Westlake Chemical Partners LP (NYSE:WLKP) reported second-quarter 2026 results that came in slightly below Wall Street expectations, as revenue missed forecasts and earnings narrowly fell short of analyst estimates.
The partnership’s units were little changed in after-hours trading following the announcement.
Revenue and Earnings Fall Short of Forecasts
Westlake Chemical Partners reported earnings of $0.40 per limited partner unit, just below the analyst consensus estimate of $0.41.
Revenue totalled $297.1 million, significantly lower than the analyst forecast of $537 million and unchanged from the same quarter of 2025.
Net income attributable to the partnership reached $14.2 million, compared with $14.6 million in the prior-year period.
Distributable Cash Flow Improves
MLP distributable cash flow increased to $17.6 million during the quarter, up from $15.0 million in the second quarter of 2025.
The improvement was driven by higher production and sales volumes, as well as lower maintenance capital spending following the completion of the Petro 1 turnaround in the previous year.
Cash flow from operating activities rose sharply to $129.8 million, an increase of $120.7 million compared with the same period last year.
CEO Highlights Stable Cash Generation
President and Chief Executive Officer Jean-Marc Gilson said the partnership continued to benefit from favourable market conditions and reliable contractual cash flows.
“We were pleased with the Partnership’s performance in the second quarter as we benefited from higher third-party ethylene prices and the continued stability of our cash flows due to the ethylene sales agreement with Westlake,” said Jean-Marc Gilson, President and Chief Executive Officer.
Quarterly Distribution Maintained
Westlake Chemical Partners declared a quarterly cash distribution of $0.4714 per common unit for the second quarter of 2026.
The distribution will be paid on August 28, 2026, to unitholders of record as of August 13, 2026.
The latest payment marks the partnership’s 48th consecutive quarterly distribution.
Over the trailing 12 months, distributable cash flow provided distribution coverage of 1.04 times the declared payout.
Westlake Chemical Partners stock price
