Westlake Chemical Partners LP concentrates on acquiring, developing, and operating facilities dedicated to ethylene production, along with related infrastructure, throughout the United ...
Westlake Chemical Partners LP (WLKP) is a master limited partnership established in 2014 and sponsored by Westlake Corporation, a major global chemicals and building products company. WLKP's core business involves owning and operating ethylene production facilities, which are critical to the petrochemical industry. These facilities convert ethane, a natural gas ...Westlake Chemical Partners LP (WLKP) is a master limited partnership established in 2014 and sponsored by Westlake Corporation, a major global chemicals and building products company. WLKP's core business involves owning and operating ethylene production facilities, which are critical to the petrochemical industry. These facilities convert ethane, a natural gas liquid, into ethylene, a fundamental building block for many plastics and chemicals. In addition to ethylene, the partnership produces and sells various co-products, including propylene, crude butadiene, pyrolysis gasoline, and hydrogen, typically under long-term contracts or in spot markets. The company's operations are strategically located in the United States, with key sites in Calvert City, Kentucky, and Lake Charles, Louisiana, providing access to abundant and cost-effective natural gas feedstocks from the Gulf Coast region. WLKP is structured as a partnership, with Westlake Chemical Partners GP LLC serving as its general partner. The partnership's financial strategy focuses on generating stable cash flows to support quarterly distributions, as evidenced by its dividend payout ratio and a dividend yield of around 8.7% as of the latest data. The company's financial metrics indicate strong operational efficiency, with high gross margins and a healthy balance sheet, though it carries a moderate level of debt. Under the leadership of CEO Jean-Marc Gilson, an experienced chemicals industry executive who was appointed in 2021, WLKP has maintained its position as a reliable supplier in the ethylene market. The partnership benefits from the integration with Westlake Corporation, which provides access to expertise, resources, and market opportunities. WLKP's cost structure is characterized by low capital expenditure relative to operating cash flow, contributing to high free cash flow generation. The company employs approximately 155 people, reflecting its asset-light corporate structure while relying on operational staff at its facilities. Despite the cyclical nature of the chemical industry, WLKP has managed to maintain consistent financial performance, with a price-to-earnings ratio of about 13 and a strong current ratio, indicating good short-term liquidity. The company is committed to safety, environmental stewardship, and community engagement, aiming to be a responsible operator in the regions it serves. Looking ahead, WLKP continues to focus on optimizing its existing assets and exploring opportunities for growth within the ethylene value chain, while adhering to its disciplined capital allocation strategy.
Plutux no es un asesor de inversiones. Los datos de mercado y el análisis generado por IA son solo informativos y educativos, no asesoramiento de inversión. Aviso legal
InteranualYoY significa Year-over-Year (interanual). Compara el último valor anual con el valor anual anterior para mostrar la fortaleza de la tendencia a largo plazo.
TrimestralQoQ significa Quarter-over-Quarter (intertrimestral). Compara el último trimestre con el trimestre inmediatamente anterior para mostrar cambios de impulso a corto plazo.
IngresosEl dinero total que entró por la puerta principal al vender cosas, antes de pagar una sola factura. Piensa en esto como el gran total de cada compra con tarjeta de los clientes. (YoY compara el rendimiento de este año con el del año pasado, mientras que QoQ compara los tres meses actuales con los tres anteriores).
$1.2B
+2.7%
-2.8%
Beneficio netoEl resultado final absoluto. Si la empresa pagara a cada proveedor, empleado, banquero y recaudador de impuestos, este es el dinero real que queda en su bolsillo al final del día.
$48.7M
-21.9%
+0.5%
Margen brutoEl margen básico. Si venden unas zapatillas de 100 dólares, este porcentaje indica cuánto de ese precio es ganancia justo después de pagar el caucho y los cordones, pero antes de pagar el alquiler de la tienda o los anuncios de televisión.
+29.8%
-19.2%
+4.0%
Margen operativoLa puntuación de eficiencia del 'trabajo diario'. De cada dólar que gasta un cliente, esto muestra cuántos centavos mantiene la empresa después de fabricar el producto Y pagar todos los gastos generales corporativos (como salarios, marketing y mantener las luces encendidas).
+27.4%
-20.3%
+3.8%
Margen netoEl porcentaje final que se lleva a casa. Cuando se eliminan todos los costos concebibles, impuestos y pagos de intereses, este es el número exacto de centavos que la empresa realmente se queda de cada dólar en ventas.
