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Sep 30, 2020
Westlake Q3 2020 Earnings Report
Westlake's net income decreased due to Hurricane Laura's impact and higher feedstock costs, but increased from the previous quarter due to higher prices and strong demand in downstream vinyls products.
Key Takeaways
Westlake Chemical Corporation reported a net income of $57 million, or $0.45 per diluted share, on net sales of $1,898 million for the third quarter of 2020. The results were impacted by Hurricane Laura and higher feedstock costs, but partially offset by strong demand in downstream vinyls products.
Net income for the third quarter of 2020 was $57 million, or $0.45 per diluted share.
Net sales for the third quarter of 2020 were $1,898 million.
Hurricane Laura significantly impacted the company's Lake Charles, Louisiana facilities, reducing production and sales volumes.
Higher earnings in downstream vinyls products business driven by strong demand partially offset the negative impacts.
Forward Guidance
Westlake is confident in its ability to serve customers and deliver long-term value to shareholders, maintaining a solid financial position and strong business fundamentals.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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