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) reported a net income of $113 million for Q4 2020, a $41 million increase from Q4 2019. Revenue for the quarter was $1,965 million, driven by higher sales prices for polyethylene and PVC resin. However, lost sales due to hurricanes and increased maintenance costs impacted net income. For the full year 2020, net income was $330 million, down $91 million from 2019. The outlook for 2021 is positive, with expectations of continued demand growth in polyethylene and PVC, aided by rising housing starts.
The Board of Directors of Westlake Chemical Corporation (NYSE:WLK) has declared a regular dividend of $0.2700 per share for Q4 2020. This dividend is set to be paid on March 16, 2021, to shareholders on record as of March 2, 2021. This marks the 66th consecutive quarterly dividend since the company’s IPO in August 2004, demonstrating strong shareholder returns and consistent financial performance.
Westlake Chemical Corporation (NYSE: WLK) will announce its fourth quarter and full-year earnings for 2020 on February 23, 2021, before market opening. A conference call is scheduled for 11:00 a.m. ET to discuss the results. The call can be accessed by dialing (855) 760-8160 or via webcast at this link. A replay will be available post-call for seven days. Westlake is known for its innovative materials that serve various industries, from packaging to construction.
Westlake Chemical Corporation (NYSE: WLK) has appointed Roger Kearns as Executive Vice President and Chief Operating Officer, effective January 1, 2021. Kearns, who joined Westlake in 2018, will oversee chemical businesses and manufacturing operations across North America, Europe, and Asia. Albert Chao, Westlake’s President and CEO, expressed confidence in Kearns' capabilities, noting his extensive experience in the international chemical industry. Kearns previously held significant positions at Solvay SA, where he managed various global operations.
The Board of Directors of Westlake Chemical Corporation (NYSE: WLK) has declared a regular dividend of $0.2700 per share for Q3 2020. This dividend, marking the 65th consecutive quarterly distribution since the company's IPO, will be payable on December 9, 2020, to shareholders on record as of November 24, 2020. Westlake, headquartered in Houston, is a global supplier of materials and products across various sectors, including packaging, healthcare, and construction.
Westlake Chemical Corporation (NYSE: WLK) reported a net income of $57 million for Q3 2020, down from $158 million in Q3 2019, impacted by Hurricane Laura and increased costs. Q3 2020 net income per share was $0.45, while Q2 2020 was $0.11. Despite challenges, income from operations rose to $79 million from $36 million in Q2 2020, driven by higher sales volume and prices for caustic soda. For 2020, net income decreased to $217 million year-to-date, influenced by lower global sales prices and reduced volumes due to COVID-19. EBITDA was $287 million, down from $425 million in Q3 2019.
Royal Building Products, a Westlake company, is celebrating its 50th Anniversary by launching the $40,000 Celect® Canvas Beach Home Makeover Sweepstakes. In partnership with Southern Living and Sherwin-Williams, the sweepstakes offers a chance to win a beach home makeover featuring Celect Canvas Cellular PVC Siding. Eligible participants must be legal residents of select states and homeowners within 100 miles of the coast. The sweepstakes ends on 11/28/2020. For more details, visit the official entry page.
Westlake Chemical Corporation (NYSE: WLK) is set to release its third quarter 2020 earnings on November 3, 2020, before market opening. A conference call to discuss the results will take place at 11:00 a.m. ET the same day. Interested participants can join by calling (855) 760-8160 or (704) 288-0624 for international access, and a passcode of 1896958 is required. The call will also be available via webcast. A replay will be accessible for seven days post-call, using the same dialing numbers.