Declared Dividend • May 25
First quarter dividend of US$0.53 announced Shareholders will receive a dividend of US$0.53. Ex-date: 27th May 2026 Payment date: 11th June 2026 Dividend yield will be 2.4%, which is lower than the industry average of 3.0%. Sustainability & Growth Dividend is being paid despite the company being loss-making over the last 12 months and having no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 11% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. Tillkännagivande • May 16
Westlake Corporation Declares Dividend for the First Quarter of 2026, Payable on June 11, 2026 Westlake Corporation declared a regular dividend distribution of $0.53 per share for the first quarter of 2026. This dividend will be payable on June 11, 2026 to stockholders of record on May 27, 2026. Reported Earnings • May 06
First quarter 2026 earnings released: US$1.32 loss per share (vs US$0.31 loss in 1Q 2025) First quarter 2026 results: US$1.32 loss per share (further deteriorated from US$0.31 loss in 1Q 2025). Revenue: US$2.65b (down 6.8% from 1Q 2025). Net loss: US$169.0m (loss widened 323% from 1Q 2025). Revenue is forecast to grow 5.1% p.a. on average during the next 3 years, compared to a 7.3% decline forecast for the Chemicals industry in the United Kingdom. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 117 percentage points per year, which is a significant difference in performance. Buy Or Sell Opportunity • Apr 25
Now 21% overvalued after recent price rise Over the last 90 days, the stock has risen 26% to US$112. The fair value is estimated to be US$92.55, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 10% over the last 3 years. Meanwhile, the company became loss making. Tillkännagivande • Apr 15
Westlake Corporation Announces Settlement Reached in PVC Pipe Antitrust Litigation Involving Price-Fixing Claims Westlake Corporation announced that as previously reported in company's periodic filings under the Securities Exchange Act of 1934, as amended, the Company and other manufacturers of polyvinyl chloride (PVC) pipe and fittings have been named as defendants in ten putative class action civil lawsuits filed in Illinois between August 2024 and June 2025 (the PVC Pipe Antitrust Litigation"), which generally allege that PVC pipe and fittings manufacturers conspired with each other and an industry publication (OPIS) to fix, raise, maintain and stabilize the prices of PVC pipe and fittings in the United States, resulting in the plaintiffs paying artificially high prices for PVC pipe and fittings. Each of the lawsuits is filed on behalf of the respective named plaintiff or plaintiffs and a putative class comprised of either direct purchasers (the DPPs") or indirect purchasers of PVC pipe and fittings in the United States. On March 26, 2026, the Company and the DPPs entered into a settlement agreement (the Settlement Agreement") relating to the PVC Pipe Antitrust Litigation. The claims by the indirect purchaser plaintiffs in the PVC Pipe Antitrust Litigation remain pending. On April 13, 2026, the DPPs filed a motion for preliminary approval of the Settlement Agreement. Subject to the satisfaction of certain conditions, including receipt of preliminary and final court approval of the settlement, the Company has agreed to pay $67 million to the DPP settlement class and the DPP settlement class has agreed to release Westlake from certain claims relating to the PVC Pipe Antitrust Litigation. The Settlement Agreement provides that the settlement shall not be deemed or construed to be an admission of liability or wrongdoing by any party. Tillkännagivande • Apr 03
Westlake Corporation, Annual General Meeting, May 14, 2026 Westlake Corporation, Annual General Meeting, May 14, 2026. Location: westlake center, 2801 post oak blvd, houston, texas 77056, United States Buy Or Sell Opportunity • Mar 23
Now 20% overvalued after recent price rise Over the last 90 days, the stock has risen 51% to US$109. The fair value is estimated to be US$90.76, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 10% over the last 3 years. Meanwhile, the company became loss making. Tillkännagivande • Feb 21
Westlake Corporation Declares Quarterly Dividend, Payable on March 18, 2026 The Board of Directors of Westlake Corporation declared a regular dividend distribution of $0.53 per share for the fourth quarter of 2025. This dividend will be payable on March 18, 2026 to stockholders of record on March 3, 2026. Tillkännagivande • Feb 10
Westlake Corporation to Report Q4, 2025 Results on Feb 24, 2026 Westlake Corporation announced that they will report Q4, 2025 results at 9:30 AM, US Eastern Standard Time on Feb 24, 2026 Tillkännagivande • Jan 06
Westlake Corporation (NYSE:WLK) completed the acquisition of Global compounding solutions businesses of the Aci - Automotive Compounding Industry, Lda. Westlake Corporation (NYSE:WLK) entered into an agreement to acquire Global compounding solutions businesses of the Aci - Automotive Compounding Industry, Lda on August 26, 2025.
The transaction is subject to the satisfaction of customary closing conditions, including receipt of certain regulatory approvals. The transaction is expected to close in early 2026.
Oliver Schröder, Michael Cohen, Stephanie Birmanns, Steffen Henn, Marcus Becke, Andreas Herr, Ben Steinbrück, David Kleineidam and Julian Weidlich of SZA Schilling, Zutt & Anschütz acted as legal advisor for Westlake Corporation. SZA Schilling, Zutt & Anschütz acted as lead counsel on the transaction, steering the overall process, negotiating the master share and asset purchase agreement, managing the workstream for the necessary merger control and foreign direct investment filings, and coordinating various teams of local legal counsel comprising lawyers of Gómez-Acebo & Pombo in Spain and Portugal, Creel, García-Cuéllar, Aiza y Enriquez in Mexico, Nestor Nestor Diculescu Kingston Petersen in Romania, and Bennani & Associés in Tunisia and Morocco.
