Q3 2025 Westlake Chemical Partners LP Earnings Call Transcript
Key Points
- Westlake Chemical Partners LP (WLKP) reported a net income of $15 million or $0.42 per unit for the third quarter of 2025.
- The partnership completed a planned turnaround at the Petro 1 Eyne unit in Lake Charles, Louisiana, which benefited third-quarter sales and earnings.
- WLKP announced a quarterly distribution of $0.47 per unit, marking 45 consecutive quarterly distributions since its IPO in 2014.
- The partnership maintains a strong balance sheet with a consolidated leverage ratio of approximately one time.
- WLKP renewed its ethylene sales agreement with Westlake to the end of 2027, ensuring stable and predictable cash flows.
- Third quarter net income of $15 million was lower than the third quarter of 2024, partly due to lower margins on ethylene sales to third parties.
- Distributable cash flow decreased by $3 million compared to the third quarter of 2024 due to higher maintenance capital expenditures.
- The global industrial and manufacturing activity remains soft in 2025, impacting the global chemical industry.
- The distributable cash flow for the quarter was less than the amount of distribution per unit, attributed to the planned turnaround.
- The partnership's financial performance is challenged by the broader macroeconomic environment, despite the support from the ethylene sales agreement.
Good afternoon and thank you for standing by. Welcome to the Westlake Chemical Partners Third quarter 2025.
Earnings conference call. During this presentation, all participants will be in a listen-only mode. After the speaker's remark, you will be invited to participate in a question-and-answer session. To ask a question during the session, you will need to press 11 on your telephone. You will then hear an automated message advising your hand is raised. To withdraw your question, please press 11 again. Please be advised that today's conference is being recorded today, October 30, 2025. I would now like to turn the call over to your.
Host Jeff Hawley, Westlake Chemical Partners Vice President and Chief Accounting Officer. Sir, you may begin.
Thank you, Gerald. Good afternoon, everyone, and welcome to the Westlake Chemical Partners 3rd quarter 2025 conference call.
I'm joined today by Albert Choll, our executive Chairman, John Mark Gillson, our President and CEO
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