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Q3 net drops 13.7% at Westlake Chemical Partners
Nov '16
Courtesy: Westlake Chemical
Courtesy: Westlake Chemical
For the third quarter ended September 30, 2016, net income at Westlake Chemical Partners fell $1.4 million or 13.7 per cent to $8.7 million or $0.32 per limited partner unit. This compares with net income attributable to the Partnership of $10.1 million, or $0.37 per limited partner unit in the corresponding quarter of the previous year.

According to the petrochemicals producer, the drop in net income was primarily due to lower operating rates at Westlake Chemical OpCo LP's Petro 1 facility in Lake Charles, Louisiana.

“The third quarter 2016 results were also negatively impacted by lost production as a result of an unplanned outage at OpCo's Calvert City, Kentucky facility,” the company said.

The board of directors of Westlake Chemical Partners announced a distribution of $0.3353 as dividend for the third quarter of 2016, which is an increase of 12.0 per cent compared to the third quarter of 2015. (AR)

Fibre2Fashion News Desk – India

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