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Mar 31, 2020
Westlake Q1 2020 Earnings Report
Westlake reported a solid first quarter in 2020, with increased net income and strong sales volumes in both Olefins and Vinyls segments.
Key Takeaways
Westlake Chemical Corporation reported a net income of $145 million, or $1.13 per diluted share, on net sales of $1,932 million for the first quarter of 2020. The increase in net income was primarily due to an income tax rate benefit of $62 million resulting from the carryback of federal net operating losses. The company's cash and cash equivalents totaled $1.54 billion.
Net income of $1.13 per diluted share, or $145 million, for the first quarter of 2020.
Cash and cash equivalents of $1.54 billion.
EBITDA of $337 million for the first quarter of 2020.
Experienced strong sales volumes in both Olefins and Vinyls segments.