<span item_type="fundamental" item_id="df0c3ca2b86cd6e7aa0a08887e1b2c5f" counter_id="ST/US/WLKP" env="prod"></span><span item_type="announcement" item_id="644982751648616961" env="prod"></span><p>Revenue: As of FY2026 Q1, the actual value is USD 305.68 M.</p><p>EPS: As of FY2026 Q1, the actual value is USD 0.4.</p><p>EBIT: As of FY2026 Q1, the actual value is USD 86.92 M.</p><p></p><h3>Net Income</h3><p>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.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1604665/000160466526000013/ex991_20260331earningsrele.htm"></span> Compared to the fourth quarter of 2025, net income attributable to the Partnership decreased by $0.3 million.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1604665/000160466526000013/ex991_20260331earningsrele.htm"></span> 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.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1604665/000160466526000013/ex991_20260331earningsrele.htm"></span></p><h3>Revenue</h3><p>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.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1604665/000160466526000013/ex991_20260331earningsrele.htm"></span> This includes net sales to Westlake Corporation of $263,091 thousand in Q1 2026, an increase from $190,781 thousand in Q1 2025.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1604665/000160466526000013/ex991_20260331earningsrele.htm"></span> 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.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1604665/000160466526000013/ex991_20260331earningsrele.htm"></span></p><h3>Gross Profit</h3><p>Gross profit for the first quarter of 2026 was $93,759 thousand, significantly higher than $54,081 thousand in the first quarter of 2025.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1604665/000160466526000013/ex991_20260331earningsrele.htm"></span></p><h3>Operating Expenses and Income</h3><p>Cost of sales increased to $211,916 thousand in Q1 2026 from $183,548 thousand in Q1 2025.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1604665/000160466526000013/ex991_20260331earningsrele.htm"></span> Selling, general, and administrative expenses slightly decreased to $7,190 thousand in Q1 2026 from $7,474 thousand in Q1 2025.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1604665/000160466526000013/ex991_20260331earningsrele.htm"></span> Income from operations was $86,569 thousand in Q1 2026, compared to $46,607 thousand in Q1 2025.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1604665/000160466526000013/ex991_20260331earningsrele.htm"></span></p><h3>Interest and Taxes</h3><p>Interest expense—Westlake was -$5,085 thousand in Q1 2026, an improvement from -$5,537 thousand in Q1 2025.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1604665/000160466526000013/ex991_20260331earningsrele.htm"></span> Other income, net, was $348 thousand in Q1 2026, down from $1,346 thousand in Q1 2025.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1604665/000160466526000013/ex991_20260331earningsrele.htm"></span> Provision for income taxes was $177 thousand in Q1 2026, compared to $107 thousand in Q1 2025.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1604665/000160466526000013/ex991_20260331earningsrele.htm"></span></p><h3>Cash Flow from Operating Activities</h3><p>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.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1604665/000160466526000013/ex991_20260331earningsrele.htm"></span> Compared to the fourth quarter of 2025, cash flows from operating activities decreased by $10.2 million due to working capital changes.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1604665/000160466526000013/ex991_20260331earningsrele.htm"></span> 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.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1604665/000160466526000013/ex991_20260331earningsrele.htm"></span></p><h3>MLP Distributable Cash Flow</h3><p>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.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1604665/000160466526000013/ex991_20260331earningsrele.htm"></span> This increase was primarily due to higher production and sales volume and lower maintenance capital expenditures.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1604665/000160466526000013/ex991_20260331earningsrele.htm"></span> 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.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1604665/000160466526000013/ex991_20260331earningsrele.htm"></span></p><h3>EBITDA</h3><p>EBITDA for the first quarter of 2026 was $121,216 thousand, up from $75,021 thousand in the first quarter of 2025.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1604665/000160466526000013/ex991_20260331earningsrele.htm"></span></p><h3>Distributions</h3><p>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.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1604665/000160466526000013/ex991_20260331earningsrele.htm"></span> Total distributions declared were $16,615 thousand in Q1 2026, compared to $16,611 thousand in Q1 2025.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1604665/000160466526000013/ex991_20260331earningsrele.htm"></span></p><h3>Coverage Ratio</h3><p>The Partnership generated a coverage ratio of 1.08x for the first quarter of 2026.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1604665/000160466526000013/ex991_20260331earningsrele.htm"></span> 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.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1604665/000160466526000013/ex991_20260331earningsrele.htm"></span> The cumulative coverage ratio since the IPO in July 2014 is approximately 1.05x.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1604665/000160466526000013/ex991_20260331earningsrele.htm"></span></p><h3>Capital Expenditures</h3><p>Additions to property, plant, and equipment were -$5,556 thousand in Q1 2026, a decrease from -$15,956 thousand in Q1 2025.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1604665/000160466526000013/ex991_20260331earningsrele.htm"></span> Maintenance capital expenditures were -$7,810 thousand in Q1 2026, compared to -$20,577 thousand in Q1 2025.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1604665/000160466526000013/ex991_20260331earningsrele.htm"></span></p><h3>Outlook</h3><p>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.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1604665/000160466526000013/ex991_20260331earningsrele.htm"></span> This surge in export demand is projected to positively impact the Partnership’s distributable cash flow and coverage ratio.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1604665/000160466526000013/ex991_20260331earningsrele.htm"></span> 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.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1604665/000160466526000013/ex991_20260331earningsrele.htm"></span></p>

Westlake Chemical Partners LP | 8-K: FY2026 Q1 Revenue: USD 305.68 M