Westlake Chemical Partners LP (WLKP) Misses Q1 EPS by 1c

Westlake Chemical Partners LP (NYSE: WLKP) reported Q1 EPS of $0.31, $0.01 worse than the analyst estimate of $0.32. Revenue for the quarter came in at $258.4 million versus the consensus estimate of $259.79 million.

On April 29, 2015, WLKP announced that it has agreed to acquire approximately 2.7% of additional interest in OpCo for $135.3 million. This transaction was effective April 1, 2015 and is expected to be immediately accretive to MLP distributable cash flow. In conjunction with this transaction, Westlake Partners entered into a $300.0 million revolving credit facility with a finance subsidiary of Westlake Chemical Corporation to fund acquisitions, including potential additional purchases of interests in OpCo, and for general corporate purposes.

For earnings history and earnings-related data on Westlake Chemical Partners LP (WLKP) click here.

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