Westlake Chemical Partners LP Announces First Quarter 2023 Results
Declared quarterly distribution of $0.4714 per unit; 35 th consecutive quarterly distribution Westlake Chemical Partners LP (NYSE: WLKP) (the "Partnership") today reported net income attributable to the Partnership in the first quarter of 2023 of $14.9 million, or $0.42 per limited partner unit, a decrease of $1.3 million compared to first quarter 2022 net income of $16.2 million. The Partnership's net income in the first quarter of 2023 was the result of strong production volumes with the decrease in net income compared to the first quarter of 2022 attributable to higher interest expense. Cash flows from operating activities in the first quarter of 2023 were $144.9 million, an increase of $40.1 million compared to first quarter 2022 cash flows from operating activities of $104.8 million. The increase was primarily due to favorable working capital changes. For the three months ended March 31, 2023, MLP distributable cash flow was $17.6 million, a decrease of $1.7 million compared to