Westlake Corporation (NYSE:WLK) completed the acquisition of Global compounding solutions businesses of the Aci - Automotive Compounding Industry, Lda on January 5, 2026. Tillkännagivande • Dec 15
Westlake Corporation to Rationalize Certain North American Chlorovinyl and Styrene Assets Westlake Corporation announced that the Company has approved a plan to cease operation of certain of the Company’s North American chlorovinyl production facilities, including: its polyvinyl chloride (‘PVC’) plant at the Aberdeen, Mississippi site, which has an annual capacity of approximately 1 billion pounds of suspension PVC resin; its vinyl chloride monomer (‘VCM’) plant at the Lake Charles, Louisiana North site, which has an annual capacity of approximately 910 million pounds of VCM; and one of its diaphragm chlor-alkali units at the Lake Charles, Louisiana South site, which has an annual capacity of approximately 825 million pounds of chlorine and 910 million pounds of caustic soda. The Company plans to continue supplying customers with PVC, VCM and chlor-alkali products from its seven other North American chlorovinyl facilities. Following the closures, the Company expects to have aggregate annual production capacity of approximately 5,520 million pounds of suspension PVC globally, including 4,900 million pounds in North America, 7,630 million pounds of VCM globally, including 6,050 million pounds in North America, and 6,680 million pounds of chlorine and 7,510 million pounds of caustic soda globally, including 5,410 million pounds of chlorine and 6,100 million pounds of caustic soda in North America. The Company also approved a plan to cease operation of its styrene production plant located at the Lake Charles, Louisiana site, which has an annual production capacity of approximately 570 million pounds of styrene. Cessation of operations at the affected facilities is expected to take place in December 2025. The closures of the facilities are expected to result in a workforce reduction of approximately 295 employees. The Company expects it will incur total pre-tax costs of approximately $415 million related to the closures of the facilities consisting of noncash accelerated depreciation, amortization, and asset write-off charges of approximately $357 million, employee severance and separation costs of approximately $25 million, and other plant shut down costs of approximately $33 million. The Company expects to recognize a substantial portion of the non-cash accelerated depreciation, amortization, and asset write-off charges, employee severance and separations costs, and other plant shut down costs in the fourth quarter of 2025, although cash outflows are expected over several years through the completion of the anticipated closures. Declared Dividend • Nov 24
Third quarter dividend of US$0.53 announced Shareholders will receive a dividend of US$0.53. Ex-date: 25th November 2025 Payment date: 11th December 2025 Dividend yield will be 3.5%, which is higher than the industry average of 3.0%. Sustainability & Growth Dividend is being paid despite the company being loss-making over the last 12 months and having no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 12% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. Tillkännagivande • Nov 15
Westlake Corporation Declares Quarterly Dividend, Payable on December 11, 2025 The Board of Directors of Westlake Corporation declared a regular dividend distribution of $0.53 per share for the third quarter of 2025. This dividend will be payable on December 11, 2025 to stockholders of record on November 25, 2025. Reported Earnings • Oct 31
Third quarter 2025 earnings released: US$6.10 loss per share (vs US$0.83 profit in 3Q 2024) Third quarter 2025 results: US$6.10 loss per share (down from US$0.83 profit in 3Q 2024). Revenue: US$2.84b (down 9.0% from 3Q 2024). Net loss: US$782.0m (down US$889.0m from profit in 3Q 2024). Revenue is forecast to grow 2.6% p.a. on average during the next 3 years, compared to a 15% decline forecast for the Chemicals industry in the United Kingdom. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 90 percentage points per year, which is a significant difference in performance. Tillkännagivande • Oct 30
Westlake Corporation Reports Unaudited Consolidated Impairment of Goodwill for the Third Quarter Ended September 30, 2025 Westlake Corporation reported unaudited consolidated impairment of goodwill for the third quarter ended September 30, 2025. For the quarter, the company reported impairment of goodwill $727 million. Tillkännagivande • Oct 16
Westlake Corporation to Report Q3, 2025 Results on Oct 30, 2025 Westlake Corporation announced that they will report Q3, 2025 results at 9:30 AM, US Eastern Standard Time on Oct 30, 2025 Tillkännagivande • Oct 14
Westlake Royal Building Products Adds A New Black Frame Option to Its Westlake Royal Windows' Magnolia Collection Westlake Royal Building Products announced adding a new black frame option to its Westlake Royal Windows' Magnolia Collection in response to the increasing demand for darker window frame styles. Available throughout the Magnolia Collection, including the 400/4000 Series and 450 Series, the new frame features a sleek black finish on both its interior and exterior surfaces. Drawing inspiration from classic Southern architecture, Magnolia windows are engineered for durability and energy efficiency. They feature multi-chambered vinyl profiles, an all-welded frame and sash, and aluminum sash reinforcement. They are rated up to a DP-50 performance level and include an integral nailing fin and dual weather-stripping. Offered in single hung, slider and picture window models, the Magnolia Collection combines timeless styling with practical benefits, including moisture-resistant rigid PVC that won't rot, warp or crack. Sleek sash lines maximize daylight openings for brighter interiors, while 3/4" insulating glass with a warm-edge technology spacer system helps reduce heat loss and sound transmission. Tillkännagivande • Sep 22
Westlake Corporation(NYSE:WLK) dropped from FTSE All-World Index (USD) Westlake Corporation(NYSE:WLK) dropped from FTSE All-World Index (USD) Declared Dividend • Aug 13
Second quarter dividend increased to US$0.53 Dividend of US$0.53 is 1.0% higher than last year. Ex-date: 19th August 2025 Payment date: 4th September 2025 Dividend yield will be 2.6%, which is lower than the industry average of 3.0%. Sustainability & Growth Dividend is being paid despite the company being loss-making over the last 12 months and having no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 12% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. Tillkännagivande • Aug 09
