HOUSTON--(BUSINESS WIRE)--Westlake Chemical Partners LP (NYSE: WLKP) (the "Partnership") announced that it filed its Annual Report on Form 10-K for the fiscal year ended December 31, 2023 with the Securities and Exchange Commission on February 28, 2024. A copy of this 10-K may be found on the Partnership's website, www.wlkpartners.com, by selecting the "Investor Relations" tab, then "SEC Filings." Unitholders of the Partnership may receive a hard copy of its Annual Report on Form 10-K, including complete a ...

HOUSTON--(BUSINESS WIRE)--Westlake Chemical Partners LP (NYSE: WLKP) (the "Partnership") today reported net income attributable to the Partnership in the fourth quarter of 2023 of $14.3 million, or $0.41 per limited partner unit, a decrease of $2.5 million compared to fourth quarter 2022 net income of $16.8 million. The decrease in net income in the fourth quarter of 2023 when compared to the prior-year period was largely driven by higher interest expense. Cash flows from operating activities in the fourth ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2022 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Transition Period from to Commission File No. 001-36567 Westlake Chemical Partners LP (Exact name of registrant as specified in its charter) Securities registered pursuant to Section 12(b) of t ...

Westlake Chemical Partners LP (NYSE:WLKP) Q2 2021 Earnings Conference Call August 3, 2021 1:00 PM ET Company Participants Jeff Holy - VP & Treasurer Albert Chao - President & CEO Mark Bender - EVP & CFO Conference Call Participants Michael Leithead - Barclays Bank Matthew Blair - Tudor, Pickering, Holt & Co. Operator Good afternoon. Thank you for standing by. Welcome to the Westlake Chemical Partners Second Quarter 2021 Earnings Conference Call. [Operator Instructions]. As a reminder, this conference is bei ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2021 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Transition Period from to Commission File No. 001-36567 Westlake Chemical Partners LP (Exact name of registrant as specified in its charter) Delaware 32-0436529 (State or other jurisdiction of ...

