Westlake Chemical Partners LP (WLKP) Misses Q4 EPS by 3c

Westlake Chemical Partners LP (NYSE: WLKP) reported Q4 EPS of $0.39, $0.03 worse than the analyst estimate of $0.42. Revenue for the quarter came in at $246.86 million, versus $213.48 million reported last year.

On January 27, 2017, the Board of Directors of Westlake Chemical Partners GP LLC, the general partner of the Partnership, announced a quarterly distribution for the fourth quarter of 2016 of $0.3450 per limited partner unit to be payable on February 22, 2017 to unit holders of record as of February 7, 2017. The fourth quarter 2016 distribution increased 12.0% compared to the fourth quarter 2015 distribution and 2.89% compared to the third quarter 2016 distribution. MLP distributable cash flow provided coverage of 1.26x the declared distributions for the fourth quarter of 2016. The increase in cash distributions is in line with the Partnership\'s targeted low double-digit distribution growth.

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

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