WESTLAKE CORPORATION Stock Price, News & Analysis

Westlake Chemical Partners (NYSE: WLKP) will announce its first quarter 2023 earnings on May 4, 2023, before market open. A conference call to discuss the results is scheduled for 1:00 p.m. Eastern Time on the same day. Investors can pre-register for the call to receive a unique PIN for audio access. The call will be available for replay via a webcast. Westlake Chemical Partners, based in Houston, operates and develops ethylene production facilities, holding a 22.8% interest in Westlake Chemical OpCo LP, which owns three ethylene production sites in Kentucky and Louisiana. More details on the earnings release will be available on their website.

Westlake Corporation (NYSE: WLK) is set to announce its first quarter 2023 earnings before the market opens on May 4, 2023. A conference call will follow at 11:00 a.m. Eastern Time to discuss the earnings results in detail. Investors can pre-register for the conference call online to receive dial-in information. The earnings release will be available on Westlake's investor relations website, along with a replay of the conference call via webcast.

Westlake operates on a global scale, providing essential materials for various sectors including housing, construction, packaging, healthcare, automotive, and consumer goods. The company's commitment to innovation and quality service underscores its position in the market.

Westlake Innovations, a subsidiary of Westlake Corporation (NYSE: WLK), has invested in the Circular Plastics Fund (CPF), aiming to promote a sustainable future through advanced recycling technologies. The CPF, an EU-regulated Article 9 impact fund managed by Infinity Recycling, focuses on converting over 85% of global plastic waste into new materials, contributing to a circular economy. This initiative aligns with Westlake's commitment to reducing the carbon footprint of plastic production and addressing the plastic waste crisis. Founded in 2019, Infinity Recycling oversees the CPF's strategy to drive value creation in advanced recycling and meet the rising demand for recycled commodities.

Westlake Royal Building Products has launched a new contractor loyalty program called PROS Perks, aimed at rewarding both new and existing customers. The program is designed to be user-friendly, allowing participants to earn points based on their spending, which can be redeemed for gift cards and Visa Reward Cards. The initiative includes products from 13 of Westlake's brands, ensuring a diverse selection. As stated by Steve Booz, Vice President of Marketing, the program aims to provide a hassle-free experience while valuing customer loyalty.

Westlake Corporation (NYSE: WLK) announced the launch of its new AZURES™ product range at the European Coatings Show 2023 in Nuremberg, Germany, from March 28 to 30, 2023. The AZURES™ lineup includes epoxy resins, modifiers, and curing agents that are free of SVHC- and CMR-labelled substances, offering sustainable alternatives in coatings and adhesives without sacrificing performance. Additionally, Westlake Epoxy received the 2022 Platinum Medal from EcoVadis for sustainability and achieved ISCC+ certification at its Pernis site in the Netherlands.

Westlake Corporation (NYSE: WLK) has successfully completed its first sale of certified mass balanced Bisphenol A (BPA) at its Pernis site in the Netherlands. The site has also achieved mass balance certification for tracing sustainable materials in epoxy production, part of its strategy to incorporate renewable resources while reducing greenhouse gas emissions. All hydrocarbon feedstocks used in producing liquid epoxy resins are certified as replaceable by bio-based alternatives. Furthermore, Westlake Epoxy recently earned a second Platinum rating from EcoVadis for its sustainability efforts, which includes serving various industries from aerospace to construction.

Westlake Chemical Partners LP (NYSE: WLKP) filed its Annual Report on Form 10-K for the fiscal year ended December 31, 2022, with the Securities and Exchange Commission on March 1, 2023. This report includes complete audited financial statements, available free of charge to unitholders upon request. Westlake Chemical Partners operates and develops ethylene production facilities, owning a 22.8% interest in Westlake Chemical OpCo LP, which has facilities in Calvert City, Kentucky, and Lake Charles, Louisiana, processing ethane and propane into ethylene. More information is available on their website.

Westlake Chemical Partners LP (NYSE: WLKP) reported a net income of $16.8 million, or $0.48 per limited partner unit, for Q4 2022, down from $29.5 million in Q4 2021. This decrease was attributed partly to a lower buyer deficiency fee and increased interest expenses. Cash flows from operating activities rose to $122.6 million, up by $100.7 million year-over-year, driven by higher production. The company declared a quarterly distribution of $0.4714 per unit, marking its 34th consecutive payment. Despite challenges like low ethylene sales margins and high interest rates, management remains optimistic for 2023, supported by stable cash flows from their agreement with Westlake.