3 weeks ago
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MarketBeat
Wed, February 25, 2026 astatine 6:48 AM CST 6 min read
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Fixed‑margin declaration renewed: The Ethylene Sales Agreement covering astir 95% of yearly planned accumulation was renewed done 2027 with nary changes, giving absorption assurance successful predictable net and marking the partnership’s 46th consecutive quarterly distribution since its 2014 IPO.
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Turnaround weighed 2025 results: A planned Petro 1 turnaround reduced accumulation and drove full‑year concern nett income to $49 million ($1.38/unit) and MLP distributable currency travel to $53 million, leaving organisation sum astatine 0.8x; fourth‑quarter nett income was $15 million with DCF of $19 million.
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Solid liquidity and betterment outlook: Consolidated currency was $68 million with an operating surplus of astir $74 million, long‑term indebtedness of $400 million and leverage beneath 1x, and absorption says it tin prolong existent distributions without tapping markets and expects sum to rebound supra 1.1x successful 2026 (no turnarounds planned).
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Westlake Chemical Partners (NYSE:WLKP) executives emphasized the stableness of the partnership’s fixed-margin concern exemplary portion reviewing fourth-quarter and full-year 2025 results, which reflected the interaction of a planned turnaround astatine the Petro 1 ethylene installation successful Lake Charles, Louisiana.
President and CEO Jean-Marc Gilson said the concern reported full-year 2025 nett income of $49 million, oregon $1.38 per unit. On a consolidated ground including OpCo, nett income was $299 million for the year. Gilson attributed the partnership’s wide stableness to its fixed-margin Ethylene Sales Agreement, which covers 95% of yearly planned accumulation each twelvemonth and is designed to insulate the concern from marketplace volatility and definite accumulation risks.
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Executive Vice President and CFO Steve Bender said fourth-quarter 2025 nett income attributable to the concern was $15 million, oregon $0.41 per unit, which helium said was successful enactment with the 4th fourth of 2024. Consolidated nett income for the quarter, including OpCo, was $84 million connected consolidated nett income of $323 million.
Bender reported fourth-quarter distributable currency travel of $19 million, oregon $0.53 per unit. He said distributable currency travel accrued by $4 million versus the prior-year 4th chiefly owed to little attraction superior expenditures, which helium attributed to a displacement successful the timing of those currency flows to earlier successful the year.
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