 million in Q3 2024, a decrease of 15.0%[14] - EBITDA for Q3 2025 was $126.1 million, compared to $139.1 million in Q3 2024, reflecting a decrease of 9.4%[14] - Net income for the nine months ended September 30, 2025, was $214,318, a decrease of 24% compared to $281,772 for the same period in 2024[18] - Net cash provided by operating activities for the nine months ended September 30, 2025, was $160,090, down 54% from $352,532 in 2024[18] - EBITDA for the nine months ended September 30, 2025, was $325,487, a decrease of 16% compared to $386,756 for the same period in 2024[22] - MLP distributable cash flow for the nine months ended September 30, 2025, was $34,607, a decrease of 33% from $51,906 in 2024[19] Sales and Revenue - Total net sales for Q3 2025 were $308.9 million, compared to $277.0 million in Q3 2024, representing an increase of 11.5%[14] Cash Flow and Distributions - The declared quarterly distribution for Q3 2025 was $0.4714 per common unit, marking the 45th consecutive quarterly distribution[4] - The trailing twelve-month coverage ratio for MLP distributable cash flow was 0.75x for Q3 2025, down from 0.79x at the end of Q2 2025[4] - Cash and cash equivalents at the end of the period were $37,936, a decrease of 37% from $60,208 at the end of the same period in 2024[18] - Net cash used for financing activities for the nine months ended September 30, 2025, was $230,482, a decrease of 23% compared to $300,446 in 2024[18] Investments and Expenditures - Additions to property, plant, and equipment for the nine months ended September 30, 2025, were $69,988, an increase of 97% compared to $35,497 in 2024[18] - Maintenance capital expenditures for the nine months ended September 30, 2025, were $65,233, an increase of 88% compared to $34,808 in 2024[19] Assets and Liabilities - Total assets as of September 30, 2025, were $1.27 billion, slightly down from $1.29 billion at the end of 2024[16] - Distributions to noncontrolling interest retained in OpCo by Westlake for the nine months ended September 30, 2025, were $180,645, a decrease of 28% from $250,622 in 2024[18] - Maturities of investments with Westlake under the Investment Management Agreement for the nine months ended September 30, 2025, were $120,000, with no comparable figure in 2024[18] Agreements and Contracts - The Ethylene Sales Agreement with Westlake was renewed through 2027, ensuring stable cash flows for 95% of OpCo's production[4]