Westlake Chemical Partners reports Q3 EPS 37c, consensus 44c

Reports Q3 revenue $321.66M, consensus $357.02M. “We were pleased with the Partnership’s performance in Q3, with net income, EBITDA and cash flow from operations all increasing from Q2. While distributable cash flow was sequentially lower due to the timing of maintenance capital spending, our underlying financial results and cash flows remain stable and predictable, supported by our sales agreement with Westlake that delivers a fixed margin on 95% of our production,” said CEO Albert Chao. “While the Partnership’s coverage ratio has declined due to turnaround activity, we expect it to recover in future periods after turnaround activity is complete.”