Westlake Chemical Partners LP Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2022
November 03, 2022 at 06:30 am EDT
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Westlake Chemical Partners LP reported earnings results for the third quarter and nine months ended September 30, 2022. For the third quarter, the company reported sales was USD 364.27 million compared to USD 247.89 million a year ago. Revenue was USD 415.12 million compared to USD 293.97 million a year ago. Net income was USD 14.76 million compared to USD 12.79 million a year ago. Basic earnings per share from continuing operations was USD 0.42 compared to USD 0.36 a year ago.
For the nine months, sales was USD 1,020.04 million compared to USD 708.65 million a year ago. Revenue was USD 1,226.31 million compared to USD 884.4 million a year ago. Net income was USD 47.39 million compared to USD 53.04 million a year ago. Basic earnings per share from continuing operations was USD 1.35 compared to USD 1.51 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 
