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Westlake Corporation (NYSE: WLK) is a globally recognized manufacturer and supplier of petrochemicals, plastics, and fabricated products. These products play a crucial role in enhancing the daily lives of people worldwide. From the tires we ride on to the plastic wrap that keeps our food fresh, and from the pipes ensuring clean water to the frames securing our windows, Westlake Corporation's offerings are integral to a multitude of everyday applications.
Headquartered in Houston, Texas, Westlake employs approximately 4,100 people and operates from 16 locations across North America, 7 in Europe, and 1 in China. This extensive network enables the company to efficiently serve a global clientele.
Westlake Corporation's business is divided into two main segments:
- Performance and Essential Materials: This segment provides a wide range of fundamental building blocks for numerous products used in daily life, including olefins, vinyl chemicals, polyethylene, and epoxies. These materials are essential for various industries, from automotive to packaging and construction.
- Housing and Infrastructure Products: This segment focuses on producing finished goods critical to the building products, pipe and fittings, and global compounds businesses. The products in this segment support infrastructure development and housing projects, highlighting Westlake's significant role in these sectors.
Westlake Corporation prides itself on innovation and sustainability. The company has been involved in numerous projects aimed at reducing environmental impact, enhancing product performance, and ensuring safety standards. Recent achievements include advancements in polymer technology and strategic partnerships that expand their market reach and enhance product offerings.
Financially, Westlake Corporation has demonstrated robust performance, reflecting its strategic investments and market positioning. The company's financial health is supported by a strong balance sheet, consistent revenue growth, and effective cost management strategies.
For more detailed information and the latest updates, visit Westlake Corporation's official website.
Westlake Chemical Corporation (NYSE: WLK) reported a strong first quarter of 2021, with net income of $242 million, or $1.87 per diluted share, up from $145 million in Q1 2020. The increase was driven by higher sales prices and margins for polyethylene and PVC, boosted by robust demand in the construction and packaging sectors. However, challenges included increased maintenance expenses and higher feedstock costs attributed to a severe winter storm. EBITDA for the quarter reached $553 million, up from $337 million year-over-year.
Westlake Chemical Corporation (NYSE: WLK) is set to release its first quarter earnings for 2021 on May 4, 2021, before the market opens. A conference call will follow at 11:00 a.m. ET to discuss the results. Interested parties can join the call by dialing (855) 760-8160, and the call will also be available via webcast. A replay will be accessible for seven days after the event. Westlake, based in Houston, is a global manufacturer of materials for various sectors, including packaging, healthcare, and construction.
Westlake Chemical Corporation (NYSE: WLK) and the Ting Tsung and Wei Fong Chao Foundation have jointly contributed $100,000 to the Houston Harris County Winter Storm Relief Fund. This fund was created to provide emergency aid to those impacted by the February 2021 winter storm. Westlake's President and CEO, Albert Chao, emphasized the company's commitment to the Houston community, where it has operated for nearly 35 years. The company, headquartered in Houston, is a global supplier of materials for various essential industries.
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.
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