Westlake Corp Q2 2023 Earnings Call Summary - Thomson StreetEvents

Westlake Corp Q2 2023 Earnings Call Summary

Westlake Corp Q2 2023 Earnings Call Summary - Thomson StreetEvents
Westlake Corp Q2 2023 Earnings Call Summary
Published Aug 03, 2023
17 pages (8898 words) — Published Aug 03, 2023
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Abstract:

Edited Brief of WLK.N earnings conference call or presentation 3-Aug-23 3:00pm GMT

  
Brief Excerpt:

...A. For the second quarter of 2023, we reported sales of $3.3 billion, net income of $297 million and EBITDA of $690 million. B. In our PEM segment, the continuation of soft industrial and construction activity and unplanned maintenance activities drill sales volumes declines, particularly impacting PVC resin, caustic soda and epoxy in North America and Europe. C. The elevated level of unplanned outages resulted in lost sales that impacted operating income by approximately $50 million. D. While our PEM segment average selling prices were lower than in the first quarter, we benefited from our strategically located globally advantaged feedstock position in North America, where we saw lower feedstock and fuel costs compared to the first quarter. E. In our HIP segment, we experienced an increase in sales volumes quarter-over-quarter with the start of the construction season in North America with housing starts in the second quarter averaging 1.4 million units and repair and modeling continuing...

  
Report Type:

Brief

Source:
Thomson StreetEvents
Company:
Westlake Corp
Ticker
WLK.N
Time
3:00pm GMT
Format:
PDF Adobe Acrobat
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The following is excerpted from the question-and-answer section of the transcript.

(Questions from industry analysts are provided in full, but answers are omitted - download the transcript to see the full question-and-answer session)

Question: Christopher Silvio Perrella - UBS Investment Bank, Research Division - Analyst : It's Chris Perrella on for Josh. I wanted to follow up on the outlook for the third quarter in the PEM segment. With the volumes being impacted by turnarounds in the second quarter, how -- what is the volume improvement that you're looking for sequentially in the third quarter? And then are you expecting normal seasonality in the fourth quarter? What's the outlook there?

Question: Christopher Silvio Perrella - UBS Investment Bank, Research Division - Analyst : But what were they doing underlying, I guess, in the second quarter that you should see something similar in the third quarter absent the turnaround -- the unplanned turnarounds?

Question: Christopher Silvio Perrella - UBS Investment Bank, Research Division - Analyst : All right. And then just a follow-up, one quick one on the pricing that I think Albert called out average PEM pricing at the end of June was below the 2Q average. How does it lag through -- how do your -- does your pricing lag? And how quickly can it improve over the course of 3Q?

Table Of Contents

Westlake Corp Q3 2024 Earnings Call Summary – 2024-11-05 – US$ 54.00 – Edited Brief of WLK.N earnings conference call or presentation 5-Nov-24 4:00pm GMT

Westlake Corp Host Housing and Infrastructure Products-Focused Investor Event Summary – 2024-06-13 – US$ 54.00 – Edited Brief of WLK.N corporate analyst meeting</ 13-Jun-24 1:00pm GMT

Westlake Corp Host Housing and Infrastructure Products-Focused Investor Event Transcript – 2024-06-13 – US$ 54.00 – Edited Transcript of WLK.N corporate analyst meeting</ 13-Jun-24 1:00pm GMT

Westlake Corp Q3 2023 Earnings Call Transcript – 2023-11-02 – US$ 54.00 – Edited Transcript of WLK.N earnings conference call or presentation 2-Nov-23 3:00pm GMT

Westlake Corp Q2 2023 Earnings Call Transcript – 2023-08-03 – US$ 54.00 – Edited Transcript of WLK.N earnings conference call or presentation 3-Aug-23 3:00pm GMT

Westlake Corp at Goldman Sachs Industrials & Materials Conference Transcript – 2023-05-09 – US$ 54.00 – Edited Transcript of WLK.N presentation 9-May-23 12:40pm GMT

Westlake Corp Q1 2023 Earnings Call Transcript – 2023-05-04 – US$ 54.00 – Edited Transcript of WLK.N earnings conference call or presentation 4-May-23 3:00pm GMT

Westlake Corp Q4 2022 Earnings Call Transcript – 2023-02-21 – US$ 54.00 – Edited Transcript of WLK.N earnings conference call or presentation 21-Feb-23 4:00pm GMT

Westlake Corp at Citi Basic Materials Conference Transcript – 2022-11-29 – US$ 54.00 – Edited Transcript of WLK.N presentation 29-Nov-22 7:00pm GMT

Westlake Corp Q3 2022 Earnings Call Transcript – 2022-11-03 – US$ 54.00 – Edited Transcript of WLK.N earnings conference call or presentation 3-Nov-22 3:00pm GMT

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Cite this Report

  
MLA:
Thomson StreetEvents. "Westlake Corp Q2 2023 Earnings Call Summary" Aug 03, 2023. Alacra Store. May 04, 2025. <http://www.alacrastore.com/thomson-streetevents-transcripts/Q2-2023-Westlake-Corp-Earnings-Call-B15666086>
  
APA:
Thomson StreetEvents. (2023). Westlake Corp Q2 2023 Earnings Call Summary Aug 03, 2023. New York, NY: Alacra Store. Retrieved May 04, 2025 from <http://www.alacrastore.com/thomson-streetevents-transcripts/Q2-2023-Westlake-Corp-Earnings-Call-B15666086>
  
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