Westlake Corporation Declares Quarterly Dividend, Payable on September 4, 2025 The Board of Directors of Westlake Corporation declared a regular dividend distribution of $0.53 per share for the second quarter of 2025. This dividend will be payable on September 4, 2025 to stockholders of record on August 19, 2025. Reported Earnings • Aug 05
Second quarter 2025 earnings released: US$1.11 loss per share (vs US$2.42 profit in 2Q 2024) Second quarter 2025 results: US$1.11 loss per share (down from US$2.42 profit in 2Q 2024). Revenue: US$2.95b (down 7.9% from 2Q 2024). Net loss: US$142.0m (down 146% from profit in 2Q 2024). Revenue is forecast to grow 5.0% p.a. on average during the next 3 years, compared to a 15% decline forecast for the Chemicals industry in the United Kingdom. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 82 percentage points per year, which is a significant difference in performance. Tillkännagivande • Jul 22
Westlake Corporation to Report Q2, 2025 Results on Aug 05, 2025 Westlake Corporation announced that they will report Q2, 2025 results Pre-Market on Aug 05, 2025 New Risk • Jul 02
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of British stocks, typically moving 8.3% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Dividend is not well covered by cash flows (321% cash payout ratio). Share price has been volatile over the past 3 months (8.3% average weekly change). Declared Dividend • May 14
First quarter dividend of US$0.53 announced Shareholders will receive a dividend of US$0.53. Ex-date: 20th May 2025 Payment date: 5th June 2025 Dividend yield will be 2.4%, which is lower than the industry average of 3.0%. Sustainability & Growth Dividend is covered by earnings (69% earnings payout ratio) but not covered by cash flows (321% cash payout ratio). The dividend has increased by an average of 15% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 160% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Tillkännagivande • May 13
Westlake Corporation Approves Election of David T. Chao as Director Westlake Corporation at its annual meeting of stockholders held on May 8, 2025, approved election of David T. Chao as Director. Tillkännagivande • May 10
Westlake Corporation Declares Quarterly Dividend for the First Quarter of 2025, Payable on June 5, 2025 The Board of Directors of Westlake Corporation declared a regular dividend distribution of $0.525 per share for the first quarter of 2025. This dividend will be payable on June 5, 2025 to stockholders of record on May 20, 2025. Reported Earnings • May 04
First quarter 2025 earnings released: US$0.31 loss per share (vs US$1.35 profit in 1Q 2024) First quarter 2025 results: US$0.31 loss per share (down from US$1.35 profit in 1Q 2024). Revenue: US$2.85b (down 4.3% from 1Q 2024). Net loss: US$40.0m (down 123% from profit in 1Q 2024). Revenue is forecast to grow 4.6% p.a. on average during the next 3 years, compared to a 4.5% decline forecast for the Chemicals industry in the United Kingdom. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 60 percentage points per year, which is a significant difference in performance. Tillkännagivande • Apr 17
Westlake Corporation to Report Q1, 2025 Results on May 02, 2025 Westlake Corporation announced that they will report Q1, 2025 results Pre-Market on May 02, 2025 Valuation Update With 7 Day Price Move • Apr 09
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to US$86.20, the stock trades at a forward P/E ratio of 15x. Average forward P/E is 8x in the Chemicals industry in the United Kingdom. Total loss to shareholders of 24% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at US$162 per share. Buy Or Sell Opportunity • Mar 28
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 14% to US$101. The fair value is estimated to be US$127, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 6.0% over the last 3 years. Earnings per share has declined by 66%. For the next 3 years, revenue is forecast to grow by 4.8% per annum. Earnings are also forecast to grow by 25% per annum over the same time period. Tillkännagivande • Mar 25
Westlake Epoxy Unveils EpoVIVE™ Portfolio at ECS 2025 Westlake Corporation announced that Westlake Epoxy plans to launch several new products at the European Coatings Show 2025, March 25 to March 27, 2025, in Germany. Westlake Epoxy will be showcasing at booth # 5-349 its latest innovations designed to enhance robustness, safety, and performance. At Westlake, they challenge themselves to do more, to go further in their quest for improved sustainability. As such they strive to develop new technologies that help support customer sustainability initiatives. They are proud to present at ECS their newly introduced EpoVIVE portfolio of products that provide sustainability advantages as compared to traditional Westlake formulas in one or more of the following categories: Lower Carbon Footprint: Utilize ISCC PLUS mass-balanced bio circular or circular raw materials to reduce carbon emissions. Energy Efficiency: Combine renewable energy with energy-efficient practices to reduce the carbon footprint. Safer Materials: Use of safer materials that are free from SVHC (substances of very high concern) and CMR (carcinogenic, mutagenic and reprotoxic), improving safe handling. Emission Reductions: Achieve lower VOC (volatile organic compounds) waterborne epoxy resin dispersions, contributing to the reduction of VOC emissions during customer applications. More Circular Solutions: Support improved circularity with innovative formulations and recycling processes that allow for enhanced ability to reuse, recycle, or repurpose products in the EpoVIVE portfolio. Designed to meet the increasing demand for low-emission, and SVHC-free alternatives that use bio-circular or circular materials, these cutting-edge products offer enhanced durability, corrosion protection, and ease of use while improving their environmental footprint through operational innovations and product offerings with reduced environmental impacts. The EpoVIVE range introduces NEW EPIKOTE Resins 901 and 902, providing CMR-free alternatives to conventional C12-C14 diluted resins for high-performance flooring. The portfolio also features the AQUAREOUS epoxy systems enabling lower volatile organic compound solvent-free coatings for concrete and metal, while SVHC-free AZURES products deliver CMR free labelled, high-performance solutions for coatings, civil engineering, and adhesives. In addition to the EpoVIVE portfolio, Westlake Epoxy will introduce the ENABLING Curing Agent EPIKURE 6874-WZ-50, which simplifies waterborne formulations and enhances corrosion protection for smooth steel. Declared Dividend • Mar 03
