Westlake Chemical Corporation Reports First Quarter 2021 Results

• 154% increase in first quarter 2021 operating income of $346 million vs first quarter 2020 Westlake Chemical Corporation (NYSE: WLK) (the "Company" or "Westlake") today reported net income attributable to Westlake for the three months ended March 31, 2021 of $242 million, or $1.87 per diluted share, on net sales of $2,357 million. Net income in the first quarter of 2021 increased by $97 million from first quarter 2020 net income of $145 million, or $1.13 per share, on net sales of $1,932 million. Income from operations of $346 million for the first quarter of 2021 increased by $210 million from income from operations of $136 million for the first quarter of 2020. The increases in net income and income from operations were primarily driven by higher sales prices and integrated margins for most of our major products including polyethylene and PVC, as well as higher earnings resulting from strong demand in our downstream building products business. These increases in demand were driven

Westlake Chemical Partners LP Announces First Quarter 2021 Distribution

$0.4714 cents per unit distribution declared payable on May 27, 2021 The Board of Directors of Westlake Chemical Partners GP LLC, the general partner of Westlake Chemical Partners LP (the "Partnership") (NYSE:WLKP), has declared a distribution by the Partnership of $0.4714 per unit. This is the 27th consecutive quarterly distribution announced by the Partnership since its initial public offering. The distribution will be payable on May 27, 2021, to unit holders of record on May 13, 2021. This release is intended to be a qualified notice under Treasury Regulation Section 1.1446-4(b). Brokers and nominees should treat one hundred percent (100.0%) of the Partnership’s distributions to non-U.S. investors as being attributable to income that is effectively connected with a United States trade or business. Accordingly, the Partnership’s distributions to non-U.S. investors are subject to federal income tax withholding at the highest applicable effective tax rate. About Westlake Chemical

Marking the company's ninth year of dedicated recycling efforts, DaVinci Roofscapes has now reprocessed more than 8,000,000 pounds of polymer scrap materials. The announcement comes in conjunction with Earth Day 2021, a focus on restoring our earth.

“In 2020 alone we reprocessed more than 1.1 million pounds of scrap materials," says Bryan Ward, vice president of operations at DaVinci Roofscapes in Lenexa, Kan. “This recycled polymer product went into the making of slate and shake starter shingles and other accessory parts for our customers' homes."

The DaVinci Roofscapes facility has achieved net zero landfill scrap for four consecutive years. Every pound of scrap generated by the company's expansive manufacturing operations goes into repurposed product.

“This is our way of life," says Ward. “We continuously invest in green initiatives from both a personnel and capital expenditures standpoint. We're particularly pleased that our process engineers have developed innovative tooling to mold accessory parts that use only our reprocessed scrap."

Where Does Polymer Scrap Come From?

A manufacturer of both polymer roofing and siding tiles, DaVinci Roofscapes uses virgin resins to make their products. An industry leader in color offerings, the company has 27 unique color blends and more than 50 stock colors.

“After we finish 'running' a color of product, there's a transitioning period between colors," says Ward. “Those transition tiles are 'off spec' and cannot be used."

The transition tiles are carefully pulled off the product line and segregated into specifically colored scrap bins by employees. The tiles are then ground up and repurposed into starter tiles, which are generally not seen on a roof.

“This is a true win-win for our company and the environment," says Ward. “With 100 percent of our materials being used or reused, we have net zero landfill scrap."

Zero Waste at DaVinci

DaVinci slate and shake tiles are made of virgin resins, UV and thermal stabilizers. A highly-specialized fire retardant is added to the mix, making them fire-resistant. DaVinci products are warranted to last for decades on homes and commercial projects. However, after their lifespan, they are also 100 percent recyclable.

“We always stop each year to mark Earth Day on April 22nd," says Ward. “It's a time to reflect on all the positive accomplishments our team achieves every day at our facility. Imagine what eight million pounds of scrap polymer would look like in a landfill. It's mind boggling to imagine we have repurposed such a vast amount of waste product.

“It's a significant part of our ongoing legacy at DaVinci that we have developed the processes to completely eliminate waste from our operations. This is definitely a source of both pride and awe at our company."

