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Westlake (NYSE: WLK) will showcase its sustainable solutions at NPE 2024, focusing on essential products for various sectors like healthcare, automotive, and food packaging. The company is committed to sustainability and delivering high-value products that enhance everyday life. Westlake will exhibit products like PVCO pipe, Pivotal™ Polyethylene, Pivotal™ PVC Compounds, and GreenVin™ bio-attributed PVC at the event.
Westlake Water Solutions, a business unit of Westlake (NYSE: WLK), and NSF International are emphasizing the importance of using properly specified chlorine tablets in commercial pools to ensure water safety. They remind health inspectors and pool operators about the risks of improper chlorination due to heavy bather loads, rain, and UV rays. NSF certifies pool products to maintain compliance with standards, and organizations like CDC and American Chemistry Council provide tools for safe chemical application.
Westlake Chemical Partners LP (WLKP) reported net income of $14.8 million for Q1 2024, in-line with Q1 2023. Cash flows decreased to $104.6 million due to working capital changes. MLP distributable cash flow was $16.9 million, down $0.7 million from Q1 2023. Despite lower production and sales volume, net income saw a slight increase from Q4 2023. The quarterly distribution of $0.4714 per unit was declared, marking the 39th consecutive distribution. The partnership remains optimistic for 2024, citing stable demand for ethylene derivative products and favorable margins.
Westlake (NYSE: WLK) reported first quarter 2024 results with record earnings from its HIP segment and a 29% increase in EBITDA. The company achieved net sales of $3.0 billion, net income of $174 million, and EBITDA of $546 million. Hip segment sales volume grew 12% sequentially, while PEM segment sales volume increased by 3%. HIP's EBITDA margin expanded to 25%, and PEM's margin increased to 13% from the previous quarter. The company remains optimistic about future growth in the HIP segment despite macroeconomic challenges affecting the PEM segment.
Westlake Chemical Partners LP announced a distribution of $0.4714 per unit payable on May 29, 2024, marking its 39th quarterly distribution since going public. The distribution is subject to federal income tax withholding for non-U.S. investors.
Westlake Royal Building Products™ (NYSE:WLK) has become the title sponsor for the National Association of Home Builders (NAHB) National Home Remodeling Month Initiative for the third consecutive year. The initiative aims to recognize the remodeling industry, professionals, and the benefits of hiring professional remodelers. Westlake Royal will sponsor 'Shop Talk' presentations and a webinar to support NAHB's members.
