Westlake Chemical Partners LP Announces First Quarter 2024 Results
Declared quarterly distribution of $0.4714 per unit; 39 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 2024 of $14.8 million, or $0.42 per limited partner unit, which was in-line with first quarter 2023 net income of $14.9 million. Cash flows from operating activities in the first quarter of 2024 were $104.6 million, a decrease of $40.3 million compared to first quarter 2023 cash flows from operating activities of $144.9 million, due to less favorable working capital changes. For the three months ended March 31, 2024, MLP distributable cash flow was $16.9 million, a decrease of $0.7 million compared to first quarter 2023 MLP distributable cash flow of $17.6 million. The decrease in MLP distributable cash flow and associated trailing twelve-month coverage ratio was primarily due to lower production and sales volume. First quarter 2024 net income