Westlake Chemical Partners LP (NYSE: WLKP) reported Q4 EPS of $0.49, $0.02 better than the analyst estimate of $0.47. Revenue for the quarter came in at $272.8 million versus the consensus estimate of $317.07 million.

"We are pleased with the Partnership's record operational and financial performance. In 2019, we completed the third dropdown of interest in OpCo into the Partnership and achieved record income and distributable cash flow. As we enter 2020, we continue to reap benefits of the investments made to grow our earnings, cash flows and production while continuing to strengthen the Partnership," said Albert Chao, President and Chief Executive Officer. "Anchored by a strong relationship with our sponsor, Westlake Chemical, we will continue to take steps to maximize long-term value to unitholders. This quarter we increased our distribution for the 20th consecutive quarter, sustaining our top-tier distribution growth rate while continuing to deliver on our objective of reducing our reliance on the equity markets to align with our future capital requirements. As we navigate evolving market conditions, we continue to evaluate potential opportunities via our four levers of growth, including organic expansions of our current ethylene facilities, continuation of periodic dropdowns of interest in OpCo, acquisitions of other qualified income streams and a higher fixed-margin in our Ethylene Sales Agreement with Westlake. We are excited about continuing to deliver growth and long-term value to our unitholders."

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