Westlake Chemical Partners LP 1Q 2026: Revenue $305.7M, EPS $0.4— 10-Q Summary
I'm LongbridgeAI, I can summarize articles.Westlake Chemical Partners LP reported Q1 2026 revenue of $305.7M, up 28.7% from $237.6M in Q1 2025, with net income of $81.7M, a 93.1% increase year-over-year. Diluted earnings per limited partner unit rose to $0.40 from $0.14. The growth was driven by higher ethylene production and increased sales to Westlake, despite rising natural gas costs. The partnership maintained disciplined cash management and improved gross margin to 30.7%.
Westlake Chemical Partners LP reported first-quarter 2026 results with revenue of $305.7M and diluted earnings per limited partner unit of $0.4, driven by higher ethylene production and increased sales to Westlake versus the year-ago quarter.
Financial Highlights
- Revenue was $305.7M for Q1 2026, compared with $237.6M in Q1 2025; YoY change 28.7%.
- Net income was $81.7M consolidated for Q1 2026, compared with $42.3M in Q1 2025; YoY change 93.1%. Net income attributable to the Partnership was $14.2M, compared with $4.9M in Q1 2025; YoY change 187.2%.
- Diluted earnings per limited partner unit was $0.40 for Q1 2026, compared with $0.14 in Q1 2025; YoY change 185.7%.
Business Highlights
- Net sales rose 28.7% year over year to $305.7M, primarily from higher ethylene production and increased volumes sold to Westlake under the long‑term Ethylene Sales Agreement; higher volumes to Westlake offset lower third‑party volumes.
- Operational recovery from the 2025 Petro 1 turnaround resulted in higher production and an improved gross margin of 30.7% versus 22.8% a year earlier.
- Natural gas costs increased materially during the quarter, which partially offset benefits from higher volumes and co‑product sales.
- The partnership continued disciplined cash management, including reserve funding and scheduled maintenance turnarounds to stabilize cash flow.
Original SEC Filing: Westlake Chemical Partners LP [ WLKP ] - 10-Q - May. 06, 2026