secwatch.observer — SEC 8-K summary
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Issuer:     WESTLAKE CORP (WLK)
CIK:        0001262823
Form:       8-K
Filed at:   2023-11-02T23:59:59+00:00
Accession:  0001262823-23-000037
Event type: earnings
Sentiment:  neutral
Materiality: 0.75
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1262823/000126282323000037/0001262823-23-000037-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1262823/000126282323000037/wlk-20231102.htm
  HTML page:      https://secwatch.observer/filing/0001262823-23-000037

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