Welcome to our dedicated page for WESTLAKE news (Ticker: WLK), a resource for investors and traders seeking the latest updates and insights on WESTLAKE stock.
Westlake Corporation reports news around its global materials and building-products operations, organized around Performance and Essential Materials and Housing and Infrastructure Products. Updates commonly cover earnings, segment pricing and volume trends, olefins, vinyl chemicals, polyethylene, epoxies, building products, pipe and fittings, facility actions, product certifications, distribution launches, litigation matters and leadership changes.
The company also appears in updates involving Westlake Royal Building Products, Westlake Epoxy and its relationship with Westlake Chemical Partners LP, a limited partnership formed by Westlake to operate, acquire and develop ethylene production facilities and other qualified assets.
Westlake Chemical Corporation (NYSE: WLK) has announced the launch of GreenVin™ Polyvinyl Chloride (PVC) through its Vinnolit subsidiary in Germany. This lower-carbon PVC product aims to meet rising market demand for sustainable materials, saving approximately 25% in carbon dioxide emissions compared to traditional PVC. The initiative follows the earlier introduction of lower carbon caustic soda in February 2021. GreenVin™ supports Westlake's broader commitment to sustainability and environmentally friendly practices in chemical production.
The Board of Directors of Westlake Chemical Corporation (NYSE:WLK) has declared a dividend of $0.2975 per share for Q3 2021. This dividend will be paid on December 8, 2021, to stockholders on record as of November 23, 2021. This marks the 69th consecutive quarterly dividend since the company's IPO in August 2004. Westlake is a major global supplier of materials and products for various industries, enhancing the quality of life.
Westlake Chemical Partners LP (NYSE: WLKP) announced a quarterly distribution of $0.4714 per unit, marking the 29th consecutive distribution. In Q3 2021, net income decreased to $12.8 million, down from $18.5 million in Q3 2020, primarily due to reduced sales and planned production outages. Cash flows from operating activities dropped to $99.5 million, down $17.7 million year-over-year. The Partnership reports a trailing twelve-month MLP distributable cash flow coverage of 1.06x. The CEO expressed confidence in future cash flows and market demand for their products.
Westlake Chemical Corporation (NYSE: WLK) announced record quarterly results for Q3 2021, reporting net sales of $3.1 billion and net income of $607 million, marking a significant increase from $57 million in Q3 2020. EBITDA reached a record $1.1 billion, driven by higher sales prices and strong demand in both the Vinyls and Olefins segments. The company completed acquisitions of Boral North America, Dimex LLC, and LASCO Fittings, expanding its footprint in sustainable building products. Cash provided by operations was $755 million, while long-term debt stood at $5.2 billion.
The Board of Directors of Westlake Chemical Partners GP LLC has declared a distribution of $0.4714 per unit, payable on November 29, 2021, to unit holders of record as of November 12, 2021. This marks the 29th consecutive quarterly distribution since the Partnership's IPO. Non-U.S. investors should note that distributions are subject to federal income tax withholding. Westlake Chemical Partners, headquartered in Houston, holds a 22.8% interest in Westlake Chemical OpCo LP, which operates multiple ethylene production facilities.
Westlake Chemical Corporation (NYSE: WLK) will release its third quarter earnings for 2021 on November 2, 2021, before market opening. A conference call is scheduled for 11:00 a.m. Eastern Time to discuss these earnings. Investors can join via phone or access the webcast through the company’s website. A replay of the call will be available for seven days. Westlake is known for manufacturing and supplying materials that contribute to various industries, including packaging, healthcare, automotive, and construction.
Westlake Chemical Partners (NYSE: WLKP) is set to release its third quarter earnings for 2021 on Tuesday, November 2, 2021, before the market opens. A conference call will follow at 12:00 p.m. ET to discuss the earnings. Interested participants can join the call by dialing (855) 765-5686, or via webcast. Westlake Chemical Partners, headquartered in Houston, holds a 22.8% interest in Westlake Chemical OpCo LP, which operates multiple ethylene production facilities.
Westlake Innovations, a subsidiary of Westlake Chemical (NYSE: WLK), has partnered with Nexii Building Solutions to promote sustainable construction practices. As the preferred supplier, Westlake will provide building materials like siding and roofing for Nexii's eco-friendly projects. This alliance aligns with Westlake's commitment to environmental sustainability, further bolstered by its recent acquisitions of Dimex and Boral's North American building products divisions. Nexii's innovative Nexiite material enables faster construction and minimizes onsite waste, making it a significant player in green building technology.
Westlake Chemical Corporation (NYSE: WLK) announced the completion of its acquisition of Boral Limited’s North American building products businesses for $2.15 billion. This all-cash transaction includes leading brands in premium roofing, siding, trim, shutters, decorative stone, and windows. The acquisition is expected to significantly broaden Westlake’s footprint in the growing North American housing and light commercial markets, projected to grow by approximately 15% over the next three years. The move aims to enhance sustainable product offerings and is anticipated to be accretive to earnings in the first full year of combined operations.
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