RA81035
RA81025
International Builders' Show
Westlake Royal Building Products will be in Las Vegas, NV for the the International Builders' Show.
Booth Information: Westlake Royal Building Products, booth #C3819
Westlake Corporation Declares Quarterly Dividend
$0.500 per share dividend declared payable on December 6, 2023 The Board of Directors of Westlake Corporation (NYSE: WLK) today declared a regular dividend distribution of 50 cents per share for the third quarter of 2023. This dividend will be payable on December 6, 2023, to stockholders of record on November 21, 2023. This is the 77th successive quarterly dividend that Westlake has declared since completing its initial public offering in August 2004. The statements in this release that are not historical facts, including statements regarding future repurchases of common stock, are forward-looking statements. These forward-looking statements are subject to significant risks and uncertainties. Actual results could differ materially, based on factors including, but not limited to, the ultimate timing, outcome and results of integrating the operations of recent acquisitions; general economic and business conditions; the cyclical nature of the chemical and building products industries;
Westlake Corporation Reports Third Quarter 2023 Results
Record Housing and Infrastructure Products segment income from operations of $256 million Record Housing and Infrastructure Products segment EBITDA of $327 million Net cash provided by operating activities of $696 million and free cash flow of $451 million Westlake Corporation (NYSE: WLK) (the "Company" or "Westlake") today announced third quarter 2023 results. SUMMARY FINANCIAL HIGHLIGHTS ($ in millions except per share data) Three Months Ended September 30, 2023 Three Months Ended June 30, 2023 Three Months Ended September 30, 2022 Westlake Corporation Net sales $ 3,115 $ 3,251 $ 3,956 Income from operations $ 349 $ 396 $ 516 Operating income margin 11% 12% 13%
Westlake Chemical Partners LP Announces Third Quarter 2023 Results
Declared quarterly distribution of $0.4714 per unit; 37 th consecutive quarterly distribution Westlake Chemical Partners LP (NYSE: WLKP) (the "Partnership") today reported net income attributable to the Partnership in the third quarter of 2023 of $13.2 million, or $0.37 per limited partner unit, compared to third quarter 2022 net income of $14.8 million. The reduction in Partnership net income in the third quarter of 2023 compared to the third quarter of 2022 was the result of higher interest expense attributable to higher interest rates on floating rate debt. Cash flows from operating activities in the third quarter of 2023 were $100.9 million, a decrease of $14.6 million compared to third quarter 2022 cash flows from operating activities of $115.5 million. The decrease was primarily due to lower Partnership net income and less favorable working capital changes. For the three months ended September 30, 2023, MLP distributable cash flow was $13.6 million, a decrease of $3.1 million
Westlake Chemical Partners LP Announces Third Quarter 2023 Distribution
$0.4714 per unit distribution declared payable on November 27, 2023 The Board of Directors of Westlake Chemical Partners GP LLC, the general partner of Westlake Chemical Partners LP (the "Partnership") (NYSE:WLKP), has declared a distribution of $0.4714 per unit. This is the 37th quarterly distribution announced by the Partnership since its initial public offering. The distribution will be payable on November 27, 2023, to unit holders of record on November 10, 2023. This release is intended to be a qualified notice under Treasury Regulation Section 1.1446-4(b). Brokers and nominees should treat one hundred percent (100.0%) of the Partnership’s distributions to non-U.S. investors as being attributable to income that is effectively connected with a United States trade or business. Accordingly, the Partnership’s distributions to non-U.S. investors are subject to federal income tax withholding at the highest applicable effective tax rate. About Westlake Chemical Partners LP Westlake
Westlake Releases 2022 Environmental, Social and Governance Report
Westlake Corporation (NYSE: WLK) today released its 2022 Environmental, Social and Governance (ESG) report, which marks the company’s sixth annual update on sustainability advances and initiatives in products and operations. This year, the report includes certain metrics established by the Global Reporting Initiative (GRI) and Sustainability Accounting Standards Board (SASB). Further, in the fourth quarter of 2022, Westlake performed a Task Force on Climate-Related Disclosures (TCFD) Gap Assessment, and the 2022 ESG report includes the company’s first TCFD disclosures, thus laying the groundwork to work toward reporting against the TCFD standards. The report provides progress on the company’s goal to reduce carbon intensity in operations. It also includes five new ESG goals – for water, health & safety, community engagement, diversity & inclusion, and circular economy. Westlake operates sites in North America, Europe and Asia and views goal setting and increasing alignment
Westlake Announces Third Quarter 2023 Earnings Conference Call
Westlake Corporation (NYSE: WLK) will release its third quarter 2023 earnings prior to the market opening on Thursday, November 2, 2023. The company will host a conference call at 11:00 a.m. Eastern Time (10:00 a.m. Central Time) on the same day to discuss the earnings release. To access the conference by phone, it is necessary to pre-register at https://register.vevent.com/register/BIf37d4bda7ce244168b3b62b894d43e67 . Once registered, you will receive a phone number and unique PIN number. When you dial in, you will input the PIN number to be placed into the call. The conference call and replay will be available via webcast at https://edge.media-server.com/mmc/p/5953h5g5 and the earnings release can be obtained via the company’s Web page at https://investors.westlake.com/news/default.aspx . About Westlake: Westlake is a global manufacturer and supplier of materials and innovative products that enhance life every day. Headquartered in Houston, with operations in Asia, Europe and North