Westlake Q2 net income $313M, record HIP EBITDA $336M; names new CEO

WESTLAKE CORP

2024-Q2 EPS reported $3.75 revenue$6,182,000,000

Net sales $3,207M, net income $313M ($2.40 diluted EPS), up from $297M in Q2 2023.
Record HIP segment income from operations $266M, EBITDA $336M (28% margin).
PEM segment income from operations $157M, up $135M sequentially on higher pricing.
Announced plan to mothball two European epoxy units to reduce costs and improve profitability.
Jean-Marc Gilson named President and CEO; Albert Chao becomes Executive Chairman.

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