  • Earth Day 2021: 8+ Million Pounds of Waste Recycled at DaVinci Roofscapes

Westlake Chemical Announces First Quarter 2021 Earnings Conference Call

Westlake Chemical Corporation (NYSE: WLK) will release its first quarter earnings for 2021 prior to the market opening on Tuesday, May 4, 2021. The company will host a conference call at 11:00 a.m. Eastern Time (10:00 a.m. Central Time) on the same day to discuss the earnings release. To access the conference call, dial (855) 760-8160, or (704) 288-0624 for international callers, approximately 10 minutes prior to the scheduled start time and reference passcode 4677649. The conference call will also be available via webcast at https://edge.media-server.com/mmc/p/fmi27wgt and the earnings release can be obtained via the company’s Web page at https://investors.westlake.com/news/default.aspx . A replay of the conference call will be available beginning two hours after its conclusion for seven days. To hear a replay, dial (855) 859-2056 or (404) 537-3406 for international callers. The replay passcode is 4677649. About Westlake: Westlake is a global manufacturer and supplier of materials

Westlake Chemical Partners Announce First Quarter 2021 Earnings Conference Call

Westlake Chemical Partners (NYSE: WLKP) will release its first quarter earnings for 2021 prior to the market opening on Tuesday, May 4, 2021. The company will host a conference call at 1:00 p.m. Eastern Time (12:00 p.m. Central Time) on the same day to discuss the earnings release. To access the conference call, dial (855) 765-5686, or (234) 386-2848 for international callers, approximately 10 minutes prior to the scheduled start time and reference passcode 3327838. The conference call will also be available via webcast at https://edge.media-server.com/mmc/p/usgwdp4o and the earnings release can be obtained via the company's Web page at https://investors.wlkpartners.com/corporate-profile/default.aspx . A replay of the conference call will be available beginning two hours after its conclusion for seven days. To hear a replay, dial (855) 859-2056 or (404) 537-3406 for international callers. The replay passcode is 3327838. About Westlake Chemical Partners: Westlake Chemical Partners is a

FOR THE 25TH CONSECUTIVE YEAR

Westlake Corporation announced it recently notified 98 college-bound students of employees in the United States and Canada that they are recipients of a Westlake Scholarship beginning the fall term of 2021.
 

This annual award of scholarships continues Westlake's on-going support of the higher education endeavors for high school students of company employees. Scholarships are generally renewable for up to four years of undergraduate study provided the student maintains specific high academic standards.​

Joel Gray, Westlake's Vice President of Human Resources stated in describing this year's applicants, “For the 25th consecutive year we are pleased to recognize and reward high-achieving college-bound students of our employees.  We believe this important tradition has a positive impact in our communities and our workplace.  The competition for these scholarships is consistently strong and the applicants are some of the most outstanding students in each of the communities in which we operate.  The average recipient for 2021 has a GPA of 3.86 and ranks in the top 15% of their senior class. Moreover, many of these scholars have made significant contributions through numerous volunteer and civic activities.  We congratulate the students and their parents for the significant accomplishments in the classroom and the communities in which they live."

 

