Westlake Q3 net income falls to $285M; HIP segment posts record operating income of $256M

WESTLAKE CORP

2023-Q3 EPS reported $7.56 revenue$9,722,000,000

Net income $285M ($2.20 diluted EPS) vs $401M ($3.10) a year ago; revenue $3.1B down 21% YoY.
HIP segment record operating income $256M, EBITDA $327M; operating margin up to 22% from 15% YoY.
PEM segment operating income plunged to $105M from $353M YoY on lower caustic soda and PVC pricing.
Free cash flow $451M; quarterly dividend increased 40% to $0.50/share (announced August).
Management cites weak global demand; raises 2023 cost savings target to $95-$110M.

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 the three months ended September 30, 2023 results: revenue $3,115 million, net income $285 million, EPS $2.20 per share.

Period: the three months ended September 30, 2023
Revenue: $3,115 million
Net income: $285 million
EPS: $2.20 per share
Result: reported results

Exact text from the filing

For the three months ended September 30, 2023, the Company reported quarterly net income of $285 million, or $2.20 per share, on net sales of $3,115 million.

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Source: SEC EDGAR

accession 0001262823-23-000037

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