Westlake Q1 net income $394M, up 70% seq but down 48% YoY

WESTLAKE CORP

2023-Q1 EPS reported $3.05 revenue$3,356,000,000

Diluted EPS $3.05 vs $5.83 YoY and $1.79 Q4 2022; net sales $3.356B down 17% YoY.
EBITDA $825M, up 33% from Q4 2022, down 37% YoY; EBITDA margin 25%.
PEM segment EBITDA $615M (26% margin) vs $443M (19%) Q4; HIP EBITDA $205M (20%) vs $133M (14%).
Cost savings $25M achieved in Q1 toward 2023 target of $55–$105M; cash $2.414B, debt $4.892B.
Management cautious on macro due to rising interest rates but optimistic for typical Q2 seasonality.

item 2.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

WESTLAKE CORP reported first quarter 2023 results: revenue $3,356 million, net income $394 million, EPS $3.05.

Period: first quarter 2023
Revenue: $3,356 million
Net income: $394 million
EPS: $3.05
Result: reported results

Exact text from the filing

For the three months ended March 31, 2023, the Company reported quarterly net income of $394 million, or $3.05 per share, on net sales of $3,356 million.

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Source: SEC EDGAR

accession 0001262823-23-000017

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