Westlake Q2 net income falls to $297M from $858M YoY; EBITDA down 53%

WESTLAKE CORP

2023-Q2 EPS reported $5.35 revenue$6,607,000,000

Net sales $3.25B (down 27% YoY); diluted EPS $2.31 vs $6.60 YoY.
PEM segment EBITDA $435M (down 63% YoY); unplanned outages impacted by ~$50M.
HIP segment EBITDA $244M (down 21% YoY) but up 19% QoQ on seasonal volume.
Cash from ops $555M, free cash flow $315M; raising 2023 cost savings target to $75-$105M.
Balance sheet: $2.68B cash, $4.89B debt at 3.2% avg rate, >16 yr maturity.

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 second quarter 2023 results: revenue $3,251 million, net income $297 million, EPS $2.31 per share.

Period: second quarter 2023
Revenue: $3,251 million
Net income: $297 million
EPS: $2.31 per share
Result: reported results

Exact text from the filing

value." RESULTS Consolidated Results For the three months ended June 30, 2023, the Company reported quarterly net income of $297 million, or $2.31 per share, on net sales of $3,251 million. The year-over-year decrease in net income of $561 million from the second quarter of 2022 was primarily due to lower average sales prices and integrated margins in Performance

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Source: SEC EDGAR

accession 0001262823-23-000029

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