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.
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.