Westlake Chemical Partners LP

wlkpartners.com

What Do They Do?

Sells ethylene and related chemical co-products to Westlake and other buyers through its operating partnership.

How Do They Make Money?

Westlake buys most ethylene under a long-term agreement at a price tied to feedstock and production costs plus a fixed margin, taking it after production. Remaining ethylene and co-products are sold to outside buyers on spot or contract terms, generally when shipped.

FY2025 revenue

Who Are Their Customers?

Westlake buys most ethylene directly under a sales agreement; remaining ethylene and co-products are sold directly to outside customers on spot or contract terms.

Do Revenues Turn Into Profits?

Yes. It kept 4 cents of every revenue dollar as net income in FY2025 and turned 17 cents into free cash flow.

Operating income, FY2025

27% of revenue

▼ −18% vs FY2024 ($390.4M, 34%)

Net income, FY2025

4% of revenue

▼ −22% vs FY2024 ($62.4M, 5%)

Free cash flow, FY2025

17% of revenue

▼ −54% vs FY2024 ($436M, 38%)

How Are They Changing?

Since the FY2025 annual report

Latest quarter: Q2 FY2026, the three months to Jun 30, 2026

Revenue: ▼ 0%; vs $297.1M in Q2 FY2025
Net income: ▼ −2%; vs $14.6M in Q2 FY2025

Apr 20, 2026 CFO transition announced Jonathan H. Baksht was named CFO, succeeding M. Steven Bender, who will retire by year-end.

Flat. Revenue was $1.2B in FY2025, about the same as the $1.2B of FY2021.

Who Do They Compete With?

Competes with LyondellBasell Industries, Shell Chemical, BASF, and Motiva Enterprises

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