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Westlake Chemical PRN (WLKP)
NYSE:WLKP
Earnings Data
Report Date
May 01, 2025TBA Not Confirmed
Period Ending
2025 (Q1)Consensus EPS Forecast
0.37Last Year’s EPS
0.42Same Quarter Last Year
Based on 0 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Feb 24, 2025
|% Change Since: -0.91%
|Next Earnings Date:May 01, 2025
Earnings Call Sentiment|Positive
The earnings call reflects a positive sentiment overall, with strong full-year net income growth, consistent distributions, and improved market conditions for ethylene. However, there are temporary concerns about decreased distributable cash flow in Q4 and the financial impact of the planned turnaround.Company Guidance
During the Westlake Chemical Partners LP Fourth Quarter and Full Year 2024 Earnings Conference Call, management provided guidance on several key financial metrics. For the full year 2024, Westlake Chemical Partners LP reported a net income of $62 million, or $1.77 per unit, with consolidated net income, including OpCo, reaching $369 million. The partnership achieved a fourth quarter net income of $15 million, or $0.43 per unit, with consolidated net sales amounting to $290 million. Distributable cash flow for the fourth quarter was $15 million, or $0.42 per unit. The partnership's full year 2024 MLP distributable cash flow increased by $4 million compared to 2023, with a distribution coverage ratio of 1.01 times. The partnership announced a quarterly distribution of $0.4714 per unit, maintaining a 71% growth in distributions since its IPO. The company emphasized its strong balance sheet with consolidated cash and investments totaling $193 million and long-term debt at $400 million. Looking forward, the partnership has accounted for the cost of a planned 60-day turnaround at the PetroOne ethylene unit, which is expected to temporarily impact the distribution coverage ratio. However, after the completion of the turnaround, the partnership anticipates a return to its target coverage ratio of approximately 1.1 times.Strong Full Year Net Income Growth
Westlake Chemical Partners LP reported full year 2024 net income of $62 million, a significant increase from the previous year's $54 million, driven by higher third-party ethylene sales prices and margins.
Consistent Distributions to Unitholders
The company maintained its streak of 42 consecutive quarterly distributions since its IPO in July 2014 without reductions, demonstrating stability in its financial performance.
Improved Leverage Metrics
The partnership maintained a strong balance sheet with a consolidated leverage ratio below one times, with $193 million in consolidated cash and investments.
Ethylene Market Conditions
North American spot ethylene prices and margins improved due to a tightening of supply-demand conditions, benefiting the partnership through higher sales prices and margins.
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WLKP Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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WLKP Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Feb 24, 2025 | $24.22 | $24.42 | +0.83% |
| Nov 05, 2024 | $21.58 | $21.57 | -0.05% |
| Aug 06, 2024 | $21.36 | $21.65 | +1.36% |
| May 01, 2024 | $20.14 | $20.23 | +0.45% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Westlake Chemical PRN (WLKP) report earnings?
Westlake Chemical PRN (WLKP) is schdueled to report earning on May 01, 2025, TBA Not Confirmed.
What is Westlake Chemical PRN (WLKP) earnings time?
Westlake Chemical PRN (WLKP) earnings time is at May 01, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is WLKP EPS forecast?
WLKP EPS forecast for the fiscal quarter 2025 (Q1) is 0.37.
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