Westlake Chemical Partners (NYSE:WLKP) Posts Earnings Results, Misses Expectations By $0.24 EPS

Westlake Chemical Partners (NYSE:WLKP - Get Free Report) announced its earnings results on Friday. The basic materials company reported $0.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.38 by ($0.24), Zacks reports. The business had revenue of $237.63 million for the quarter, compared to analysts' expectations of $296.00 million. Westlake Chemical Partners had a net margin of 5.40% and a return on equity of 7.31%.

Westlake Chemical Partners Trading Down 2.3 %

NYSE:WLKP traded down $0.55 during midday trading on Friday, hitting $23.25. 34,465 shares of the company traded hands, compared to its average volume of 48,530. The firm has a market capitalization of $819.31 million, a P/E ratio of 13.29 and a beta of 0.84. The firm's fifty day moving average is $23.27 and its 200-day moving average is $23.37. Westlake Chemical Partners has a 12-month low of $21.19 and a 12-month high of $25.04. The company has a current ratio of 4.53, a quick ratio of 4.46 and a debt-to-equity ratio of 0.48.

Westlake Chemical Partners Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 29th. Stockholders of record on Tuesday, May 13th will be issued a $0.4714 dividend. This represents a $1.89 dividend on an annualized basis and a dividend yield of 8.11%. The ex-dividend date is Tuesday, May 13th. Westlake Chemical Partners's dividend payout ratio (DPR) is 106.21%.

Westlake Chemical Partners Company Profile

Westlake Chemical Partners LP acquires, develops, and operates ethylene production facilities and related assets in the United States. The company's ethylene production facilities primarily convert ethane into ethylene. It also sells ethylene co-products, such as propylene, crude butadiene, pyrolysis gasoline, and hydrogen directly to third parties on either a spot or contract basis.

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