U.S. ethylene producer's Q2 revenue was flat yr/yr
Net income attributable to the partnership slipped to $14.2 mln from $14.6 mln yr/yr
Outlook and result drivers
Company expects to continue providing strong returns and predictable cash flows to unitholders
Higher production and sales volume - Co said increased production and sales volume supported cash flow and distributable cash flow growth, following prior year's Petro 1 turnaround
Higher third-party ethylene prices - Co said it benefited from higher third-party ethylene prices in the quarter
Key details and analyst coverage
Metric
Beat/Miss
Actual
Consensus Estimate
Q2 Revenue
$297.10 mln
Q2 EPS
$0.40
Q2 EBITDA
$122.69 mln
Q2 Gross Profit
$94.81 mln
Q2 Income from Operations
$87.31 mln
The one available analyst rating on the shares is "buy"
The average consensus recommendation for the commodity chemicals peer group is "buy"
Wall Street's median 12-month price target for Westlake Chemical Partners LP is $28.00, about 31.6% above its August 3 closing price of $21.27
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