Westlake (WLK) Company Overview

HOUSTON--(BUSINESS WIRE)--The Board of Directors of Westlake Chemical Partners GP LLC, which is the general partner of Westlake Chemical Partners LP (the "Partnership") (NYSE:WLKP), has announced a distribution of $0.4714 per unit. This marks the 42nd quarterly distribution since the Partnership went public. The payment will be made on February 25, 2025, to unit holders who are on record by February 7, 2025.

Westlake Chemical Partners provides a good dividend and is reasonably valued, thanks to consistent demand for ethylene and strong financial results. In the third quarter of 2024, earnings rose due to higher prices and production levels of ethylene, along with a strong financial position that supports its dividends. However, there are risks related to reliance on Westlake Corporation and changes in the industry, but these are lessened by long-term contracts and positive market growth forecasts.

WLK has launched the Dryroll ridge vent, an innovative product designed to enhance roof protection and improve attic ventilation.

HOUSTON--(BUSINESS WIRE)--Westlake Innovations, Inc., part of Westlake Corporation (NYSE: WLK), has announced its investment in Universal Matter, Inc. This company, located in Burlington, Ontario, aims to be a top provider of high-quality and sustainable graphene and advanced materials to aid in reducing carbon emissions. Westlake's investment reflects its dedication to fostering a more sustainable future by continually enhancing its manufacturing processes.

HOUSTON--(BUSINESS WIRE)--Westlake Corporation (NYSE: WLK) has announced the appointment of Mr. Roger A. Cregg to its board of directors. He takes over from Mr. Marius A. Haas, who had previously announced his retirement from the board, effective December 10, 2024, after the new member was appointed. "We are very pleased that Roger has accepted this position on our board," said a Westlake Corporation executive.

HOUSTON--(BUSINESS WIRE)--Westlake Corporation (NYSE: WLK) has published its 2023 Sustainability Report, marking the seventh annual update on its sustainability efforts. This report highlights the company's impact on local communities and improvements in teamwork and employee growth. "We think that listening is key to generating great ideas and innovations, which have led to many of our successes," the company stated.

HOUSTON--(BUSINESS WIRE)--Westlake Corporation's Board of Directors (NYSE: WLK) has announced a regular dividend of $0.525 per share for the third quarter of 2024. This payment will be made on December 12, 2024, to shareholders who are on record as of November 26, 2024. Westlake has been paying and raising its dividend consistently for the last 20 years, having declared its first dividend on November 11, 2004.

In the third quarter, WLK experienced a decline in sales compared to the previous quarter, as a decrease in sales volume outweighed the rise in average sales prices.

Westlake Chemical (WLK) reported quarterly earnings of $1.41 per share, which is lower than the Zacks Consensus Estimate of $2.12 per share. This is also a decrease from the earnings of $2.20 per share from the same period last year.