Westlake Chemical Partners LP reported first-quarter 2026 net income attributable to the partnership of $14.2 million, up sharply from $4.9 million in the same period a year earlier, but slightly below the $14.5 million posted in the fourth quarter of 2025.
Cash flows from operating activities rose to $110.2 million in the quarter, compared with $45.8 million in the first quarter of 2025, an increase of $64.4 million. Versus the fourth quarter of 2025, operating cash flow fell by $10.2 million from $120.4 million.
MLP distributable cash flow climbed to $17.9 million from $4.7 million a year ago, a gain of $13.2 million. That figure was down $0.9 million from $18.8 million in the prior quarter.
The partnership declared a quarterly distribution of $0.4714 per unit, the 47th consecutive quarterly payout. Trailing 12-month coverage improved to 1.00x at the end of the first quarter from 0.82x at the end of the fourth quarter of 2025.
Production and sales volume were higher than a year earlier, reflecting the absence of the Petro 1 turnaround that affected the prior-year period. The company said lower maintenance capital expenditures also helped boost distributable cash flow. Near the end of the quarter, it said export demand accelerated, lifting third-party ethylene sales prices and supporting cash flow and coverage. As a result of these announcements, the company's shares have moved 2.62% on the market, and are now trading at a price of $23.264. For the full picture, make sure to review Westlake Chemical's 8-K report.
