Westlake Q4 net loss $497M on $2.8B revenue; $625M in charges drag results

WESTLAKE CORP

2023-FY EPS reported $3.70 revenue$12,548,000,000

Q4 net loss of $497M ($3.86 diluted loss) includes $475M impairment on epoxy assets and $150M litigation settlement charge.
Excluding identified items, Q4 net income $93M ($0.72 diluted EPS) and EBITDA $390M.
Full-year 2023 net sales $12.5B, net income $479M, and free cash flow $1.3B.
HIP segment posted record annual operating income of $710M with 23% EBITDA margin.
PEM segment (ex-items) EBITDA $1.59B, down 51% YoY on weak pricing and European cost headwinds.

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 0.95

WESTLAKE CORP reported fourth quarter and full year 2023 results: revenue $2,826 million, net income a net loss of $497 million, EPS $3.86 per share.

Period: fourth quarter and full year 2023
Revenue: $2,826 million
Net income: a net loss of $497 million
EPS: $3.86 per share
Result: reported results

Exact text from the filing

Items) For the three months ended December 31, 2023, the Company reported quarterly net income attributable to Westlake of $93 million, or $0.72 per share, on net sales of $2,826 million. The year-ove

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Source: SEC EDGAR

accession 0001262823-24-000006

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