Westlake Q1 2021 Earnings Report
Key Takeaways
Westlake Chemical Corporation reported a strong first quarter in 2021, with net income attributable to Westlake of $242 million, or $1.87 per diluted share, on net sales of $2,357 million. The increases in net income and income from operations were primarily driven by higher sales prices and integrated margins for most of their major products including polyethylene and PVC, as well as higher earnings resulting from strong demand in their downstream building products business.
Net income increased by $97 million from first quarter 2020.
Income from operations increased by $210 million from first quarter 2020.
Net cash provided by operating activities was $265 million.
EBITDA of $553 million increased by $216 million compared to first quarter 2020.
Westlake
Westlake
Forward Guidance
Westlake sees continuing strong global demand in our PVC, polyethylene and downstream building products business driven by solid markets for the downstream uses of our products including residential construction, packaging and healthcare.
Positive Outlook
- Continuing strong global demand in PVC.
- Continuing strong global demand in polyethylene.
- Continuing strong global demand in downstream building products business.
- Solid markets for the downstream uses of our products including residential construction.
- Solid markets for the downstream uses of our products including packaging and healthcare.