WESTLAKE CHEMICAL PARTNERS LP Reports 41.1% Year-over-Year Decline in Total Revenue for Q2 2023
August 13, 2023
🌥️Earnings Overview
On August 3 2023, WESTLAKE CHEMICAL PARTNERS LP ($NYSE:WLKP) reported total revenue of USD 264.2 million for its fiscal year 2023 Q2, a decrease of 41.1% year over year. Net income for the quarter ending June 30 2023 was USD 11.9 million, a 27.7% decline compared to the same period in the previous year.
Analysis
GoodWhale has conducted a thorough analysis of the fundamentals of WESTLAKE CHEMICAL PARTNERS LP and generated a Star Chart showing that the company has been classified as a ‘cow’. Companies that fall under this category have historically paid out consistent and sustainable dividends to investors. As such, investors who are looking for steady income from their portfolio may find WESTLAKE CHEMICAL PARTNERS LP attractive. The analysis also revealed that WESTLAKE CHEMICAL PARTNERS LP is strong in dividend, medium in asset, profitability and weak in growth. Additionally, it has a high health score of 8/10 due to its cashflows and debt, indicating that it is capable to safely ride out any crisis without the risk of bankruptcy. All this makes WESTLAKE CHEMICAL PARTNERS LP an intriguing option for passive income investors who seek stable returns. More…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for WLKP. More…
| Total Revenues | Net Income | Net Margin |
| 1.35k | 58.32 | 4.3% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for WLKP. More…
| Operations | Investing | Financing |
| 481.47 | -2.95 | -437.45 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for WLKP. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 1.34k | 467.63 | 8.11 |
Key Ratios Snapshot
Some of the financial key ratios for WLKP are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 10.2% | -0.7% | 26.5% |
| FCF Margin | ROE | ROA |
| 32.7% | 78.0% | 16.8% |
Peers
The petrochemical industry has seen some fierce competition as of late, especially between Westlake Chemical Partners LP and a few of its main competitors, such as LSB Industries Inc, Rongsheng Petro Chemical Co Ltd, and Qualipoly Chemical Corp. All of these companies have put forth tremendous effort in order to gain an edge over the others, leading to an intense rivalry among them.
– LSB Industries Inc ($NYSE:LXU)
LSB Industries Inc is a diversified chemical company located in Oklahoma City, Oklahoma. It provides products for the agricultural, industrial and specialty chemical industries. The company has a market cap of 1.03 billion as of 2023, which indicates that it is a mid-size to large-size firm. Its Return on Equity (ROE) of 30.89% shows that it is able to generate a high return on its equity investments. This is an indication of its ability to consistently generate profits and create value for its shareholders.
– Rongsheng Petro Chemical Co Ltd ($SZSE:002493)
Rongsheng Petro Chemical Co Ltd is a leading petrochemical company based in China. As of 2023, the company has a market cap of 127.58B, which makes it one of the largest public companies in the country. Its Return on Equity (ROE) stands at 28.41%, indicating that the company is generating healthy returns for its shareholders. Rongsheng Petro Chemical Co Ltd manufactures and supplies petrochemical products for industrial and commercial use, such as polypropylene, polyethylene, ethylene dichloride, and other related products. The company has a strong presence in the Chinese market and is expanding its footprint in other countries as well.
– Qualipoly Chemical Corp ($TWSE:4722)
Qualipoly Chemical Corp is a leading manufacturer of specialty chemicals serving the global market. With a market cap of 3.37 billion as of 2023, the company is well-positioned to continue expanding its reach and influence. Additionally, its Return on Equity (ROE) of 11.63% indicates that the company is generating impressive levels of profitability from its investments. These factors suggest that Qualipoly Chemical Corp is an attractive investment opportunity in the specialty chemicals space.
Summary
WESTLAKE CHEMICAL PARTNERS LP reported total revenue of USD 264.2 million for the quarter ending June 30 2023, a decrease of 41.1% year over year. Net income for the quarter was USD 11.9 million, a decrease of 27.7% compared to the same period in the previous year. These results indicate a decline in investment performance for the company, and investors will need to reconsider their strategies when investing in WESTLAKE CHEMICAL PARTNERS LP. Potential investors should be aware of these quarterly results before investing in the company, as well as consider any potential opportunities in the current market.
Additionally, investors should research the company’s long-term outlook and financial standing to ensure they are making wise investments.
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