Westlake Q1 2022 Earnings Report
Key Takeaways
Westlake Corporation announced record first quarter 2022 results, with record quarterly net sales of $4.1 billion, a 72% increase compared to the first quarter of 2021. Record quarterly net income reached $756 million, a 212% increase, and record quarterly EBITDA was $1.3 billion, a 135% increase year-over-year. The company benefited from strong market conditions and completed the acquisition of Hexion's global epoxy business.
Achieved record quarterly net sales of $4.1 billion, up 72% from Q1 2021.
Reported record quarterly net income of $756 million, a 212% increase from Q1 2021.
Attained record quarterly EBITDA of $1.3 billion, a 135% increase from Q1 2021.
Expanded specialty product portfolio with the acquisition of Hexion's global epoxy business.
Westlake
Westlake
Forward Guidance
Westlake anticipates volatility driven by economic and geopolitical factors but remains confident in its business fundamentals and the markets in which it participates. The company is focused on its ESG tenets and creating value for its shareholders, remaining optimistic about the future.
Positive Outlook
- Market conditions currently remain favorable.
- Continued strong demand outlook for products.
- Focus on ESG tenets to enhance lives and create a sustainable future.
- Commitment to creating value for shareholders.
- Robust residential construction and remodeling activity driving demand for PVC resin.
Challenges Ahead
- Volatility driven by economic and geopolitical factors could impact businesses.
- Rising feedstock costs.
- Logistical constraints.
- Rising raw material and energy costs.
- Uncertainties associated with the United States and worldwide economies.