Westlake Corporation (WLK) Income Statement Analysis

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Complete financial analysis of Westlake Corporation (WLK) income statement, including revenue, profit margins, EPS and key performance metrics. Get detailed insights into the financial performance of Westlake Corporation, a leading company in the Chemicals – Specialty industry within the Basic Materials sector.

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Westlake Corporation (WLK)

Industry: Chemicals - Specialty

Sector: Basic Materials

Website: https://www.westlake.com

About Westlake Corporation

Westlake Corporation manufactures and supplies petrochemicals, polymers, and building products worldwide. It operates through two segments, Performance and Essential Materials; and Housing and Infrastructure Products. The Performance and Essential Materials segment manufactures and markets polyethylene, styrene monomer, ethylene co-products, PVC, VCM, ethylene dichloride chlor-alkali, and chlorinated derivative products. The Housing and Infrastructure Products segment manufactures and sells residential PVC siding; PVC trim and moldings; roofing applications; decorative stone; windows; PVC decking; PVC films for various inflatables, wallcovering, tape, and roofing applications; polymer composite roof tiles; PVC pipe and fittings; PVC compounds; and various consumer and commercial products such as landscape edging; industrial, home and office matting; marine dock edging; and masonry joint controls. The company offers its products to a range of customers, including chemical processors, plastics fabricators, small construction contractors, municipalities, and supply warehouses for use in various consumer and industrial markets, including residential construction, flexible and rigid packaging, automotive products, healthcare products, water treatment, and coatings, as well as other durable and non-durable goods. The company was formerly known as Westlake Chemical Corporation and changed its name to Westlake Corporation in February 2022. The company was founded in 1986 and is headquartered in Houston, Texas. Westlake Corporation is a subsidiary of TTWF LP.

