WESTLAKE CORPORATION Stock Price, News & Analysis

Westlake Corporation (NYSE: WLK) announced that its Pernis, Netherlands site received the ISCC+ certification, validating its sustainable production of epoxy products. This certification supports Westlake's strategy to incorporate renewable carbon materials and decrease energy use and greenhouse gas emissions. The site will utilize bio-based alternatives for critical building blocks like Bisphenol A (BPA). Recently, Westlake Epoxy also achieved a Platinum rating from EcoVadis, signifying its commitment to sustainability across various industries including automotive and construction.

Westlake Chemical Partners LP (NYSE: WLKP) filed its Annual Report on Form 10-K for the fiscal year ending December 31, 2021, with the Securities and Exchange Commission on March 2, 2022. Unitholders can request a hard copy of the report, which includes audited financial statements, at no charge. Westlake Chemical Partners operates ethylene production facilities, holding a 22.8% stake in Westlake Chemical OpCo LP, which has assets in Kentucky and Louisiana. More details can be found on their website.

Westlake Chemical Partners L.P. (NYSE:WLKP) announced that its 2021 tax packages, including Schedule K-1s, are now available online. Unit holders can access their K-1s on the K-1 Tax Package Support website at www.taxpackagesupport.com/wlkp. The partnership plans to begin mailing K-1s by mid-March. First-time users will need to register for online access. For further assistance, unitholders can contact K-1 Tax Package Support at (888) 826-8318 during weekdays from 8 a.m. to 5 p.m. CT.

Westlake Chemical Partners LP (NYSE: WLKP) declared a quarterly distribution of $0.4714 per unit, marking the 30th consecutive quarterly distribution. The Partnership reported record net income of $29.5 million for Q4 2021, a significant increase from $15 million in Q4 2020. Full-year net income reached $82.5 million, up from $66.2 million in 2020. The cash flows from operating activities for the full year were $408.4 million, reflecting a $35 million increase year-over-year. The Partnership's long-term Ethylene Sales Agreement with Westlake supports stable cash flows, despite operational challenges in 2021.

Westlake Corporation (NYSE: WLK) announced record financial results for 2021, achieving net sales of $11.8 billion (up 57% from 2020) and net income of $2.0 billion (up 511%). EBITDA reached $3.7 billion, a 196% increase. The company completed transformational investments of approximately $3.8 billion and restructured its business into two segments: Performance and Essential Materials and Housing and Infrastructure Products. Despite challenges from natural disasters and the pandemic, the company remains optimistic about favorable market conditions in 2022.

Westlake Corporation (NYSE: WLK) aims to achieve a 20% reduction in Scope 1 and Scope 2 CO₂ equivalent emissions per ton of production by 2030, using 2016 as a baseline. To facilitate this goal, the company plans to invest in both proven and emerging technologies, focusing on energy efficiency, less carbon-intensive power sources, and incorporating hydrogen as a fuel. Recent milestones include lower-emission products and acquisitions aimed at enhancing sustainability. Westlake will continue to report sustainability metrics according to established frameworks.

The Board of Directors of Westlake Corporation (NYSE:WLK) has declared a regular dividend of $0.2975 per share for Q4 2021, payable on March 15, 2022. Stockholders on record as of March 1, 2022 will receive this dividend. This marks the 70th consecutive quarterly dividend since Westlake's IPO in August 2004, showcasing the company's commitment to returning value to its shareholders.

Westlake Chemical Corporation (NYSE: WLK) will host its inaugural Investor Day on April 7, 2022, at 9:00 a.m. Eastern Time in New York City. Key executives, including Albert Chao and Steve Bender, will present the company's long-term strategic vision, financial outlook, and capital allocation priorities. The event highlights Westlake’s diversified portfolio across several industries, including construction, automotive, and healthcare. Attendance will be limited due to COVID-19, but a live webcast will be available on westlake.com.