Westlake reports Q2 EPS $2.40, consensus $1.99

Reports Q2 revenue $3.21B, consensus $3.24B. “We are pleased with our financial results for Q2 of 2024, highlighted by record HIP EBITDA and margins as well as improved pricing and profitability in the PEM segment. Combined, these factors enabled us to deliver year-over-year quarterly earnings growth following the slowdown in global macroeconomic activity that began in the second half of 2022. Our HIP businesses continue to perform exceptionally well due in part to our product portfolio as well as our focus and position in segments of the market that have outperformed the broader industry. While global industrial and manufacturing activity remains sluggish, conditions in our PEM segment have stabilized and we are encouraged by recent trends reflecting improved demand and higher average sales price for most major products, which is driving a recovery in our margins,” said Albert Chao, Executive Chairman. “After my first few weeks I look forward to helping drive Westlake forward and execute on our strategy while embracing the culture and continuing the focus on creating long-term value for shareholders,” said Jean-Marc Gilson, CEO.