The following is a summary of the Westlake Chemical Partners LP Common Units (WLKP) Q3 2024 Earnings Call Transcript:

Financial Performance:

• Westlake Partners reported third quarter 2024 net income of $18 million, or $0.51 per unit.

• Consolidated net income, including OpCo's earnings, was $104 million on net sales of $277 million.

• Distributable cash flow for the quarter was reported at $18 million, or $0.51 per unit, a $4 million increase from the third quarter of 2023.

• The partnership announced a quarterly distribution of $0.4714 per unit.

Business Progress:

• Decision to defer the Petro 1 ethylene unit turnaround to the first quarter of 2025 enabled higher third-party sales volume in Q3 2024.

• Westlake increased its quarterly distributions by 71% since its IPO in 2014.

• No planned turnarounds for the remainder of 2024 following the deferral.

Opportunities:

• Ethylene sales agreement provides a predictable fee-based cash flow structure from OpCo production, minimizing impact of economic fluctuations.

Risks:

• Lower third-party ethylene sales prices and margins projected for Q4 due to strategic shift in sales volume to Q3.

• Global macroeconomic unpredictability continues to present a risk for market volatility.

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