Westlake Chemical Partners LP Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2022
August 02, 2022 at 06:30 am EDT
Share
Westlake Chemical Partners LP reported earnings results for the second quarter and six months ended June 30, 2022. For the second quarter, the company reported sales was USD 365.11 million compared to USD 240.96 million a year ago. Revenue was USD 448.79 million compared to USD 322.23 million a year ago. Net income was USD 16.44 million compared to USD 25.1 million a year ago. Basic earnings per share from continuing operations was USD 0.47 compared to USD 0.71 a year ago.
For the six months, sales was USD 655.77 million compared to USD 460.76 million a year ago. Revenue was USD 811.19 million compared to USD 590.44 million a year ago. Net income was USD 32.63 million compared to USD 40.25 million a year ago. Basic earnings per share from continuing operations was USD 0.93 compared to USD 1.14 a year ago.
Westlake Chemical Partners LP is a limited partnership formed by Westlake Corporation to operate, acquire, and develop ethylene production facilities and other qualified assets. The Companyâs business and operations are conducted through Westlake Chemical OpCo LP (OpCo). OpCos assets consist of three ethylene production facilities in Calvert City, Kentucky, and Lake Charles, Louisiana, and an ethylene pipeline. The ethylene production facilities primarily convert ethane into ethylene and have an aggregate annual capacity of approximately 3.7 billion pounds, and a 200-mile ethylene pipeline. It owns two ethylene production facilities at Westlake's Lake Charles, Louisiana site (Petro 1 and Petro 2, collectively Lake Charles Olefins), with an annual combined capacity of approximately 3.0 billion pounds. The Company owns one ethylene production facility at Westlake's Calvert City, Kentucky site (Calvert City Olefins), with an annual capacity of approximately 730 million pounds.
WESTLAKE CHEMICAL PARTNERS LP 