Fourth quarter dividend of US$0.53 announced Shareholders will receive a dividend of US$0.53. Ex-date: 4th March 2025 Payment date: 19th March 2025 Dividend yield will be 1.9%, which is lower than the industry average of 3.0%. Sustainability & Growth Dividend is covered by both earnings (44% earnings payout ratio) and cash flows (88% cash payout ratio). The dividend has increased by an average of 15% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 108% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Tillkännagivande • Feb 26
Westlake Corporation, Annual General Meeting, May 08, 2025 Westlake Corporation, Annual General Meeting, May 08, 2025. Tillkännagivande • Feb 25
Westlake Epoxy Announces the Launch of the EpoVIVE Westlake Corporation announced that Westlake Epoxy plans to launch at JEC World, March 4 to 6, 2025, in Paris, EpoVIVE™, an epoxy product portfolio offering a range of sustainable characteristics across multiple products, which will support customer sustainability initiatives. The EpoVIVE™ portfolio of Epoxy phenolic, resins and curing agents, represents a significant step forward in the commitment to drive sustainable innovation and foster value-chain collaboration. EpoVIVE™ products are developed with an environmentally conscious mindset. The newly introduced EpoVIVE portfolio is distinguished by sustainable benefits, as confirmed by Westlake Epoxy’s evaluation according to principles for measuring and assessing sustainable characteristics of each product. Products in the EpoVIVE portfolio provide sustainability advantages as compared to traditional Westlake formulas in one or more of the following categories: Lower Carbon Footprint: Utilize ISCC PLUS mass-balanced renewable raw materials to reduce carbon emissions. Energy Efficiency: Combine renewable energy with energy-efficient practices to reduce the carbon footprint. Safer Materials: Use of safer materials that are free from SVHC (substances of very high concern) and CMR-(carcinogenic, mutagenic and reprotoxic), improving safe handling. Emission Reductions: Achieve lower VOC (volatile organic compounds) waterborne epoxy resin dispersions, contributing to the reduction of emissions during customer applications. Circular Solutions: Support circularity with innovative formulations and recycling processes that allow for the reuse, recycling, or repurposing of products in the EpoVIVE™ portfolio. EvoVIVE products offer a range of benefits and are tailored for diverse industries such as adhesives, aerospace, automotive, civil engineering and construction, composites and wind energy, electronics, electrical laminates, marine, and protective coatings. Westlake Corporation has long been committed to sustainability, with initiatives aimed at reducing emissions, conserving resources, and developing products with sustainability attributes. The introduction of the EpoVIVE™ portfolio is aligned with broader goals to reduce carbon emissions and to continuously improve environmental footprint through operational innovations and sustainable product offerings. Reported Earnings • Feb 24
Full year 2024 earnings released: EPS: US$4.68 (vs US$3.72 in FY 2023) Full year 2024 results: EPS: US$4.68 (up from US$3.72 in FY 2023). Revenue: US$12.1b (down 3.2% from FY 2023). Net income: US$602.0m (up 27% from FY 2023). Profit margin: 5.0% (up from 3.8% in FY 2023). The increase in margin was driven by lower expenses. Revenue is forecast to grow 5.9% p.a. on average during the next 3 years, compared to a 4.1% decline forecast for the Chemicals industry in the United Kingdom. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 66 percentage points per year, which is a significant difference in performance. Tillkännagivande • Feb 22
Westlake Corporation Declares Dividend for the Fourth Quarter of 2024, Payable on March 19, 2025 The Board of Directors of Westlake Corporation declared a regular dividend distribution of $0.525 per share for the fourth quarter of 2024. This dividend will be payable on March 19, 2025 to stockholders of record on March 4, 2025. Tillkännagivande • Feb 10
Westlake Corporation to Report Q4, 2024 Results on Feb 24, 2025 Westlake Corporation announced that they will report Q4, 2024 results Pre-Market on Feb 24, 2025 Declared Dividend • Nov 25
Third quarter dividend of US$0.53 announced Shareholders will receive a dividend of US$0.53. Ex-date: 26th November 2024 Payment date: 12th December 2024 Dividend yield will be 1.5%, which is lower than the industry average of 3.0%. Sustainability & Growth Dividend is not covered by earnings (268% earnings payout ratio). However, it is covered by cash flows (60% cash payout ratio). The dividend has increased by an average of 15% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. The company's earnings per share (EPS) would need to grow by 198% to bring the payout ratio under control. EPS is expected to grow by 138% over the next 2 years, which means the dividend may need to be reduced to reach a sustainable payout ratio. Tillkännagivande • Nov 16
Westlake Corporation Declares Regular Dividend for the Third Quarter of 2024, Payable on December 12, 2024 The Board of Directors of Westlake Corporation declared a regular dividend distribution of $0.525 per share for the third quarter of 2024. This dividend will be payable on December 12, 2024, to stockholders of record on November 26, 2024. Tillkännagivande • Nov 14
New York’s Erie County Water Authority Files an Antitrust Lawsuit Against Atkore, Diamond Plastics, JM Eagle, National Pipe and Plastics, Otter Tail, IPEX and Westlake Corporation New York’s Erie County Water Authority has filed an antitrust lawsuit against several major U.S. PVC pipe manufacturers, alleging those manufacturers colluded to create an illegal price-fixing scheme that artificially raised the price of PVC pipes widely used in public water systems and municipal wastewater collection and treatment across the country. The law firms FeganScott and Douglas & London PC filed the lawsuit on behalf of Erie County Water Authority, claiming that seven companies – which control 90% of the PVC market – used an industry information exchange platform to communicate about and coordinate the price for PVC pipes. The 53-page complaint names Atkore, Diamond Plastics, JM Eagle, National Pipe and Plastics, Otter Tail, IPEX, and Westlake Corporation. It also names Opis, the information exchange platform the suppliers used in the alleged scheme. Opis is owned by Dow Jones. The complaint, filed in the