secwatch.observer — SEC 8-K summary
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Issuer:     WESTLAKE CORP (WLK)
CIK:        0001262823
Form:       8-K
Filed at:   2022-11-03T23:59:59+00:00
Accession:  0001262823-22-000050
Event type: earnings
Sentiment:  negative
Materiality: 0.80
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Westlake Q3 net income down 34% YoY to $401M; $70M legal charge; macro headwinds
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- Net income $401M ($3.10 EPS) vs $607M ($4.69) YoY; includes $70M legal charge ($0.42/share after-tax).
- Revenue $3,956M, up 29% YoY but down 12% seq; lower volumes and pricing across most segments.
- PEM EBITDA $561M (21% margin), down 41% YoY; HIP EBITDA $254M (20% margin), up 85% YoY.
- CEO cites eroding macro, higher energy costs, slowing US residential construction, caustic soda strength.
- Free cash flow $629M in Q3; cash $1,778M, total debt $4,819M; strong balance sheet.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1262823/000126282322000050/0001262823-22-000050-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1262823/000126282322000050/wlk-20221103.htm
  HTML page:      https://secwatch.observer/filing/0001262823-22-000050

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer