--- title: "Westlake Chemical Partners LP | 8-K: FY2026 Q1 Revenue: USD 305.68 M" type: "News" locale: "en" url: "https://longbridge.com/en/news/285197661.md" datetime: "2026-05-05T11:32:24.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/285197661.md) - [en](https://longbridge.com/en/news/285197661.md) - [zh-HK](https://longbridge.com/zh-HK/news/285197661.md) --- # Westlake Chemical Partners LP | 8-K: FY2026 Q1 Revenue: USD 305.68 M Revenue: As of FY2026 Q1, the actual value is USD 305.68 M. EPS: As of FY2026 Q1, the actual value is USD 0.4. EBIT: As of FY2026 Q1, the actual value is USD 86.92 M. ### Net Income Net income attributable to Westlake Chemical Partners LP for the first quarter of 2026 was $14.2 million, an increase from $4.9 million in the first quarter of 2025, primarily due to higher production and sales volume as a result of the prior year’s Petro 1 turnaround. Compared to the fourth quarter of 2025, net income attributable to the Partnership decreased by $0.3 million. The total net income for the three months ended March 31, 2026, was $81,655 thousand, up from $42,309 thousand in the same period of 2025. ### Revenue Total net sales for the three months ended March 31, 2026, were $305,675 thousand, compared to $237,629 thousand for the same period in 2025. This includes net sales to Westlake Corporation of $263,091 thousand in Q1 2026, an increase from $190,781 thousand in Q1 2025. Net co-products, ethylene, and other sales to third parties decreased to $42,584 thousand in Q1 2026 from $46,848 thousand in Q1 2025. ### Gross Profit Gross profit for the first quarter of 2026 was $93,759 thousand, significantly higher than $54,081 thousand in the first quarter of 2025. ### Operating Expenses and Income Cost of sales increased to $211,916 thousand in Q1 2026 from $183,548 thousand in Q1 2025. Selling, general, and administrative expenses slightly decreased to $7,190 thousand in Q1 2026 from $7,474 thousand in Q1 2025. Income from operations was $86,569 thousand in Q1 2026, compared to $46,607 thousand in Q1 2025. ### Interest and Taxes Interest expense—Westlake was -$5,085 thousand in Q1 2026, an improvement from -$5,537 thousand in Q1 2025. Other income, net, was $348 thousand in Q1 2026, down from $1,346 thousand in Q1 2025. Provision for income taxes was $177 thousand in Q1 2026, compared to $107 thousand in Q1 2025. ### Cash Flow from Operating Activities Cash flows from operating activities in the first quarter of 2026 were $110.2 million, a substantial increase of $64.4 million compared to $45.8 million in the first quarter of 2025, driven by higher production and sales volume. Compared to the fourth quarter of 2025, cash flows from operating activities decreased by $10.2 million due to working capital changes. Net cash provided by operating activities, as per the consolidated statements, was $110,198 thousand in Q1 2026, versus $45,781 thousand in Q1 2025. ### MLP Distributable Cash Flow MLP distributable cash flow for the first quarter of 2026 was $17.9 million, an increase of $13.2 million from $4.7 million in the first quarter of 2025. This increase was primarily due to higher production and sales volume and lower maintenance capital expenditures. Compared to the fourth quarter of 2025, MLP distributable cash flow decreased by $0.9 million from $18.8 million due to lower production and sales volume. ### EBITDA EBITDA for the first quarter of 2026 was $121,216 thousand, up from $75,021 thousand in the first quarter of 2025. ### Distributions Westlake Chemical Partners LP declared a quarterly distribution of $0.4714 per unit for the first quarter of 2026, marking its 47th consecutive quarterly distribution. Total distributions declared were $16,615 thousand in Q1 2026, compared to $16,611 thousand in Q1 2025. ### Coverage Ratio The Partnership generated a coverage ratio of 1.08x for the first quarter of 2026. The trailing twelve-month coverage ratio was 1.00x for Q1 2026, up from 0.82x at the end of the fourth quarter of 2025. The cumulative coverage ratio since the IPO in July 2014 is approximately 1.05x. ### Capital Expenditures Additions to property, plant, and equipment were -$5,556 thousand in Q1 2026, a decrease from -$15,956 thousand in Q1 2025. Maintenance capital expenditures were -$7,810 thousand in Q1 2026, compared to -$20,577 thousand in Q1 2025. ### Outlook The Partnership anticipates benefiting from increased global demand for North American chemicals and polymers, which is expected to drive higher third-party ethylene sales prices due to geopolitical events. This surge in export demand is projected to positively impact the Partnership’s distributable cash flow and coverage ratio. The Ethylene Sales Agreement with Westlake is designed to provide stable cash flows, with 95% of OpCo’s ethylene production sold to Westlake for a cash margin of $0.10 per pound, net of operating costs, maintenance capital expenditures, and reserves for future turnaround expenditures. ### Related Stocks - [WLKP.US](https://longbridge.com/en/quote/WLKP.US.md) ## Related News & Research - [Gamehaus Holdings Inc. 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