U.S. District Court for the Northern District of Illinois, claims that over a two-to-three-year span, the companies’ scheme artificially raised the price of municipal PVC water pipes for public water systems nationwide by as much as 500%. According to Elizabeth Fegan, managing partner of FeganScott and one of the attorneys leading the suit, the defendants’ use of the Opis data allowed them to set a price floor for their products, strangling the chance for competition to correctly set the price. Fegan noted that this is not the first time Opis has been involved in antitrust litigation. According to the suit, Opis was the subject of a 2020 lawsuit brought by the California Attorney General and two energy companies for illegally driving up regular and premium gasoline prices. That case was settled in 2024 for $50 million. The lawsuit seeks to represent local public water systems and municipal wastewater collection and treatment authorities nationwide that purchased PVC pipes manufactured by the defendants. Reported Earnings • Nov 05
Third quarter 2024 earnings released: EPS: US$0.84 (vs US$2.21 in 3Q 2023) Third quarter 2024 results: EPS: US$0.84 (down from US$2.21 in 3Q 2023). Revenue: US$3.12b (flat on 3Q 2023). Net income: US$108.0m (down 62% from 3Q 2023). Profit margin: 3.5% (down from 9.1% in 3Q 2023). Revenue is forecast to grow 6.0% p.a. on average during the next 3 years, compared to a 6.3% decline forecast for the Chemicals industry in the United Kingdom. Over the last 3 years on average, earnings per share has fallen by 55% per year but the company’s share price has increased by 10% per year, which means it is well ahead of earnings. Tillkännagivande • Oct 22
Westlake Corporation to Report Q3, 2024 Results on Nov 05, 2024 Westlake Corporation announced that they will report Q3, 2024 results Pre-Market on Nov 05, 2024 Declared Dividend • Aug 14
Second quarter dividend increased to US$0.53 Dividend of US$0.53 is 5.0% higher than last year. Ex-date: 20th August 2024 Payment date: 5th September 2024 Dividend yield will be 1.4%, which is lower than the industry average of 3.0%. Sustainability & Growth Dividend is well covered by both earnings (40% earnings payout ratio) and cash flows (40% cash payout ratio). The dividend has increased by an average of 16% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 200% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Tillkännagivande • Aug 10
Westlake Corporation Declares Quarterly Dividend, Payable on September 5, 2024 Westlake Corporation declared a regular dividend distribution of $0.525 per share for the second quarter of 2024. This dividend will be payable on September 5, 2024, to stockholders of record on August 20, 2024. Reported Earnings • Aug 07
Second quarter 2024 earnings released: EPS: US$2.43 (vs US$2.32 in 2Q 2023) Second quarter 2024 results: EPS: US$2.43 (up from US$2.32 in 2Q 2023). Revenue: US$3.21b (down 1.4% from 2Q 2023). Net income: US$313.0m (up 5.7% from 2Q 2023). Profit margin: 9.8% (in line with 2Q 2023). Revenue is forecast to grow 5.3% p.a. on average during the next 3 years, compared to a 5.8% decline forecast for the Chemicals industry in the United Kingdom. Over the last 3 years on average, earnings per share has fallen by 34% per year but the company’s share price has increased by 20% per year, which means it is well ahead of earnings. Tillkännagivande • Jul 23
Westlake Corporation to Report Q2, 2024 Results on Aug 06, 2024 Westlake Corporation announced that they will report Q2, 2024 results Pre-Market on Aug 06, 2024 Tillkännagivande • Jul 16
Westlake Corporation Appoints Jean-Marc Gilson as Chief Executive Officer Westlake Corporation appointed Jean-Marc Gilson, who most recently served as Chief Executive Officer of Mitsubishi Chemical Group Corporation, has been appointed to serve as Chief Executive Officer. A seasoned leader in the chemical industry with a proven ability to deliver sustained financial performance, Jean-Marc Gilson, 60, most recently served as President and CEO of Mitsubishi Chemical Group Corporation, an international chemical company based in Japan with more than $30 billion in revenue. From 2014 to 2020, Jean-Marc Gilson served as Chief Executive Officer of Roquette, a family-owned global leader in plant-based ingredients and a leading provider of pharmaceutical excipients. Before that, Mr. Gilson served as Vice-Chairman and Chief Operating Officer of NuSil Technology, a U.S.-based global manufacturer of medical- and space-grade silicone technology. Earlier in his career, Mr. Gilson held various leadership roles at Dow Corning, including Executive Vice President, Specialty Chemicals Business, before becoming CEO of Avantor Performance Materials. Jean-Marc Gilson holds a Master of Science in Chemical Engineering from the University of Liège in Belgium and a Master of Business Administration from the International Institute for Management Development in Switzerland. Tillkännagivande • Jul 15
Westlake Corporation Appoints Jean-Marc Gilson as President Westlake Corporation appointed Jean-Marc Gilson, who most recently served as President and Chief Executive Officer of Mitsubishi Chemical Group Corporation, has been appointed to serve as President. A seasoned leader in the chemical industry with a proven ability to deliver sustained financial performance, Jean-Marc Gilson, 60, most recently served as President and CEO of Mitsubishi Chemical Group Corporation, an international chemical company based in Japan with more than $30 billion in revenue. From 2014 to 2020, Jean-Marc Gilson served as Chief Executive Officer of Roquette, a family-owned global leader in plant-based ingredients and a leading provider of pharmaceutical excipients. Before that, Mr. Gilson served as Vice-Chairman and Chief Operating Officer of NuSil Technology, a U.S.-based global manufacturer of medical- and space-grade silicone technology. Earlier in his career, Mr. Gilson held various leadership roles at Dow Corning, including Executive Vice President, Specialty Chemicals Business, before becoming CEO of Avantor Performance Materials. Jean-Marc Gilson holds a Master of Science in Chemical Engineering from the University of Liège in Belgium and a Master of Business Administration from the International Institute for Management Development in Switzerland. Buy Or Sell Opportunity • Jun 08
Now 22% undervalued Over the last 90 days, the stock has risen 7.1% to US$152. The fair value is estimated to be US$195, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 11% over the last 3 years. Earnings per share has declined by 12%. Revenue is forecast to grow by 12% in 2 years. Earnings are forecast to grow by 375% in the next 2 years. Board Change • Jun 03