[PART I. FINANCIAL INFORMATION](index=4&type=section&id=PART%20I.%20FINANCIAL%20INFORMATION) [Financial Statements](index=4&type=section&id=Item%201.%20Financial%20Statements) Unaudited statements show increased net income driven by higher sales prices and a significant buyer deficiency fee Consolidated Balance Sheet Highlights (Unaudited) | Account | Sep 30, 2020 ($ thousands) | Dec 31, 2019 ($ thousands) | | :--- | :--- | :--- | | **Total current assets** | 278,162 | 238,411 | | **Total assets** | 1,382,282 | 1,393,456 | | **Total current liabilities** | 41,694 | 38,849 | | **Total liabilities** | 443,450 | 441,321 | | **Total equity** | 938,832 | 952,135 | Consolidated Statements of Operations Highlights (Unaudited) | Metric | Q3 2020 ($ thousands) | Q3 2019 ($ thousands) | Nine Months 2020 ($ thousands) | Nine Months 2019 ($ thousands) | | :--- | :--- | :--- | :--- | :--- | | **Total net sales** | 231,969 | 249,925 | 721,018 | 819,073 | | **Gross profit** | 100,391 | 93,219 | 293,969 | 275,831 | | **Income from operations** | 94,136 | 86,397 | 275,379 | 254,397 | | **Net income** | 91,848 | 82,479 | 265,995 | 240,985 | | **Net income attributable to WLKP** | 18,535 | 14,922 | 51,142 | 43,610 | | **EPS (Common units, basic & diluted)** | $0.53 | $0.42 | $1.45 | $1.27 | Consolidated Statements of Cash Flows Highlights (Unaudited) | Cash Flow Activity | Nine Months Ended Sep 30, 2020 ($ thousands) | Nine Months Ended Sep 30, 2019 ($ thousands) | | :--- | :--- | :--- | | **Net cash provided by operating activities** | 340,876 | 335,154 | | **Net cash used for investing activities** | (58,170) | (45,982) | | **Net cash used for financing activities** | (279,298) | (290,269) | | **Net increase (decrease) in cash** | 3,408 | (1,097) | - The Partnership operates ethylene production facilities and holds a **22.8% limited partner interest** in OpCo, consolidating its results[21](index=21&type=chunk)[22](index=22&type=chunk)[25](index=25&type=chunk) - A quarterly cash distribution of **$0.4714 per unit** was declared for Q3 2020, payable on November 24, 2020[38](index=38&type=chunk) [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=19&type=section&id=Item%202.%20Management's%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Strong Q3 results were driven by a $41.3 million buyer deficiency fee, offsetting lower production volumes [Recent Developments](index=21&type=section&id=Recent%20Developments) Hurricanes Laura and Delta forced facility shutdowns, triggering a force majeure event and a buyer deficiency fee - The business did not experience significant disruptions from COVID-19 due to its **take-or-pay contract with Westlake** covering 95% of production[99](index=99&type=chunk) - A force majeure declaration following Hurricane Laura resulted in a **$41.3 million buyer deficiency fee** from Westlake, recognized as net sales in Q3 2020[50](index=50&type=chunk)[102](index=102&type=chunk) [Results of Operations](index=23&type=section&id=Results%20of%20Operations) Net income increased for both Q3 and the nine-month period, primarily due to a deficiency fee and higher contractual prices Q3 2020 vs Q3 2019 Performance | Metric | Q3 2020 | Q3 2019 | Change | Reason for Change | | :--- | :--- | :--- | :--- | :--- | | **Net Sales** | $232.0M | $249.9M | -7.2% | Lower production volume (-34.5%) offset by higher sales price (+10.8%) and $41.3M deficiency fee | | **Gross Profit** | $100.4M | $93.2M | +7.7% | Higher earnings from Westlake due to deficiency fee, despite lower third-party sales | | **Net Income** | $91.8M | $82.5M | +11.3% | Higher gross profit and lower interest expense | | **MLP Distributable Cash Flow** | $21.2M | $20.5M | +3.4% | Higher income and lower interest expense, partially offset by increased turnaround reserves | Nine Months 2020 vs Nine Months 2019 Performance | Metric | Nine Months 2020 | Nine Months 2019 | Change | Reason for Change | | :--- | :--- | :--- | :--- | :--- | | **Net Sales** | $721.0M | $819.1M | -12.0% | Lower production volume (-15.2%) and lower third-party prices, partially offset by $41.3M deficiency fee | | **Gross Profit** | $294.0M | $275.8M | +6.6% | Higher earnings from Westlake and the deficiency fee | | **Net Income** | $266.0M | $241.0M | +10.4% | Higher gross profit, lower SG&A, and lower interest expense | | **MLP Distributable Cash Flow** | $56.4M | $54.4M | +3.7% | Higher income and lower interest expense, partially offset by increased turnaround reserves | [Liquidity and Capital Resources](index=27&type=section&id=Liquidity%20and%20Capital%20Resources) Liquidity is primarily sourced from operations and credit facilities with Westlake, with total debt at $399.7 million - The Partnership has an at-the-market (ATM) program to sell up to **$50.0 million in common units**, but no units were issued as of September 30, 2020[132](index=132&type=chunk) - As of September 30, 2020, the Partnership had **$23.3 million in cash** and cash equivalents, plus **$191.2 million invested with Westlake**[139](index=139&type=chunk)[140](index=140&type=chunk) Outstanding Debt to Westlake (as of Sep 30, 2020) | Facility | Outstanding Amount ($ millions) | Maturity | | :--- | :--- | :--- | | **OpCo Revolver** | 22.6 | Sep 2023 | | **MLP Revolver** | 377.1 | Mar 2023 | | **Total** | **399.7** | | [Quantitative and Qualitative Disclosures about Market Risk](index=32&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20about%20Market%20Risk) The primary market risk is interest rate exposure on its variable-rate debt, while commodity price risk is limited - Direct commodity price risk is limited to approximately **5.0% of total ethylene production** sold to third parties due to a cost-plus agreement with Westlake[151](index=151&type=chunk) - The Partnership is exposed to interest rate risk on its **$399.7 million of variable-rate debt**, with a 100 basis point increase raising annual interest expense by about **$4.0 million**[152](index=152&type=chunk) [Controls and Procedures](index=32&type=section&id=Item%204.%20Controls%20and%20Procedures) Management concluded that disclosure controls and procedures were effective, with no material changes to internal controls - Management concluded that the company's **disclosure controls and procedures were effective** as of the end of the period covered by the report[154](index=154&type=chunk) - **No material changes** in internal control over financial reporting occurred during Q3 2020[155](index=155&type=chunk) [PART II. OTHER INFORMATION](index=32&type=section&id=PART%20II.%20OTHER%20INFORMATION) [Legal Proceedings](index=32&type=section&id=Item%201.%20Legal%20Proceedings) The Partnership is involved in an EPA enforcement initiative regarding flare emissions that may result in a monetary sanction - The EPA is conducting an enforcement action related to flares at the Calvert City and Lake Charles facilities, which may result in a **monetary sanction exceeding $100,000**[158](index=158&type=chunk) [Risk Factors](index=33&type=section&id=Item%201A.%20Risk%20Factors) The primary risk is credit exposure to Westlake, whose financial condition could be adversely affected by the COVID-19 pandemic - A key risk is the **creditworthiness of Westlake**, as the Partnership's distributions depend on Westlake meeting its contractual obligations[161](index=161&type=chunk) - The **COVID-19 pandemic poses a risk** to Westlake's business and financial condition, which could indirectly impact the Partnership[163](index=163&type=chunk)[165](index=165&type=chunk) [Exhibits](index=34&type=section&id=Item%206.%20Exhibits) This section lists standard exhibits filed with the report, including officer certifications and XBRL data files - The report includes standard exhibits such as **CEO and CFO certifications** and XBRL data files[167](index=167&type=chunk)

Westlake Chemical Partners LP (NYSE:WLKP) Q3 2020 Earnings Conference Call November 3, 2020 1:00 PM ET Company Participants Jeff Holy - VP & Treasurer Albert Chao - President, CEO & Director Steven Bender - SVP, CFO & Director Conference Call Participants Michael Leithead - Barclays Bank Matthew Blair - Tudor, Pickering, Holt & Co. Operator Good afternoon. Thank you for standing by. Welcome to the Westlake Chemical Partners Third Quarter 2020 Earnings Conference Call. [Operator Instructions]. As a reminder, ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2020 Securities registered pursuant to Section 12(b) of the Act: or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Transition Period from to Commission File No. 001-36567 Westlake Chemical Partners LP (Exact name of registrant as specified in its ...