WESTLAKE CORPORATION Stock Price, News & Analysis

Westlake Royal Building Products has introduced five new colors for its Royal® Siding and Exterior Portfolio® vinyl siding lines, reflecting contemporary design trends. The colors, inspired by nature, include tones of gray, blue-gray, brown, and green. Marketing VP Steve Booz emphasized the importance of color for designers and homeowners, stating that these additions are expected to be top-sellers. The new options utilize Chromatix™ technology for fade resistance and are available across various siding formats, enhancing the company's product appeal in the competitive market.

Westlake Corporation (NYSE: WLK) has declared a regular dividend of $0.2975 per share, scheduled for payment on June 7, 2022. This dividend is aimed at stockholders of record by May 23, 2022. Notably, this marks the company's 71st consecutive quarterly dividend since its IPO in August 2004. Westlake specializes in manufacturing materials and innovative products across several sectors, including construction, packaging, and healthcare, solidifying its presence in global markets.

Westlake Royal Building Products has become the title sponsor for the National Home Remodeling Month, celebrated in May. This initiative aims to honor the remodeling industry and highlight the importance of hiring professional remodelers. Steve Booz, Vice President of Marketing, expressed the company's commitment to quality in construction. As part of the sponsorship, Westlake Royal will host events for NAHB members, including discussions on product warranties and a webinar on aging-in-place renovations. The company is a leading manufacturer of building products in North America.

Westlake Chemical Partners LP (NYSE: WLKP) reported net income of $16.2 million or $0.46 per unit for Q1 2022, a $1.1 million increase from Q1 2021. This growth stemmed from robust production volumes and solid margins on third-party sales. However, cash flows from operations decreased to $104.8 million due to payment timing. The partnership also declared a quarterly distribution of $0.4714 per unit, marking the 31st consecutive distribution. MLP distributable cash flow increased to $19.3 million, providing a coverage ratio of 1.10x for declared distributions.

Westlake Corporation (NYSE: WLK) reported record first quarter 2022 results with net sales of $4.1 billion, a 72% increase from Q1 2021, and net income of $756 million, up 212% year-over-year. EBITDA reached $1.3 billion, a 135% rise. The company expanded its portfolio through the acquisition of Hexion's global epoxy business for $1.2 billion, enhancing its market position in specialty resins. Despite economic and geopolitical volatility, Westlake remains confident in strong market demand and is committed to sustainability goals, including a 20% reduction in emissions by 2030.

The Board of Directors of Westlake Chemical Partners LP has declared a quarterly distribution of $0.4714 per unit, set to be payable on May 26, 2022. This marks the 31st quarterly distribution since the Partnership's IPO. Unit holders of record as of May 12, 2022 will receive this distribution. Additionally, non-U.S. investors' distributions are subject to federal income tax withholding at the highest applicable rate, as per Treasury regulations.

Westlake Pipe & Fittings, formerly NAPCO Pipe & Fittings, has rebranded to reflect its position as the second-largest pipe and fittings manufacturer in North America. This change emphasizes the company's robust product portfolio and the backing of Westlake Corporation (NYSE: WLK). The rebranding aims to enhance collaboration with customers and advance sustainable product development. Recent acquisition of LASCO Fittings, Inc. expands the company's market reach into new segments, providing a wider array of innovative pipe and fitting solutions.

Westlake Corporation (NYSE: WLK) will release its first-quarter 2022 earnings on May 3, 2022, prior to market opening. A conference call will take place at 11:00 a.m. Eastern Time to discuss the earnings. Callers can join by dialing (855) 760-8160, with international access at (704) 288-0624, using passcode 4246547. The call will be available via webcast and replay for seven days after the event. Westlake is a global manufacturer providing materials for various sectors, enhancing daily life with products ranging from packaging to construction.