Less than half of directors are independent Following the recent departure of a director, there are only 5 independent directors on the board. The company's board is composed of: 5 independent directors. 6 non-independent directors. Independent Director Kim Lubel was the last independent director to join the board, commencing their role in 2020. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Tillkännagivande • May 11
Westlake Corporation Declares Regular Dividend for the First Quarter of 2024, Payable on June 6, 2024 The Board of Directors of Westlake Corporation declared a regular dividend distribution of 50 cents per share for the first quarter of 2024. This dividend will be payable on June 6, 2024, to stockholders of record on May 21, 2024. Tillkännagivande • May 07
Westlake Corporation to Showcase Solutions for Enhancing Your Life Every Day® At NPE 2024 Westlake Corporation will showcase its solutions that enhance life every day at NPE 2024 in OCCC West Hall Booth 203 ABC, to be held from May 6-10 in Orlando, Florida. Under the theme of “Enhancing Your Life Every Day,” three of Westlake’s businesses will showcase their products: Westlake Global Compounds, Westlake Polyethylene and Westlake North American Vinyls. Westlake will highlight some of its diverse range of sustainable products at NPE including: High-Performance Molecular-Oriented PVC (PVCO) Pipe: In 2022, Westlake expanded production of PVCO, a molecular-oriented PVC pipe material with enhanced water flow and a lower carbon footprint compared to traditional Westlake PVC pipe. During the manufacturing process, the PVC molecules are stretched and reorganized to increase material strength, making the pipe more flexible and lighter weight. Less material per unit length provides secondary benefits for shipping the product. By reducing the weight of the haulage, vehicles can use less fuel, thereby reducing carbon emissions. PVCO is available in North America. Pivotal™ Product Line: Pivotal™ Polyethylene is specifically formulated to preserve film performance while incorporating Post-Consumer Recycled (PCR) content. Company product portfolio is designed to balance process stability and film performance while incorporating PCR into a variety of flexible film applications. Pivotal™ PVC Compounds is specifically formulated with Post-Industrial Recyclate (PIR) content. It is a rigid, non-phthalate compound formulated for a variety of custom injection molding applications. It is developed to consistently perform like virgin resin with minimal lot-to-lot variability; designed to achieve high flammability resistance and RTI properties; and, specially formulated to process well during injection molding, including multi-cavity tools. GreenVin™ Bio-attributed PVC: GreenVin™ bio-attributed PVC is produced with renewable energy (under European Guarantees of Origin) and renewable ethylene. The renewable ethylene is derived from bio-naphtha. GreenVin bio-attributed PVC is both ISCC PLUS and REDcert2 certified, using the mass balance approach. Bio-attributed GreenVin PVC is approximately 90% less carbon intensive compared to conventionally produced Westlake PVC. Westlake also produces lower carbon GreenVin PVC and GreenVin caustic soda produced with certified 100% renewable energy under European Guarantees of Origin. GreenVin PVC is already being used in various PVC application areas, such as the automotive, window manufacturing, and pharmaceutical packaging sectors. GreenVin caustic soda is approximately 30% less carbon intensive compared to conventionally produced Westlake caustic soda. Caustic soda is used to produce detergents, cardboard, pharmaceuticals, water treatment, and many other key products. Reported Earnings • May 01
First quarter 2024 earnings released: EPS: US$1.36 (vs US$3.07 in 1Q 2023) First quarter 2024 results: EPS: US$1.36 (down from US$3.07 in 1Q 2023). Revenue: US$2.98b (down 11% from 1Q 2023). Net income: US$174.0m (down 56% from 1Q 2023). Profit margin: 5.8% (down from 12% in 1Q 2023). Revenue is forecast to grow 4.5% p.a. on average during the next 3 years, compared to a 2.7% decline forecast for the Chemicals industry in the United Kingdom. Over the last 3 years on average, earnings per share has fallen by 12% per year but the company’s share price has increased by 15% per year, which means it is well ahead of earnings. Buy Or Sell Opportunity • Apr 30
Now 20% undervalued Over the last 90 days, the stock has risen 5.9% to US$149. The fair value is estimated to be US$186, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 18% over the last 3 years. Earnings per share has grown by 11%. For the next 3 years, revenue is forecast to grow by 3.1% per annum. Earnings are also forecast to grow by 29% per annum over the same time period. Tillkännagivande • Apr 19
Westlake Corporation to Report Q1, 2024 Results on May 01, 2024 Westlake Corporation announced that they will report Q1, 2024 results at 9:30 AM, US Eastern Standard Time on May 01, 2024 Buy Or Sell Opportunity • Mar 18
Now 21% undervalued Over the last 90 days, the stock has risen 2.2% to US$145. The fair value is estimated to be US$183, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 18% over the last 3 years. Earnings per share has grown by 11%. For the next 3 years, revenue is forecast to grow by 3.1% per annum. Earnings are also forecast to grow by 29% per annum over the same time period. Declared Dividend • Feb 25
Fourth quarter dividend of US$0.50 announced Shareholders will receive a dividend of US$0.50. Ex-date: 27th February 2024 Payment date: 14th March 2024 Dividend yield will be 1.4%, which is lower than the industry average of 3.0%. Sustainability & Growth Dividend is well covered by both earnings (4% earnings payout ratio) and cash flows (20% cash payout ratio). The dividend has increased by an average of 18% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 131% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Feb 21
Full year 2023 earnings released: EPS: US$3.75 (vs US$17.47 in FY 2022) Full year 2023 results: EPS: US$3.75 (down from US$17.47 in FY 2022). Revenue: US$12.5b (down 21% from FY 2022). Net income: US$479.0m (down 79% from FY 2022). Profit margin: 3.8% (down from 14% in FY 2022). Revenue is forecast to grow 2.9% p.a. on average during the next 3 years, compared to a 4.1% decline forecast for the Chemicals industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 11% per year whereas the company’s share price has increased by 15% per year. Tillkännagivande • Feb 21
