Revenue Update on Westlake Chemical Partners LP(NYSE:WLKP)

Westlake Chemical Partners LP(NYSE:WLKP) announced the earnings results for Fiscal Year 2016 and Q2. The results came in during After-hours on Jul 28, 2016. Company reported revenue of $210.84M. Analysts estimated a revenue of $195.36M. Earnings per share were $0.34. Analysts had estimated an EPS of $0.28.

Westlake Chemical Partners LP (WLKP) made into the market gainers list on Thursdays trading session with the shares advancing 2.94% or 0.65 points. Due to strong positive momentum, the stock ended at $22.77, which is also near the day’s high of $22.82. The stock began the session at $22.25 and the volume stood at 89,022 shares. The 52-week high of the shares is $24 and the 52 week low is $14.05. The company has a current market capitalization of $616 M and it has 2,70,59,730 shares in outstanding.

Westlake Chemical Partners LP is a limited partnership formed by Westlake Chemical Corporation (Westlake). The Company operates acquires and develops ethylene production facilities and other assets. The Company’s business and operations are conducted through Westlake Chemical OpCo LP (OpCo) which sells ethylene to Westlake and others as well as sells co-products of ethylene production including propylene crude butadiene pyrolysis gasoline and hydrogen. OpCo’s assets include three ethylene production facilities which primarily convert ethane into ethylene. Its assets include Lake Charles Louisiana (Petro 1) Lake Charles Louisiana (Petro 2) and Calvert City Kentucky (Calvert City Olefins). Petro 1 and Petro 2 are collectively known as Lake Charles Olefins and are located at Westlake’s Lake Charles site. Calvert City Olefins is located at Westlake’s Calvert City site. OpCo also owns a 200-mile 10-inch diameter ethylene pipeline system.

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