WESTLAKE CORPORATION Stock Price, News & Analysis

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.

Westlake Chemical Corporation (NYSE: WLK) will officially rebrand as Westlake Corporation on February 18, 2022. This change reflects a diversified business portfolio following $3.8 billion in recent acquisitions. The company will operate under two segments: Housing & Infrastructure Products and Performance & Essential Materials. Key acquisitions include LASCO Fittings, Dimex LLC, and Hexion Inc.'s global epoxy business, enhancing Westlake's position in crucial markets. The rebranding aims to better represent the expanded industries served, especially in housing and infrastructure.

Westlake Royal Building Products has introduced a new 5/8” Lap Siding profile to its TruExterior poly-ash siding line at the 2022 International Builders’ Show. This product reflects the look and performance of traditional cedar lap siding, crafted from a proprietary poly-ash material that offers durability and low maintenance. The siding mimics cedar's thickness and features a true 5/8” butt, available in 16-foot lengths. The TruExterior line requires no special tools for installation and can withstand ground contact, making it a versatile choice for builders in North America.

Westlake Royal Building Products will present its innovative range of building products at the 2022 NAHB International Builders’ Show in Orlando, Florida from February 8-10, 2022. This event marks the launch of the Westlake Royal Building Products brand, combining the strengths of Royal®, Boral®, and DaVinci brands. New products include Board & Batten siding, TruExterior 5/8” Lap Siding, and a new color for Zuri Premium Decking. The brand aims to enhance market presence with a diverse portfolio of high-quality, low-maintenance products.