+4.2%
-24.0%
+3.4%
Flujo de caja libreEl santo grial del efectivo corporativo. Es el dinero físico gastable que queda después de que el negocio paga sus operaciones diarias Y compra las actualizaciones grandes y costosas (como nuevas fábricas o servidores) que necesita para sobrevivir. Este es el dinero 'libre' que pueden usar para pagar dividendos o recomprar acciones.
$201.7M
-53.8%
+12.2%
Margen FCFLa tasa definitiva de conversión de efectivo. Muestra qué tan buena es la empresa para convertir ventas regulares directamente en efectivo frío, duro y gastable. Un porcentaje alto significa que el negocio es una auténtica máquina de imprimir dinero.
+17.3%
-55.0%
+15.4%
Deuda/PatrimonioEl indicador de riesgo financiero. Compara cuánto del imperio de la empresa se construyó con dinero prestado (préstamos) frente al dinero propio de los propietarios (accionistas). Un número alto significa que están muy apalancados y juegan un juego más arriesgado; un número bajo significa que juegan a lo seguro.
79.8%
+3.5%
+96.5%
Ratio corrienteLa verificación de supervivencia de 12 meses. Simplemente compara el efectivo que tienen ahora mismo (más cosas que pueden convertirse rápidamente en efectivo) con las facturas inmediatas que absolutamente deben pagar este año. Una puntuación superior a 1 significa que tienen suficiente en la billetera para cubrir las próximas facturas sin entrar en pánico.
2.80x
-35.7%
-5.7%
Activos totalesEl tamaño absoluto del imperio de la empresa. Agrupa absolutamente todo lo valioso que poseen, desde el efectivo en la caja registradora y el inventario en el almacén, hasta las patentes de software en la bóveda y las fábricas en el suelo.
Operator: Good afternoon. Thank you for standing by. Welcome to the Westlake Chemical Partners second quarter 2026 Earnings Conference Call. During the presentation, all After the speakers' remarks, you will be invited to participate in a question-and-answer session. As a reminder, this conference is being recorded today, August 4, 2026. I would now like to turn the call over to today's host, Jeffrey A. Holy, Wesley Chemical Partners' vice president and chief accounting officer. Sir, you may begin.
Jeffrey A. Holy: Thank you. Good afternoon, everyone, and welcome to the Westlake Chemical Partners second quarter 2026 Conference Call. Joined today by Albert Yuan Chao, our Executive Chairman Jean-Marc Gilson, our President and CEO Johnathan Marks, our Senior Vice President and Chief Financial Officer Steve Bender, our Special Advisor to the President and other members of our management team. During this call, we refer to ourselves as Westlake Partners or the partnership. References to Westlake refer to our parent company, Westlake Corporation, and references to Opco refer to Westlake Chemical OpCo LP a subsidiary of Westlake and a partnership which owns certain olefin assets Additionally, when we refer to distributable cash flow, we are referring to Westlake Chemical Partners MLP distributable cash flow. Definitions of these terms are available on the partnership's website. Today, management is going to discuss certain topics that will contain forward looking information that is based on management's beliefs, as well as assumptions made by and information currently available to management. These forward looking statements suggest predictions or expectations and thus are subject to risks or uncertainties. We encourage you to learn more about the factors that could lead our actual results to differ by reviewing the cautionary statements in our regulatory filings, which are also available on our Investor Relations website. This morning, Westlake Partners issued a press release with details of our second quarter 2026 financial and operating results. This document is available in the press release section of our webpage at wlkpartners.com. A replay of today's call will be available beginning 2 hours after the conclusion of this call. The replay can be accessed via the partnership's website. Please note that information reported on this call speaks only as of today, August 4, 2026, and therefore, you are advised that time sensitive information may no longer be accurate as of the time of any replay. I would finally advise you that this conference call is being broadcast live through an Internet webcast system that can be accessed on our webpage at wlkpartners.com. Now I would like to turn the call over to Jean-Marc Gilson. Jean-Marc?
Jean-Marc Gilson: Thank you, Jeffrey, and good afternoon, everyone, and thank you for joining us to discuss our second quarter 2026 results. In this morning's press release, we reported Westlake Partners second quarter 2026 …