PerformanceMaterials News & Analysis

Westlake (WLK) Reports $260M Q2 Profit After Two Losses

On August 4, Westlake Corporation (NYSE: WLK) reported a second-quarter profit of $260 million, or $2.01 per share, rebounding from a $169 million loss in Q1 and $142 million loss a year ago. EBITDA increased to $679 million from $210 million a year earlier, largely driven by a 14% rise in average sales prices in its Performance and Essential Materials segment. The company reduced debt by $500 million and returned $99 million to shareholders. This turnaround suggests improving market conditions, which is significant for investors seeking recovery in WLK's performance.