Westlake Chemical Partners LP Reports Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2022
February 21, 2023 at 06:30 am EST
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Westlake Chemical Partners LP reported earnings results for the fourth quarter and full year ended December 31, 2022. For the fourth quarter, the company reported sales was USD 322.87 million compared to USD 317.94 million a year ago. Revenue was USD 366.84 million compared to USD 330.46 million a year ago. Net income was USD 16.78 million compared to USD 29.51 million a year ago. Basic earnings per share from continuing operations was USD 0.48 compared to USD 0.84 a year ago.
For the full year, sales was USD 1,342.91 million compared to USD 1,026.59 million a year ago. Revenue was USD 1,593.15 million compared to USD 1,214.86 million a year ago. Net income was USD 64.17 million compared to USD 82.55 million a year ago. Basic earnings per share from continuing operations was USD 1.82 compared to USD 2.34 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 
