secwatch.observer — SEC 8-K summary
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Issuer:     WESTLAKE CORP (WLK)
CIK:        0001262823
Form:       8-K
Filed at:   2023-05-04T23:59:59+00:00
Accession:  0001262823-23-000017
Event type: earnings
Sentiment:  neutral
Materiality: 0.70
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1262823/000126282323000017/0001262823-23-000017-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1262823/000126282323000017/wlk-20230504.htm
  HTML page:      https://secwatch.observer/filing/0001262823-23-000017

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