Filing Flows › Westlake Chemical Partners LP (WLKP) › Q1 2026
Westlake Chemical Partners LP (WLKP) Q1 2026 earnings results (first quarter 2026)
10-Q filed May 6, 2026
Westlake Chemical Partners LP (WLKP) reported revenue of $306M for the first quarter 2026 (Q1 2026), +29% from a year earlier and -5% from the quarter before. Operating margin was 28.3%, net earnings $14.2M (4.6% of revenue).
Westlake Chemical Partners LP, Q1 2026: revenue $306M (+29% year over year), operating margin 28.3%, net earnings $14.2M, operating cash flow $110M. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $306M | -5% | +29% |
| Gross profit | $93.8M | -3% | +73% |
| Operating profit | $86.6M | -4% | +86% |
| Net earnings | $14.2M | -3% | +186% |
| Operating cash flow | $110M | -8% | +141% |
| Free cash flow | $105M | -6% | +251% |
What changed
Revenue was $305.7M in Q1 2026, up 29% year over year and down 5% from the previous quarter.
Gross margin was 30.7%, up 7.9 points from Q1 2025. Operating profit was $86.6M, a 28.3% margin (up 8.7 points year over year). Of the extra revenue versus Q1 2025, 59% reached operating profit, above the 20% margin then. Operating expenses fell 4% while revenue rose 29%. Net earnings were $14.2M, up 186% year over year. The effective tax rate was 0.2%.
Operating cash flow was $110.2M (up 141% year over year), 135% of net income including minority interests. Non-cash charges added back $34.3M of depreciation and amortization. Working capital and other items used $5.8M. Capital expenditures of $5.6M left free cash flow of $104.6M.
Questions
What was Westlake Chemical Partners LP's revenue in the first quarter 2026?
Westlake Chemical Partners LP (WLKP) reported revenue of $306M for the first quarter 2026 (Q1 2026), +29% from a year earlier and -5% from the quarter before.
Was Westlake Chemical Partners LP profitable in the first quarter 2026?
Operating profit was $86.6M (28.3% of revenue) and net earnings $14.2M.