Westlake Corporation Reports Impairment of Goodwill and Long-Lived Assets for the Fourth Quarter Ended December 31, 2023 Westlake Corporation reported Impairment of goodwill and long-lived assets of $475 million for the fourth quarter ended December 31, 2023. Tillkännagivande • Feb 17
Westlake Corporation Declares Regular Dividend for the Fourth Quarter of 2024, Payable on March 14, 2024 The Board of Directors of Westlake Corporation declared a regular dividend distribution of 50 cents per share for the fourth quarter of 2024. This dividend will be payable on March 14, 2024, to stockholders of record on February 28, 2024. New Risk • Feb 16
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 0.2% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 0.2% per year for the foreseeable future. Minor Risk Profit margins are more than 30% lower than last year (9.2% net profit margin). Tillkännagivande • Nov 11
Westlake Corporation Declares Dividend for the Third Quarter of 2023, Payable on December 6, 2023 The Board of Directors of Westlake Corporation declared a regular dividend distribution of 50 cents per share for the third quarter of 2023. This dividend will be payable on December 6, 2023, to stockholders of record on November 21, 2023. New Risk • Nov 07
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 1.1% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 1.1% per year for the foreseeable future. Minor Risk Profit margins are more than 30% lower than last year (9.2% net profit margin). Reported Earnings • Nov 02
Third quarter 2023 earnings released: EPS: US$2.23 (vs US$3.12 in 3Q 2022) Third quarter 2023 results: EPS: US$2.23 (down from US$3.12 in 3Q 2022). Revenue: US$3.12b (down 21% from 3Q 2022). Net income: US$285.0m (down 29% from 3Q 2022). Profit margin: 9.1% (down from 10% in 3Q 2022). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 3.1% p.a. on average during the next 3 years, compared to a 5.8% decline forecast for the Chemicals industry in the United Kingdom. New Risk • Oct 23
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 0.3% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 0.3% per year for the foreseeable future. Minor Risk Profit margins are more than 30% lower than last year (9.5% net profit margin). Tillkännagivande • Oct 20
Westlake Corporation to Report Q3, 2023 Results on Nov 02, 2023 Westlake Corporation announced that they will report Q3, 2023 results Pre-Market on Nov 02, 2023 Tillkännagivande • Sep 15
Westlake Introduces High-Performance PIVOTAL Polyethylene Resin with Post-Consumer Content Westlake Corporation announced the launch of PIVOTAL, a line of "one-pellet solutions" for the introduction of post-consumer resin (PCR) into flexible packaging. PIVOTAL offers customers a more sustainable material for use in the production of non-FDA applications. Westlake developed PIVOTAL to enable customers to maintain the performance levels of their applications while incorporating up to 45% PCR. Rigorous quality control during sourcing and manufacturing ensures that the product provides customers with properties comparable to that of virgin resin. This one-pellet solution is emerging as a more sustainable option for both monolayer and multilayer film applications. In October 2022, PIVOTAL received GreenCircle certification. GreenCircle Certified, LLC conducted an independent, third-party evaluation to certify the PCR feedstock as being derived from post-consumer sources as well as to verify the PCR loading in each PIVOTAL offering. This certification was conducted in accordance with ISO14021 and FTC Green Guides while meeting the requirements of LEED v4 & v4.1 MR Credit: Sourcing of Raw Materials. The introduction of the PIVOTAL product line continues Westlake's ongoing sustainability journey. PIVOTAL joins Westlake's portfolio of more environmentally-friendly products, including Westlake Vinnolit's GreenVin®? lower-carbon PVC and Westlake Pipe & Fittings' molecular-oriented PVC (PVCO) pipe. Tillkännagivande • Aug 15
Westlake Corporation Declares Quarterly Dividend for the Second Quarter of 2023, Payable on September 12, 2023 Westlake Corporation declared a regular dividend distribution of 50.00 cents per share for the second quarter of 2023, an increase of approximately 40% from the 35.70 cents per share of the first quarter of 2023. This dividend will be payable on September 12, 2023, to stockholders of record on August 25, 2023. Reported Earnings • Aug 04
Second quarter 2023 earnings released: EPS: US$2.33 (vs US$6.65 in 2Q 2022) Second quarter 2023 results: EPS: US$2.33 (down from US$6.65 in 2Q 2022). Revenue: US$3.25b (down 28% from 2Q 2022). Net income: US$297.0m (down 65% from 2Q 2022). Profit margin: 9.1% (down from 19% in 2Q 2022). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 1.6% p.a. on average during the next 3 years, compared to a 5.8% decline forecast for the Chemicals industry in the United Kingdom. Buying Opportunity • Aug 02
Now 21% undervalued Over the last 90 days, the stock is up 19%. The fair value is estimated to be US$171, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 30% over the last 3 years. Earnings per share has grown by 62%. Revenue is forecast to decline by 6.3% in 2 years. Earnings is forecast to decline by 18% in the next 2 years. Tillkännagivande • Jul 23
Westlake Corporation to Report Q2, 2023 Results on Aug 03, 2023 Westlake Corporation announced that they will report Q2, 2023 results Pre-Market on Aug 03, 2023 Tillkännagivande • Jul 12
Westlake Royal Building Products USA, Inc. Announces New Protective Film for Kleer®? Pvc Trim and Sheet Products Westlake Royal Building Products USA Inc. announced that it has added clear, protective film to its Kleer®? Trim and Sheet products in both smooth and wood grain surfaces. This new protective film for Kleer products is designed to keep the products untarnished throughout all stages of their journey, including storage, handling, shipping, repackaging and installation. The removable film can simply be removed away after the product has been installed. The advantages of this protective film include: Keeping trim clean during shipping, storing, handling, handling, shipping, repACKaging and installation. The removable films can simply be removed away After the product has been installed. The advantages of this protective film include: Keeping trim clean during shipping, storing, handling, Protects from dust and dirt, Easy to peel off without leaving any residue behind and Helps stand out at the jobsite with Kleer branding. Tillkännagivande • May 13
