WESTLAKE CORPORATION Stock Price, News & Analysis

Westlake Corporation (NYSE: WLK) reported record second quarter 2022 results, with net sales reaching $4.5 billion, up 57% year-over-year. Net income was $858 million, a 64% increase, while EBITDA stood at $1.5 billion, reflecting a 56% rise. The Performance and Essential Materials segment drove this growth with a 32% increase in overall prices and a 25% volume surge, fueled by strategic acquisitions and strong demand, especially in housing and infrastructure products. Despite higher costs, margins expanded due to effective pricing strategies.

The Board of Directors of Westlake Chemical Partners has declared a quarterly distribution of $0.4714 per unit, payable on August 25, 2022, to unit holders of record by August 11, 2022. This marks the 32nd quarterly distribution since its IPO. The Partnership, operating and developing ethylene production facilities, holds a 22.8% interest in Westlake Chemical OpCo LP, which owns three processing facilities in Kentucky and Louisiana. Non-U.S. investors are subject to federal income tax withholding on distributions.

Westlake Chemical Partners (NYSE: WLKP) is set to release its second quarter 2022 earnings on August 2, 2022, prior to the market opening. A conference call will be held at 1:00 p.m. Eastern Time to discuss the earnings. Interested participants must pre-register to access the call via phone, with details available on their website. The call will also be accessible via webcast. Westlake Chemical Partners focuses on operating, acquiring, and developing ethylene production facilities, holding a 22.8% interest in Westlake Chemical OpCo LP, which operates three facilities in Kentucky and Louisiana.

Westlake Corporation (NYSE: WLK) will announce its second quarter 2022 earnings on August 2, 2022, before the market opens. A conference call to discuss the earnings will be held at 11:00 a.m. ET, accessible via phone and webcast. Interested parties can dial (800) 715-9871 for domestic calls or (646) 307-1963 for international access. A replay of the call will be available shortly after its conclusion. Westlake is a global manufacturer providing essential materials across various sectors, including construction and healthcare.

Westlake Royal Building Products has launched Province Slate, a new composite slate roofing tile that offers a traditional slate appearance with modern durability. This 12-inch tile features an 8-inch exposure and is Class A fire-rated and Class 4 impact-rated, suitable for various climates. Made from virgin resins and fire retardants, it ensures low maintenance and comes with a Lifetime Limited Materials Warranty. Available in six popular colors, Province Slate provides a cost-effective solution compared to traditional slate and high-end roofing options.

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.