WESTLAKE CORPORATION Stock Price, News & Analysis

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.

Westlake Corporation (NYSE: WLK) reported its fourth quarter and full-year 2022 results, achieving record net sales of $15.8 billion and net income of $2.2 billion. Despite these records, Q4 net income fell to $232 million from $644 million YoY, attributed to lower sales prices, unfavorable mix changes, and increased costs. Q4 EBITDA decreased to $619 million, showing a 54% drop year-over-year. The Performance and Essential Materials segment saw a 9% price decrease, while Housing and Infrastructure Products faced a 24% volume decline. Looking ahead, Westlake anticipates ongoing macroeconomic uncertainty but remains confident in its operational fundamentals.

The Board of Directors of Westlake Corporation (NYSE:WLK) has declared a $0.3570 per share dividend for the fourth quarter of 2022. This dividend is scheduled to be paid on March 16, 2023, to stockholders on record as of March 1, 2023. This marks the 74th successive quarterly dividend declared since the company's IPO in August 2004, emphasizing Westlake's commitment to returning value to its shareholders.

Westlake Corporation (NYSE: WLK) will release its Q4 and full-year 2022 earnings before the market opens on February 21, 2023. A conference call will be held at 11:00 a.m. Eastern Time to discuss the results. Participants must pre-register to access the call. The conference will also be available via webcast. Westlake is a global manufacturer supplying materials for various sectors, including housing, healthcare, and automotive. For more details, visit their website.

Westlake Chemical Partners (NYSE: WLKP) announced its fourth quarter and full year 2022 earnings release scheduled for February 21, 2023, before market opening. The company will host a conference call at 1:00 PM ET to discuss the results. Interested participants must pre-register to obtain the phone number and unique PIN for the call. The earnings release will be accessible on their official website. Westlake Chemical Partners operates, acquires, and develops ethylene production facilities, owning a 22.8% interest in Westlake Chemical OpCo LP.

Westlake Royal Building Products, a prominent manufacturer of building products in North America, has introduced six new, trendy colors to its Royal Haven® Insulated Siding and Exterior Portfolio’s CraneBoard® Solid Core Siding lines. The addition includes three dark shades for each line, enhancing design options for homeowners and professionals. These new colors are inspired by current exterior home design trends and feature Chromatix™ technology for color protection against fading. The new siding colors will be available starting February 2023, further expanding the diverse color palette offered by Westlake Royal.

Westlake Royal Building Products has launched a new Board & Batten siding profile for its Cedar Renditions aluminum siding line, enhancing design options for builders and architects in the U.S. and Canada. The Board & Batten profile features a woodgrain appearance that complements existing siding products. Additionally, two new dark blue shades, Marine Blue and Midnight Surf, have been introduced exclusively for the Canadian market. Cedar Renditions offers benefits such as fade resistance, moisture-proof quality, and ease of installation, backed by a 25-year Limited Warranty.

Westlake Royal Building Products has introduced a new Celect 11” Board & Batten profile to its existing Celect Cellular Composite Siding line. This addition is designed to enhance the visual appeal of larger homes, featuring a vertical pattern that accents various architectural elements. The product is easy to install, comes in multiple colors, and is backed by a limited lifetime warranty. The Celect siding mimics the aesthetics of wood while offering low maintenance and durability, with added benefits such as high wind resistance and UV protection.

Westlake Royal Building Products showcased its DaVinci Roofscapes line at the 2023 International Builders’ Show, focusing on the newly launched Province Slate roofing product. This premium composite slate roofing offers durability and beauty, presenting an alternative to real slate and cedar options. The products emphasize easy installation and maintenance-free benefits, with a range of colors and styles available. A notable launch was the Immersive Experience, allowing users to explore various home designs and roofing options interactively. The DaVinci Color Visualizer tool was re-launched, enhancing customer engagement by allowing users to visualize roofing options on their homes.