Westlake Chemical Partners, Q3 2026 Earnings Call Transcript

Westlake Chemical Partners’ third-quarter net income and distributable cash flow rose year over year, supported by higher production and sales volumes and lower maintenance spending. Management emphasized the stability provided by its fixed-margin ethylene sales agreement, which has underpinned 49 consecutive quarterly distributions; trailing-12-month distribution coverage improved to 1.09x. The partnership reported a consolidated leverage ratio of about 1x and said it can sustain its current distribution without accessing capital markets. Third-party ethylene prices have been volatile amid the Middle East conflict but have risen so far in the fourth quarter, potentially providing a modest benefit on roughly 5% of annual sales. No turnarounds are planned for the rest of 2026 or 2027.