Westlake Q3 GAAP EPS $0.83, adjusted $1.41; EBITDA down 22% QoQ on outages and mothball

WESTLAKE CORP

2024-Q3 EPS reported $4.58 revenue$9,299,000,000

Net sales $3.1B flat YoY but down 3% QoQ; volume -4%, price +1%.
GAAP net income $108M ($0.83/sh); adjusted net income $183M ($1.41/sh) excl. $75M mothball charge.
PEM segment EBITDA $297M excl. Item (-24% QoQ); impacted by ~$120M from two extended outages at ethylene JV and chlorovinyl plant.
HIP segment EBITDA $262M (-22% QoQ) due to slower residential construction and weather (Hurricanes Beryl, Helene).
Cash $2.9B, debt $4.6B; redeemed $300M senior notes; capex $220M, free cash flow $254M.

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