Metric	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009	2008	2007	2006	2005	2004	2003	2002	2001	2000	1999
Revenue	12.55B	15.79B	11.78B	7.50B	8.12B	8.64B	8.04B	5.08B	4.46B	4.42B	3.76B	3.57B	3.62B	3.17B	2.33B	3.69B	3.19B	2.48B	2.44B	1.99B	1.42B	1.07B	1.09B	1.39B	1.06B
Cost of Revenue	10.33B	11.72B	8.28B	6.48B	6.86B	6.65B	6.27B	4.09B	3.28B	3.10B	2.66B	2.83B	3.06B	2.69B	2.13B	3.62B	2.92B	2.09B	2.00B	1.68B	1.30B	992.06M	1.12B	1.19B	887.96M
Gross Profit	2.22B	4.07B	3.50B	1.02B	1.26B	1.99B	1.77B	980.56M	1.19B	1.32B	1.10B	736.96M	559.01M	482.68M	195.13M	69.37M	271.40M	396.48M	443.63M	303.19M	121.95M	80.57M	-29.92M	198.92M	169.68M
Gross Profit Ratio	17.68%	25.79%	29.67%	13.63%	15.52%	23.01%	22.00%	19.32%	26.55%	29.84%	29.30%	20.64%	15.44%	15.22%	8.39%	1.88%	8.50%	15.96%	18.17%	15.27%	8.57%	7.51%	-2.75%	14.29%	16.04%
Research & Development	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
General & Administrative	865.00M	794.00M	528.00M	435.00M	0.00	445.00M	399.00M	295.44M	225.36M	193.36M	147.97M	121.61M	112.21M	104.32M	87.87M	98.91M	96.68M	83.23M	76.60M	60.24M	0.00	0.00	0.00	0.00	0.00
Selling & Marketing	0.00	41.00M	23.00M	14.00M	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
SG&A	865.00M	835.00M	551.00M	449.00M	458.00M	445.00M	399.00M	295.44M	225.36M	193.36M	147.97M	121.61M	112.21M	104.32M	87.87M	98.91M	96.68M	83.23M	76.60M	60.24M	57.01M	64.26M	0.00	62.04M	52.09M
Other Expenses	625.00M	155.00M	123.00M	109.00M	109.00M	52.00M	7.00M	56.40M	38.27M	-2.72M	6.79M	3.52M	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-219.00K	-877.00K	2.24M	-60.88M	10.78M	2.75M
Operating Expenses	865.00M	990.00M	674.00M	558.00M	567.00M	546.00M	507.00M	295.44M	225.36M	193.36M	147.97M	121.61M	112.21M	104.32M	87.87M	98.91M	96.68M	83.23M	76.60M	60.02M	56.14M	66.50M	-60.88M	72.82M	54.84M
Cost & Expenses	11.82B	12.71B	8.96B	7.04B	7.43B	7.19B	6.78B	4.39B	3.50B	3.29B	2.81B	2.96B	3.17B	2.79B	2.22B	3.72B	3.02B	2.17B	2.07B	1.74B	1.36B	1.06B	1.12B	1.27B	942.79M
Interest Income	0.00	24.00M	7.00M	14.00M	20.00M	0.00	0.00	8.42M	6.03M	3.47M	3.09M	4.01M	2.87M	1.51M	823.00K	4.56M	2.89M	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Interest Expense	165.00M	177.00M	176.00M	142.00M	124.00M	126.00M	159.00M	79.47M	34.66M	37.35M	18.08M	43.05M	50.99M	39.88M	34.96M	33.96M	18.42M	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Depreciation & Amortization	1.10B	1.06B	840.00M	773.00M	713.00M	641.00M	601.00M	377.67M	245.76M	208.49M	157.81M	144.54M	131.40M	128.73M	123.20M	111.93M	104.27M	87.11M	82.70M	83.17M	88.18M	88.02M	60.88M	78.76M	86.46M
EBITDA	1.96B	4.18B	3.69B	1.25B	1.41B	2.10B	1.84B	1.02B	1.19B	1.33B	1.12B	772.76M	583.82M	511.57M	236.91M	87.86M	280.89M	385.33M	450.29M	243.17M	154.00M	102.09M	-29.92M	204.87M	201.30M
EBITDA Ratio	15.64%	26.67%	31.53%	17.08%	17.79%	24.71%	23.26%	22.05%	27.87%	30.12%	29.74%	21.38%	15.97%	15.99%	9.91%	2.23%	8.78%	17.16%	18.34%	17.09%	11.02%	9.10%	-2.75%	14.58%	17.95%
Operating Income	729.00M	3.05B	2.80B	429.00M	656.00M	1.41B	1.23B	581.45M	959.83M	1.12B	953.46M	615.35M	446.80M	378.36M	107.26M	-29.54M	174.72M	313.25M	367.03M	243.17M	65.82M	14.07M	-90.80M	126.11M	114.84M
Operating Income Ratio	5.81%	19.31%	23.77%	5.72%	8.08%	16.31%	15.33%	11.46%	21.50%	25.46%	25.36%	17.23%	12.34%	11.93%	4.61%	-0.80%	5.47%	12.61%	15.04%	12.25%	4.62%	1.31%	-8.35%	9.06%	10.86%
Total Other Income/Expenses	-29.00M	-104.00M	-123.00M	-98.00M	-86.00M	-74.00M	-144.00M	-24.62M	3.61M	-40.07M	-11.29M	-30.18M	-45.36M	-35.40M	-28.50M	-28.48M	-15.76M	-30.70M	-21.71M	-52.50M	-42.31M	-28.28M	-26.54M	-35.42M	11.42M
Income Before Tax	700.00M	2.95B	2.68B	331.00M	570.00M	1.33B	1.08B	558.38M	963.44M	1.08B	942.17M	585.17M	401.43M	342.96M	78.75M	-58.02M	158.96M	282.55M	345.33M	190.66M	23.50M	-14.20M	-117.34M	90.69M	126.26M
Income Before Tax Ratio	5.58%	18.65%	22.73%	4.41%	7.02%	15.45%	13.44%	11.00%	21.59%	24.55%	25.06%	16.39%	11.09%	10.81%	3.39%	-1.57%	4.98%	11.37%	14.15%	9.60%	1.65%	-1.32%	-10.79%	6.51%	11.94%
Income Tax Expense	178.00M	649.00M	607.00M	-42.00M	108.00M	300.00M	-258.00M	138.52M	298.40M	398.90M	331.75M	199.61M	142.47M	121.57M	25.76M	-28.48M	44.23M	87.99M	118.51M	69.94M	8.75M	-7.14M	-45.35M	71.11M	77.04M
Net Income	479.00M	2.25B	2.02B	330.00M	421.00M	996.00M	1.30B	398.86M	646.01M	678.52M	610.43M	385.56M	258.97M	221.39M	53.00M	-29.54M	114.73M	194.56M	226.82M	120.72M	14.76M	-7.06M	-71.99M	55.00M	37.80M
Net Income Ratio	3.82%	14.23%	17.11%	4.40%	5.19%	11.53%	16.22%	7.86%	14.47%	15.37%	16.24%	10.80%	7.15%	6.98%	2.28%	-0.80%	3.59%	7.83%	9.29%	6.08%	1.04%	-0.66%	-6.62%	3.95%	3.57%
EPS	3.72	17.47	15.66	2.57	3.26	7.70	10.05	3.07	4.88	5.09	4.57	2.89	1.95	1.68	0.40	-0.23	0.88	1.50	1.75	1.10	0.15	-0.07	-0.73	0.56	0.38
EPS Diluted	3.70	17.35	15.58	2.57	3.25	7.66	10.00	3.06	4.86	5.07	4.55	2.88	1.94	1.67	0.40	-0.23	0.88	1.49	1.74	1.09	0.15	-0.07	-0.73	0.56	0.38
Weighted Avg Shares Out	127.81M	127.97M	128.00M	127.85M	128.40M	129.40M	129.09M	129.37M	131.82M	133.11M	133.22M	132.58M	131.85M	130.95M	131.83M	131.25M	130.47M	130.27M	130.02M	110.46M	99.00M	99.00M	99.00M	99.00M	99.00M
Weighted Avg Shares Out (Dil)	128.60M	128.85M	128.70M	128.09M	128.76M	129.99M	129.54M	129.97M	132.30M	133.64M	133.78M	133.28M	132.60M	131.35M	132.03M	131.25M	130.65M	130.51M	130.50M	110.71M	99.00M	99.00M	99.00M	99.00M	99.00M

