secwatch.observer — SEC 8-K summary
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Issuer:     WESTLAKE CORP (WLK)
CIK:        0001262823
Form:       8-K
Filed at:   2023-08-03T23:59:59+00:00
Accession:  0001262823-23-000029
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1262823/000126282323000029/0001262823-23-000029-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1262823/000126282323000029/wlk-20230803.htm
  HTML page:      https://secwatch.observer/filing/0001262823-23-000029

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