Student Employee Location
Kathryn Hall Micah Hall Aberdeen
Samantha Stelly James Wright Aberdeen
Damyan Minev Angel Minev Beauharnois
Savannah Martin John Mullins Bristol
Austin Miller Marshall Miller Bristol
Kaylie Mosher Christopher Mosher Bristol
Shuvanga Rai Dhruba Rai Calgary
Mitchell Von Der Osten Sacken Rebecca Tara Calgary
Anna Black Brian Black Calvert City
Elizabeth Carson Vadessa Harper-Carson Calvert City
James Crider Ken Crider Calvert City
Austin Dennison Michael Dennison Calvert City
Kendyl Drennan Russ Goheen Calvert City
Kali McClain Mitchell McClain Calvert City
Mary McCollum Michael McCollum Calvert City
Sydnie Midyett Ryan Midyett Calvert City
Avery Minter Jeff Minter Calvert City
Daly Moore Richard Moore Calvert City
Christian O'Daniel Melanie O'Daniel Calvert City
Faith Pratt Charles Pratt Calvert City
Jocelyn Ramey Duane Kindred Calvert City
Benjamin Schofield Bartlett Schofield Calvert City
Shelby Spencer Michael Spencer Calvert City
McCall Thompson Brady Thompson Calvert City
Hannah Young Doug Young Calvert City
Natalie Gentle Gary Gentle Columbus
Abigail Swint Kristine Swint Columbus
Addison Blinn Aaron Blinn Corporate
John Brennan John Brennan Corporate
Jacob Canaday Lance Canaday Corporate
Alejandro Iglesias Joel Iglesias Corporate
Samantha Johnson Jeremy Johnson Corporate
Grayson Scott Brooke Jones Corporate
Taylor Scott Vanessa Scott Corporate
Marin Stephan Jesse Stephan Corporate
Andrew Wang Frank Wang Corporate
Nathan Neufeld Edwin Neufeld Distribution - RBS Winnipeg Branch
Darrion Gibson Nigel Gibson Division HQ - Royal Gate
Carsyn Earls Terrell Earls Gallman
Holden Harrell Jeff Harrell Geismar
Jacob Michelli Michael Michelli Geismar
James Vences Melquiades Vences Janesville
Hannah Buxton Shanna Buxton Lake Charles Petrochemical
Elizabeth Forman Robin Forman Lake Charles Petrochemical
Kristian Herring Kenny Herring Lake Charles Petrochemical
Kayleigh Hudler Eddie White Lake Charles Petrochemical
Natalie Ross Shannon Ross Lake Charles Petrochemical
Alyssa Vining Karrie Vining Lake Charles Petrochemical
Dusty Lowery Richard Lowery Lake Charles Polyethylene
Camrynn Briscoe Jerry Briscoe Lake Charles South
Phillip Cochran Jason Cochran Lake Charles South
Emily Duplechan Glenn Duplechan Lake Charles South
Hanna Emigh Aaron Emigh Lake Charles South
Mayah Emigh Aaron Emigh Lake Charles South
Emie Johnson Donald Johnson Lake Charles South
Jessica Mestayer Shannon Mestayer Lake Charles South
Josh Orsot Rico Orsot Lake Charles South
Kamden Perkins Keith Perkins Lake Charles South
Haley Savoie Anthony Savoie Lake Charles South
Noah Simon Ryan Simon Lake Charles South
Jasmine Stevens Byron Stevens Lake Charles South
Charles Strother Charles Strother Lake Charles South
Natalie Stump Don Stump Lake Charles South
Gracie Whatley Terry Whatley Lake Charles South
Peyton Williams Krystal Williams Lake Charles South
Scott Williams Walter Williams Lake Charles South
Andrew Yen Melody Yen Lake Charles South
Lauren Hassett Neil Hassett Lodi
Damion Stout Mauro Guzman Lodi
Jonathan Bielling Duane Bielling Longview TX
Ethan Bryan Matthew Bryan Longview TX
Brandt Herber Brandon Herber Longview TX
Samuel Powers Betty Powers Longview TX
Caroline Taylor Kevin Taylor Longview TX
Keeli Hash Aaron Hash Longview WA
Karson Mertes Shawn Mertes Longview WA
Jacob Oathes Ronald Oathes Longview WA
Elle Tangvald Mark Tangvald Longview WA
Alejandra Duran Jaime Duran Madison
Logan Chandler Brian Chandler Marion
Wrangler Hogston Garland Hogston Marion
Edwin Plemmons Dewey Plemmons Marion
Bridget Moege Terry Moege McPherson
Laura Siler Andrew Siler Natrium
Emily Smith David Smith Natrium
Jonathan Snider Lee Bonar Natrium
Brittney Strum Herbert Whaley Natrium
Cameron Dyck Brent Dyck Pipe & Fittings - Winnipeg
Alex Mooney John Mooney Pittsburgh
A'naya Bloomer Wayne Bloomer Plaquemine
Samantha Bordelon Adam Bordelon Plaquemine
Elise Devall Mark Devall Plaquemine
Evan Garner Hillary Garner Plaquemine
Claire Sanchez Kirk Sanchez Plaquemine
Victoria Panici Marco Panici Woodbridge Fittings
Fatima Ali Waqar Ali Woodbridge Pipe
Harshi Buvanesan Sarma Buvanesan Woodbridge Pipe
Maham Ali Manzoor Ali Woodbridge Siding

 

  • Westlake Corporations Awards Scholarships to Students of Employees

Business Focus magazine recently spoke with Erik Keracik, Vice President of Polyethylene, about Westlake's growth, sustainability efforts, and innovative customer solutions. Click Here to read about how Westlake has continued to grow over the past 35 years in such a dynamic industry.

  • A Legacy in Plastic Yields Specialty PE Solutions - Business Focus Magazine