Westlake's (WLK) Earnings and Sales Miss Estimates in Q4

February 21, 2024zacks.com

Westlake's (WLK) fourth-quarter earnings and revenues miss the respective estimates amid reduced selling prices in PEM.

Westlake Corporation (WLK) Q4 2023 Earnings Call Transcript

February 20, 2024seekingalpha.com

Westlake Corporation (WLK) Q4 2023 Earnings Call Transcript

Westlake (WLK) Q4 Earnings: Taking a Look at Key Metrics Versus Estimates

February 20, 2024zacks.com

Although the revenue and EPS for Westlake (WLK) give a sense of how its business performed in the quarter ended December 2023, it might be worth considering how some key metrics compare with Wall Street estimates and the year-ago numbers.

Westlake Chemical (WLK) Lags Q4 Earnings and Revenue Estimates

February 20, 2024zacks.com

Westlake Chemical (WLK) came out with quarterly earnings of $0.72 per share, missing the Zacks Consensus Estimate of $0.81 per share. This compares to earnings of $1.79 per share a year ago.

Westlake Corporation Reports Fourth Quarter and Full Year 2023 Results

February 20, 2024businesswire.com

HOUSTON--(BUSINESS WIRE)--Westlake Corporation (NYSE: WLK) (the "Company" or "Westlake") today announced fourth quarter and full year 2023 results. SUMMARY FINANCIAL HIGHLIGHTS ($ in millions except per share data and percentages) Three Months Ended Twelve Months Ended...

Westlake Corporation Declares Quarterly Dividend

February 16, 2024businesswire.com

HOUSTON--(BUSINESS WIRE)--The Board of Directors of Westlake Corporation (NYSE: WLK) today declared a regular dividend distribution of 50 cents per share for the fourth quarter of 2024. This dividend will be payable on March 14, 2024, to stockholders of record...

Seeking Clues to Westlake (WLK) Q4 Earnings? A Peek Into Wall Street Projections for Key Metrics

February 14, 2024zacks.com

Get a deeper insight into the potential performance of Westlake (WLK) for the quarter ended December 2023 by going beyond Wall Street's top -and-bottom-line estimates and examining the estimates for some of its key metrics.

Earnings Preview: Westlake Chemical (WLK) Q4 Earnings Expected to Decline

February 13, 2024zacks.com

Westlake (WLK) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.

Westlake Announces Fourth Quarter and Full Year Earnings for 2023 Conference Call

February 6, 2024businesswire.com

HOUSTON--(BUSINESS WIRE)--Westlake Corporation (NYSE: WLK) will release its fourth quarter and full year 2023 earnings prior to the market opening on Tuesday, February 20, 2024. The company will host a conference call at 11:00 a.m. Eastern Time (10:00 a.m. Central...