Westlake Corporation Declares Dividend for the First Quarter of 2023, Payable on June 8, 2023 The Board of Directors of Westlake Corporation declared regular dividend distribution of $0.357 per share for the first quarter of 2023. This dividend will be payable on June 8, 2023, to stockholders of record on May 23, 2023. Reported Earnings • May 05
First quarter 2023 earnings released: EPS: US$3.09 (vs US$5.87 in 1Q 2022) First quarter 2023 results: EPS: US$3.09 (down from US$5.87 in 1Q 2022). Revenue: US$3.36b (down 17% from 1Q 2022). Net income: US$394.0m (down 48% from 1Q 2022). Profit margin: 12% (down from 19% in 1Q 2022). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 1.7% p.a. on average during the next 3 years, compared to a 2.3% growth forecast for the Chemicals industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 62% per year but the company’s share price has only increased by 40% per year, which means it is significantly lagging earnings growth. Board Change • Apr 03
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 5 experienced directors. 5 highly experienced directors. Independent Director Kim Lubel was the last director to join the board, commencing their role in 2020. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Feb 22
Full year 2022 earnings released: EPS: US$17.56 (vs US$15.66 in FY 2021) Full year 2022 results: EPS: US$17.56 (up from US$15.66 in FY 2021). Revenue: US$15.8b (up 34% from FY 2021). Net income: US$2.25b (up 12% from FY 2021). Profit margin: 14% (down from 17% in FY 2021). The decrease in margin was driven by higher expenses. Revenue is expected to decline by 3.8% p.a. on average during the next 3 years, while revenues in the Chemicals industry in the United Kingdom are expected to grow by 1.7%. Tillkännagivande • Feb 18
Westlake Corporation Declares Dividend for the Fourth Quarter of 2022, Payable on March 16, 2023 The Board of Directors of Westlake Corporation declared a regular dividend distribution of $0.3570 per share for the fourth quarter of 2022. This dividend will be payable on March 16, 2023, to stockholders of record on March 1, 2023. Tillkännagivande • Feb 08
Westlake Corporation to Report Q4, 2022 Results on Feb 21, 2023 Westlake Corporation announced that they will report Q4, 2022 results Pre-Market on Feb 21, 2023 Board Change • Jan 11
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 5 experienced directors. 5 highly experienced directors. Independent Director Kim Lubel was the last director to join the board, commencing their role in 2020. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Board Change • Nov 16
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 5 experienced directors. 5 highly experienced directors. Independent Director Kim Lubel was the last director to join the board, commencing their role in 2020. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Nov 04
Third quarter 2022 earnings released: EPS: US$3.13 (vs US$4.72 in 3Q 2021) Third quarter 2022 results: EPS: US$3.13 (down from US$4.72 in 3Q 2021). Revenue: US$3.96b (up 30% from 3Q 2021). Net income: US$401.0m (down 34% from 3Q 2021). Profit margin: 10% (down from 20% in 3Q 2021). The decrease in margin was driven by higher expenses. Revenue is expected to fall by 6.0% p.a. on average during the next 3 years compared to a 8.9% decline forecast for the Chemicals industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 77% per year but the company’s share price has only increased by 15% per year, which means it is significantly lagging earnings growth. Recent Insider Transactions • Aug 30
VP & Chief Accounting Officer recently sold US$58k worth of stock On the 26th of August, Johnathan Zoeller sold around 542 shares on-market at roughly US$107 per share. This transaction amounted to 50% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of US$1.3m more than they bought in the last 12 months. Reported Earnings • Aug 03
Second quarter 2022 earnings released: EPS: US$6.69 (vs US$4.06 in 2Q 2021) Second quarter 2022 results: EPS: US$6.69 (up from US$4.06 in 2Q 2021). Revenue: US$4.48b (up 57% from 2Q 2021). Net income: US$858.0m (up 65% from 2Q 2021). Profit margin: 19% (in line with 2Q 2021). Over the next year, revenue is forecast to grow 6.0% compared to a 20% decline forecast for the industry in the United Kingdom. Valuation Update With 7 Day Price Move • Jun 15
Investor sentiment deteriorated over the past week After last week's 20% share price decline to US$108, the stock trades at a forward P/E ratio of 5x. Average forward P/E is 16x in the Chemicals industry in the United Kingdom. Total returns to shareholders of 83% over the past three years. Reported Earnings • May 03
First quarter 2022 earnings released: EPS: US$5.90 (vs US$1.88 in 1Q 2021) First quarter 2022 results: EPS: US$5.90 (up from US$1.88 in 1Q 2021). Revenue: US$4.06b (up 72% from 1Q 2021). Net income: US$756.0m (up 214% from 1Q 2021). Profit margin: 19% (up from 10% in 1Q 2021). The increase in margin was driven by higher revenue. Over the next year, revenue is forecast to grow 7.5% compared to a 16% decline forecast for the industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 59% per year but the company’s share price has only increased by 24% per year, which means it is significantly lagging earnings growth. Board Change • Apr 27
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 5 experienced directors. 5 highly experienced directors. Independent Director Kim Lubel was the last director to join the board, commencing their role in 2020. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Recent Insider Transactions • Mar 11
Executive Vice President of Housing recently sold US$315k worth of stock On the 9th of March, Robert Buesinger sold around 3k shares on-market at roughly US$116 per share. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of US$1.5m more than they bought in the last 12 months. Reported Earnings • Feb 24
Full year 2021 earnings: EPS in line with analyst expectations despite revenue beat Full year 2021 results: EPS: US$15.74 (up from US$2.57 in FY 2020). Revenue: US$11.8b (up 57% from FY 2020). Net income: US$2.02b (up US$1.69b from FY 2020). Profit margin: 17% (up from 4.4% in FY 2020). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 4.0%. Over the next year, revenue is forecast to grow 15% compared to a 3.9% decline forecast for the industry in the United Kingdom. Board Change • Feb 18
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 5 experienced directors. 5 highly experienced directors. Independent Director Kim Lubel was the last director to join the board, commencing their role in 2020. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. 
